The proposals, which impact charities in England and Wales, would see independent examination thresholds remaining at current levels, possible additions to the list of independent examiner bodies and an increase in the audit threshold.

The short consultation closes on 27 January 2015, with the promise that any changes following the consultation will come into force on 6 April 2015.

The proposals, which impact charities in England and Wales, would see independent examination thresholds remaining at current levels, possible additions to the list of independent examiner bodies and an increase in the audit threshold. The proposed new audit threshold would be where a charity has:

• An income of more than £1 million; or
• One of the following options highlighted in the consultation:
  • Assets worth more than £3.26 million and an income of more than £500,000;
  • Assets worth more than £5 million and an income of more than £500,000.