C1Part 2Regulation of Social Housing
Chapter 4Registered providers
Accounts
I1136Charity: audit
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 F1section 144(1)(a) of the Charities Act 2011.
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 F2section 144(1) of the Charities Act 2011, 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 F3section 144(1)(b).
6
“Gross income” has the same meaning as in F4section 144 of the Charities Act 2011.
7
“Qualified person” means a person professionally qualified as an accountant.
Pt. 2 modified (1.4.2012) by Localism Act 2011 (c. 20), s. 240(2), Sch. 16 para. 69(2); S.I. 2012/628, art. 6(i) (with arts. 911141517)