Commission seeks feedback on digital accounts
The Charity Commission and the Financial Reporting Council are seeking views on allowing charities to file digital accounts.
The newly-launched consultation seeks input on the charity taxonomy – a type of digital data dictionary which defines the computer-readable tags that identify individual items of financial data in charity accounts for electronic filing and analytical purposes.
Announcing the consultation, the commission said around 70 per cent of companies file digital accounts with Companies House, and the regulator wants to enable charities to do the same.
The regulator said the move would make it easier and faster for charities that have to file with both the commission and Companies House. It would also be easier for those using digital accounts to extract and analyse information, the commission said.