Most auditors and independent examiners in England and Wales failed to identify failings in charity accounts in 2017/18.
The claim comes from the Charity Commission, which scrutinised 296 charity accounts with various annual incomes.
The Commission found that accounts reviewed by auditors met its benchmark more regularly than independent examiners.
How its benchmark is applied depends on a charity’s size and legal form, with closer scrutiny applied to accruals accounts.
Up to 15 criteria apply, nine of which are compulsory for all charity accounts under review. The other six only apply to the scrutiny of charities with accruals accounts. More…