Does every Scottish charity need accounts?
The short answer is Yes. The Office of the Scottish Charity Regulator (OSCR) requires regular accounts to be submitted within a specified timescale.
There are specific rules and guidelines setting out how charity accounting must be reported.
Charity trustees are custodians of other people’s money and are accountable in terms of how the funds are managed and applied.
Regular accounts, if accurate and well presented, provide a useful mechanism for the charity trustees to assess the performance of the charity and make sure that funds are being managed and applied in line with their legal duties and charitable objectives.