Accountancy Ireland : The Charities Bill 2007 - A new regime for Charities

Accountancy Ireland : The Charities Bill 2007 - A new regime for Charities: "THE CHARITIES BILL 2007 - A NEW REGIME FOR CHARITIES
By: Teresa Harrington
By: Irene O'Keeffe
Volume :: 39
Number :: 4

By Teresa Harrington, Charity and Not-For-Profit Sector Leader, PwC and Irene O’Keeffe, Director, Charity and Not-For-Profit Sector, PwC

The recently introduced Charities Bill is the first piece of charities legislation in Ireland in 30 years. It constitutes a major revamp of the regulatory environment for this important sector which represents approximately 8% of Ireland’s GDP. The Bill will provide clarity to the sector, protect it and enhance public trust and confidence. The Bill further reflects key principles of transparency, accountability and good governance outlined in the General Scheme for the Charities Regulation Bill, 2006 and reflects many of the suggestions and contributions submitted during the consultation period by organisations operating in the sector. Irish charities are well regarded at home and throughout the world. This well deserved reputation will now be underpinned by a system of regulation that protects and enhances it."