The Charity Commission in its latest monitoring reviews of charity trustees' annual reports and accounts, revealed an improvement in the quality of public reporting. 51% of the charities reviewed demonstrated a clear understanding of the public benefit reporting requirement €" a 5% improvement since last year, although evidently there is still a huge awareness gap in the sector, since 49% did not demonstrate this!
A charity's annual report can play a key role in providing transparency, enabling the public to understand exactly what a charity does and how their donations are being used. The Commission urges charities to recognise that completing the annual return provides a huge opportunity to keep their supporters in the loop of how they are using supporter funds for the good of their beneficiaries. The public benefit statement is highlighted as a vital tool in explaining to the general public exactly what a charity does to achieve its charitable aims.
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