Experts Help Charities Cut Through Red Tape

CHARITIES in the North East can now access specific expertise that can help them comply with the complex regulations they face.

Two industry experts with over twenty years experience of working with the third sector are helping charities through the complicated red tape that governs their financial affairs.

Chris Beaumont and Mary McArthur, chartered accountants at Clive Owen & Co LLP, based in Darlington, have recently been awarded rare industry accreditations in recognition of their experience and expertise.

The pair have gained the Diploma in Charity Accounting from the Institute of Chartered Accountants in England and Wales.

Achieving the awards will help Clive Owen & Co LLP build on its reputation as one of the leading chartered accountancy firms in the region. It already has around 50 charity clients and has helped them establish trading subsidiaries, as well as advising on year end accounting/audit issues and VAT issues.

The award will help charities recognise who has the necessary and specialist knowledge to help them.

Chris Beaumont, partner at Clive Owen & Co LLP has worked with charities for nearly 16 years and appreciates the particular challenges they face. He said: "Preparing the accounting for a charity is very different from doing it for a normal company.

"Charities often have complicated financial affairs and are governed by different and/or additional legislation. They can have a variety of income streams and have to comply with a whole host of regulations when disclosing details in their annual accounts."

Jane Ritchie, chairman of the Vocational Learning Trust (VOLT) which won Local Charity of the Year at the Tees Valley Charity Awards last October, said: "We have always found the team at Clive Owen to be extremely helpful, particularly in explaining the complicated financial and legislative issues that can affect charities.

"It is very reassuring to know that we have accountants with these specialised skills working for us."

Assessment for the diploma involved the submission of a comprehensive application detailing the pair's breadth of knowledge and experience as well as providing specific examples and references from clients.

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