Dispensations from audit or examination requirements10
1
The Commissioners may, in the circumstances specified in paragraph (2) below, dispense with the requirements of section 43(2) or (3) of the 1993 Act in the case of a particular charity or of a particular financial year of a charity.
2
The circumstances referred to in paragraph (1) above are where the Commissioners—
a
are satisfied that the accounts of the charity concerned are required to be audited in accordance with any statutory provision contained in or having effect under an Act of Parliament which, in the opinion of the Commissioners, imposes requirements which are sufficiently similar to the requirements of section 43(2) for those requirements to be dispensed with;
b
are satisfied that the accounts of the charity concerned have been audited by the Comptroller and Auditor General or by the Auditor General for Wales;
c
are satisfied that the accounts of the charity concerned for the financial year in question have been, or will be, audited or, as the case may be, examined in accordance with requirements or arrangements which, in the opinion of the Commissioners, are sufficiently similar to the relevant requirements of section 43 of the 1993 Act applicable to that financial year of that charity for those requirements to be dispensed with;
d
are satisfied that there has in the financial year in question been no transaction on the part of the charity concerned which would be required to be shown and explained in the accounting records kept in pursuance of section 41 of the 1993 Act;
e
consider that, although the financial year in question of the charity concerned is one to which subsection (2) of section 43 of the 1993 Act applies, there are exceptional circumstances which justify the examination of the accounts by an independent examiner instead of their audit in accordance with that subsection.
3
A dispensation under any of paragraphs 2(a) to (c) of this regulation is conditional on the charity trustees supplying to the Commissioners any report made to them with respect to the accounts of that charity for the financial year in question which the Commissioners have requested, and paragraph (2)(e) of this regulation is conditional on compliance by the charity trustees with all the requirements which would have applied if they had been able to make, and had in fact made, an election under section 43(3)(a) of the 1993 Act with respect to the accounts of the charity for the financial year in question.