Debits, Credits, and Audits ……a road map to financial accountability
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Date:Februry 2009

All charities have an obligation to those that donate time, talent, or treasure to their organisation to account for how the gifts are used. The Centre on Philanthropy, through research conducted in 2004 and ongoing annual surveys, knows that charities want to be accountable to their supporters. Those that contribute are also becoming more interested in understanding how gifts are utilised within charitable organisations. In addition, those charities that are registered in Bermuda are required to present to the government an annual financial statement within six months of the charity’s year end.