A leading South Wales-based accountancy and advisory firm has been recognised as one of the UK’s top performing charity auditors in a sector-specific survey.
MHA Broomfield Alexander moved up two places in Charity Finance’s annual survey of more than 1,000 charities, now ranking in the Top 20 charity audit firms across the UK. The firm was also highlighted for special mention in two categories, as it rated third in the UK for ‘charity expertise’ and joint forth for overall service by firms that received 30 or more responses.
Headquartered in Cardiff, with offices in Swansea, Newport and Monmouth, MHA Broomfield Alexander has been providing accountancy and professional advisory services to individuals and businesses for more than 100 years.
UK-wide, the charities that responded to this year’s Charity Finance survey accounted for more than £30bn worth of income in the past year, with audit fees totaling almost £30m. The sector has come under increasing scrutiny of its financial reporting in recent years, leading governance bodies like the Charities Commission to issue revised guidance on the type of issues that need to be reported.
“Charities in the UK have responsibilities to provide a wide range of financial information within their annual audited accounts, and ensure they keep up to date with the latest changes in regulations,” said Sarah Case, director and charity specialist at MHA Broomfield Alexander. “As advisors, it is our job to support them in this, which means maintaining the highest level of quality in the audits we carry out, while keeping our professional fees as competitive as possible.
“It is fantastic to see the positive feedback provided by our charity clients in the 2018 audit survey, which is a positive reflection of the work carried out by our team, as well as the quality of the relationships we have built with our clients over a number of years. The survey also highlights that expertise in the sector continues to be the most important factor for around two thirds of charities when selecting an audit partner, which is why it is so pleasing to receive such a high ranking in this area.
“As our charities continue to face increased regulatory scrutiny, as well as adapting to changes like digital VAT and gender pay gap reporting, we will continue to provide them with the best possible level of support, to allow them to focus on delivering the important work they do in our communities and further afield.”