what is the threshold for charitable donation audit
April 2015 Higher audit threshold for charities In March 2015, the government announced changes to charity law that allow more charities to become audit exempt. The changes apply to financial years ending on or after 31 March 2015. The threshold for the audit requirement is now Â£1,000,000 of income.If your charity has income between Â£500,000 and Â£1,000,000 and gross assets below Â£3,260,000 you may no longer require an audit. Previously this only applied to charities with less than Â£500,000 income.or charity groups, the audit threshold has also increased to Â£1,000,000. For charities that are now exempt from audit, they will still need an independent examination by a qualified accountant. All charities with more than Â£25,000 income must have an independent examination.