Ms Helen Martin:

There is a provision in the Act whereby we connect in with the companies office and receive those accounts that go to it and they are presented on our website. However, what the Act intended was that charities would produce accounts in a uniform format so that they could be easily compared. At the moment, it is very difficult for anybody doing research in this area or a member of public who wants to compare one charity with another because charities will produce things in very different ways.

Another issue that we have – the Deputy may have heard this as well from other people who spoke with him – is around abridged accounts. We have charities that are companies that have prepared the full accounts in order and then have submitted, or somebody has submitted on their behalf, abridged accounts to the companies office. That is then what appears on the register. Our view is that it may be legally okay and permissible for a charity that is a company to do that, but abridged accounts provide virtually no detail and certainly do not provide the level of transparency. The provision is already there, but the Minister has not been able to make the regulations under it because they would only apply to a part of the overall register of charities in Ireland today. It is the regulations that would set out the detail of what people have to do when they are preparing accounts.

Also, we have sought to increase the threshold at which people have to produce accounts and at which people will have to get their accounts audited. It was €100,000 and we are looking to increase it again up to €250,000. That would be the point at which they would have to produce what would be the most detailed set of accounts. We call them statement of recommended practice, SORP, accounts. It specifically relates to charity accounts and what someone reading charity accounts should see. There are very particular things that, as one would imagine, are specific charities and that is what those rules entail.

This was something that we consulted on back in 2016-2017. We know that at that time, increasing the thresholds was supported, so that is another amendment that is in there. It comes back to being proportionate, balanced and fair. If and when these rules come in and the amendments are made, if they come in as planned, a small charity may not actually have to submit its accounts to us as part of its annual report each year and it will not have to get its accounts audited. It will still be required and bound by the separate obligation to keep proper books of account. However, it will not be required to file anything with us. That is important as well. We are looking to increase that threshold too so that more charities would fall into that. I know that Mr. Mulholland has some stats on those thresholds, the practical impact they would have and the numbers they would release from having those more onerous obligations on them, if the Deputy is interested.