Cancer charity censured over financial records
Charities Regulator imposes sanctions on the Good and New Shop over fiscal procedures
The Charities Regulator has imposed sanctions on a Donegal-based charity over its failure to keep proper financial records. File photograph: Getty Images
The Charities Regulator has imposed sanctions on a Donegal-based charity which provides support to people with cancer over its failure to keep proper financial records, warning it that unless it gets its house in order it will be prosecuted.
The Good and New Shop, which raises funds to cover the cost of transport services for people requiring cancer treatments, was rapped over the knuckles for its accounting procedures by the regulator in an admonishment that was accepted by the trustees of the charity on February 13th.
The regulator’s ruling requires the charity to “rectify the contravention” in its bookkeeping before Monday, March 26th, and to take a series of steps to make sure no breaches reoccur.
As part of that process, the charity will have to introduce formal documented procedures for maintaining adequate accounting records and assign the task of keeping proper books of account to someone who is qualified to do it.
It has also been ordered to introduce regular financial reporting that will have to detail the income and expenditure and other assets and liabilities of the charity, and to ensure all financial reports are scrutinised by the charity trustees.
The charity has been warned that if it fails to comply with the notice it will face prosecution.
“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.