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Subscriber: Buzzacott
Buzzacott has long been established as a leading provider of audit, accounting and related services to the charity sector. Since the 1960's we have taken a leading role in the development and promotion of best practice in the sector - we were represented on the committee that developed the first charity Statement of Recommended Practice (SORP) and have actively contributed to the changes taking shape in the new Millennium.
Charities are a very significant part of the Buzzacott client base. We now act for over 300 charity and not-for-profit organisations in all parts of the sector - with particular concentration in education, faith-based groups, welfare and charities operating overseas and a growing focus on social enterprises.
Buzzacott is registered to carry out audit work by the Institute of Chartered Accountants in England and Wales
Audit and assurance
As well as statutory audit assignments, we undertake a variety of other assignments for clients. We provide outsourced internal audit services operating to Government and other required standards. We can design and deliver bespoke assurance projects such as reviews of internal control procedures or compliance checks on the operation of specific systems and procedures. We report as required by funders on specific programme funding.
Financial reporting
Acting as a supporting document to funding bids and as an update for existing supporters, beneficiaries and other stakeholders, the annual report and accounts - or summary - is one of the most important communication channels for many charities. We also draw on our broad experience to advise on presentational aspects, for example presenting key figures and financial highlights in an Annual Review.
Taxation
Our tax specialists provide guidance which enables clients to minimise exposure to unnecessary tax burdens. We have helped many clients establishing trading subsidiaries to manage direct tax liabilities. We also administer compliance with the Self Assessment Tax Return. Our charity VAT specialists advise on the many aspects of this tax which charities are particularly exposed to.
Consulting and IT
Our IT consultancy, Buzzacott Computer Services Limited (BCS) advises on the selection installation and implementation of many types of software - including accounting systems, membership databases and office productivity suites. BCS is the UK and European distributor of GIFTS(tm), the world's leading grant management software. As well as grant making charities, GIFTS(tm) has been implemented by a number of Corporate Social Responsibility programmes as well as Government and Lottery funded grant makers.