It’s a busy time of year for charities.
The Irish charity sector is coming under increasing pressure from unprecedented costs.
The Alzheimer Society of Ireland has said that unprecedented costs are impacting their limited resources and affecting their ability to fund research and deliver services.
Speaking at the Association of Chartered Certified Accountant’s (ACCA) Christmas lunch, Pat McLoughlin, Chief Executive of ASI has said that remaining compliant with the new regulatory environment has had a significant impact on their costs.
He specifically cited the establishment of GDPR protocols, the requirement for outsourced internal audit services and additional insurance costs which has cost €250k alone.
McLoughlin said it’s important that government funding as well as the private sector collaborate with charities and manage the new complexities facing the sector.
Charities in particular have struggled to cope with the increased costs associated with remaining GDPR compliant without additional help to meet the increased administrative demands.
“Over the last ten years, we have seen a substantial increase in costs facing charities,” McLoughlin said.
“This ultimately impacts our ability to carry out research and deliver services to those who are most in need across Irish society.
“With the number of people with dementia expected to double over the next 20 years, assistance from financial service bodies combined with further government funding is now a necessity.”
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