Are charities required to report the overseas expenditure/capital outlay/remittance of funds as agents as well as the corresponding countries in the financial statements?
The Office of the COC does not require this information to be reported in the notes to the financial statements. However, it encourages charities to include more voluntary disclosures of such information, in the spirit of accountability and transparency.
Related questions
What are the requirements on reporting on overseas expenditures, capital outlay and remittance of funds as agents? Why does the Office of the COC require charities to disclose overseas expenditure, capital outlay and remittance of funds as an agent or trustee?
Can the Office of the COC provide some examples how charities should report the overseas expenditure/capital outlay/remittance of funds?
Will my charity be required to make any changes to its accounting system?
What types of overseas capital outlay need to be disclosed? And how should my charity classify the disclosure of overseas capital outlay?
Need more help?
Get in touch