Auditing, Accounting and Supervision in the European Charitable Sector

Abstract

In this paper we first describe recent developments which have seen the emergence of a stronger regulatory structure for United Kingdom charities. Secondly, we outline the radical proposal to change the financial accounting practices of charities. These proposals are designed to provide the financial criteria for monitoring and ensuring greater accountability of charities. Finally we question what effect will these changes have had on the rest of the European charitable sector? How different is the ‘British Model’ from other European countries? Will other European States follow the ‘British Model’? Or has the ‘British Model’ lessons it could learn from its partner states? To effect an answer we illustrate from our recent survey the current audit, accounting and supervision practices in the other European Union States with the exception of Greece.