The Charity Commission for Northern Ireland does not require charities to submit annual returns or accounts. This will change in time when registration has commenced.
Before accounting regulations are made however, the Department for Social Development will carry out a public consultation. This consultation is expected to happen in spring 2012 and the Commission website will provide updates on relevant developments.
It is worth noting, however, that the Charities Act (NI) 2008 provides charity accounting thresholds based on income bands. These income bands are as follows:
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Annual Turnover
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Requirements
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<£100k
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Gross Turnover Income and Expenditure Accounts signed by an Independent Person
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£100k-500k
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Gross Turnover Accrued Accounts signed by an Independent Examiner
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>£500k
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Gross Turnover Fully Audited and Signed Accounts
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In the interim there is best practice guidance on charity accounting issued by various organisations including the Charity Commission for England and Wales, the Northern Ireland Council for Voluntary and Community Action and ACCA – the global body for professional accountants.
ACCA, in conjunction with the Charity Commission for England and Wales has produced a useful podcast on charity accounting. Access the podcast.
It is worth remembering, in relation to guidance issued by the Charity Commission for England and Wales, that the requirement to submit annual returns and accounts is live within England and Wales.
