Charity Audit Spotlight is published by Charity Financials and examines the current state of the charity audit market for the top 5,000 UK charities. Use this valuable report to:
- Find out the cost of audits for the UK’s charity sector
- Discover that the top 5,000 charities paid out £61.8m in audit fees last year
- Identify which charities are paying out the most for their audits e.g. the Wellcome Trust and Nuffield Health are both spending £300k in audit fees
- See how the top 50 auditors rank in terms of fees generated e.g. Crowe Clark Whitehill LLP tops the table with £5.4m in fees from 250 charity clients
Interestingly, the report found that, of the 934 auditing firms, 55% have only one charity client. In fact, just 2% of auditing firms represent half of the top 5,000 UK charities. Baker Tilly holds the top spot for number of charity clients with 294 in total, a 5.9% market share.
Using historical data for the past 10 years, the report also shows that 18% of the top 5,000 UK charities have remained with the same auditor for at least a decade. However, a general trend is that charities appear to change auditor after four years.
“We hope that charity financial professionals will find this data useful when selecting a new auditor” said, Mark Pincher, Data & Development Manager, Charity Audit Spotlight.
ACEVO Members can download this report for free by completing this form.
