Determinants and quality of audits and reviews of small charities financial statements

Using a random sample of 500 Australian small charities, we first identified the determinants for 56 charities disclosing audit/review reports (53 audits and three reviews) from 110 voluntarily lodging annual reports. Sequential logistic regression showed that are larger, rely more on government grants use accrual accounting, while factors explaining disclosure charities' deductible gift recipient status, organizational age, again accounting. Second, 53 audit engagements identified, examined quality using five measures significant concerns, including only 34% fully complying with reporting requirements Australian/International Auditing Standard 700. Third, tracing 2014 to 2018, plus 100 largest public-interest little change was in provision versus reviews. The implications our findings firms, regulators standard-setters were considered.