The Charities Act 2009 has been passed by the Houses of the Oireachtas. The detailed provisions of the Act will come into force on dates to be specified by Commencement Orders to be made in due course by the Minister for Community, Rural and Gaeltacht Affairs.
The Act, in establishing a new statutory framework for charities operating in the Republic of Ireland whether or not the charity is established in this jurisdiction, provides for:
- Definitions of "charitable purposes" and "purposes for the benefit of the community";
- Charities Regulatory Authority ('this Authority') to secure compliance by charities with their legal obligations and to encourage and facilitate better administration of charities;
- All charities are obliged to register with this Authority;
- Charities required to maintain "proper books of account";
- Charities to prepary an annauual statement of accounts, to be audited and included in the charities annual report to be submitted to this Authority;
- Revised Statutory Framework for fund raising, including street collection and direct debit and similar non cash methods;
- Charities Appeal Tribunal;
- Consultation Panels to assist this Authority in its work; and
- Dissolution of the Commissioners of Charitable Donations.
The format and detailed content of the annual statements of account as well as provisions to the audit thereof will be determined by Ministrial Regulations. The relevant Department officials will consult with the accounting profession on the development of those Regulations.
A CCAB-I Memorandium will issue in the next few weeks summarising significant provisions of the Charities Act 2009. Detailed evidence on specific accounting and auditing requirements of the act will be prepared when the relevant Ministrial Regulations have been finalised.