Charities Regulator imposes intermediate sanctions on Good and New shop

The Charities Regulator has imposed intermediate sanctions on the Good and New Shop in Letterkenny.

The Regulator issued the notice to the Good and New Shop following an on-site inspection by staff from the Regulator’s compliance and enforcement unit, which found that the charity is not in compliance with
its legal obligation to keep proper books of account.

The notice, which was accepted by the trustees of the charity yesterday, requires the Good and New charity to rectify the contravention no later than Monday March 26th.

The Charities Regulator says this must involve introduction of formal procedures for maintaining adequate accounting records, with the task of keepinjg proper books assigned to someone with the appropriate skills and experience.

Regular financial reporting detailing both income and assets and liabilities is also called for.

The Charities Regulator Chief Executive John Farrelly says while he notes the good work undertaken by the charity in providing much needed transport services to cancer patients, the trustees must take immediate steps to ensure proper books of account are being maintained.

Failure to comply, he says, may lead to a prosecution being brought against the charity.

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Statement in full –

The Charities Regulator has imposed intermediate sanctions on the
Donegal-based charity, Good and New Shop (Registered Charity Number
20074432), under section 73 of the Charities Act 2009.

The Charities Regulator issued a notice to the Good and New Shop following
an on-site  inspection by staff from the Regulator’s compliance and
enforcement unit, which found that the charity is not in compliance with
its legal obligation to keep proper books of account under Section 47 of
the Charities Act 2009

The notice, which was accepted by the trustees of the charity on 13
February 2018, requires the charity to:

   ·    rectify the contravention no later than Monday, 26 March 2018, and

   ·    adopt the following course of action for the purpose of ensuring that
      the contravention does not occur again:

            (i) introduce formal documented procedures for maintaining
                  adequate accounting records;

        (ii)    assign the task of keeping proper books of account to a
                person(s) with the appropriate skills and experience;

            (iii)       with regard to financial reporting  –

                  I.    introduce regular financial reporting detailing the
                     income and
                     expenditure (including the nature of that income and
                     expenditure) and the assets and liabilities of the
                     charity, and

                  II.   ensure all financial reports are scrutinised by the
                     charity trustees under a standing agenda item –
                     “financial performance and position of the charity” as
                     part of all trustee meetings.

Failure to comply with this notice will result in the Charities Regulator
bringing a prosecution against the Good and New Shop.

 “While I note the good work undertaken by the charity in providing much
needed transport services to cancer patients in the Donegal region, the
charity trustees need to take immediate steps to ensure proper books of
account are being maintained and that procedures are introduced, which will
facilitate them in providing the appropriate financial scrutiny and
oversight of the charity,” Charities Regulator Chief Executive John
Farrelly said.