John Curran (Dublin Mid West, Fianna Fail)

I move amendment No. 70:

In page 36, line 31, to delete "exceeds €100,000" and substitute "exceeds such amount as may be prescribed".

In the Bill as currently drafted, audit requirements depend on whether a charity's annual income or expenditure exceeds €100,000. The proposed amendment will provide for an audit threshold range in order to allow the new authority to match the audit threshold with the rates applied by the Revenue Commissioners. Concerns have been raised on Committee Stage that future changes in auditing levels would have to be done by way of amendment to the legislation. As this would clearly be cumbersome, it is proposed to make the audit threshold for charitable organisations variable by regulation up to a limit of €500,000.

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