Housing and Regeneration Act 2008

136 Charity: audit E+W

(1) This section applies in relation to the accounts of a charity under section 135(3).

(2) If Condition 1 or 2 is met, the charity shall cause a qualified person to audit the accounts and report on them in accordance with section 137.

(3) If neither Condition is met, the charity shall cause a qualified person (“the reporting accountant”) to report on the accounts in accordance with section 138.

(4) Condition 1 is met if the accounts relate to a period during which the charity's gross income arising in connection with its housing activities was greater than the sum specified in section 43(1)(a) of the Charities Act 1993.

(5) Condition 2 is met if—

(a) the accounts relate to a period during which the charity's gross income arising in connection with its housing activities was greater than the accounts threshold as defined by section 43(1) of the Charities Act 1993, and

(b) at the end of the period the aggregate value of its assets (before deduction of liabilities) in respect of its housing activities was greater than the sum specified in section 43(1)(b).

(6) “Gross income” has the same meaning as in section 43 of the Charities Act 1993 (c. 10).

(7) “Qualified person” means a person professionally qualified as an accountant.

Commencement Information

I1 S. 136 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)