Baines Jewitt has bolstered its support for the charity and not-for-profit sector with the appointment of a new senior manager.
Kim Liu, who has relocated to the area, has been appointed as a charities and not-for-profit senior manager. She will work alongside existing director, Jed Lester, who has been with the firm for over 40 years.
Together, Jed and Kim will head up the Baines Jewitt team that supports a vast range of charitable and not-for-profit organisations in the Tees Valley, including private school funds, places of worship, schools, sports clubs, community groups and grant-making charities.
As a qualified chartered accountant, Kim has worked in London for most of her career and more recently in Leeds, where she specialised in audit and accountancy work for the charity and not-for-profit sector.
Kim’s appointment cements the understanding that charitable organisations now face increased cost pressures, donor fatigue and the need to meet legislative and reporting requirements, whilst also embracing digital tools and more streamlined ways of working.
In particular, the Charities Statement of Recommended Practice (SORP) 2026 introduces a number of significant changes to charity financial reporting, including the introduction of a three-tier reporting framework based on income level and a new module for lease accounting, revised income recognition and updated trustees’ annual report disclosures.
This places greater emphasis across the sector on transparency, governance and being audit-ready, proportionate to a charity’s size.
Outlining the pressures faced by the sector, the Charity Commission’s Charity Sector Risk Assessment 2025 highlighted growing concerns around financial resilience and the ability of charities to deliver public benefit.
The Commission cited that over 42% of charities reported expenditure exceeding income, with mounting pressure from rising costs – including a greater tax burden from changes such as the increase in the rate of employers’ National Insurance Contributions (NICs) and higher demand for services.
Talking of Kim’s appointment, along with the latest key changes affecting the charity and not-for-profit sector, Jed Lester, director, Baines Jewitt said:
“With greater complexity of compliance and finance, which includes enhanced disclosures on the nature and purpose of funds and greater alignment with financial regulations, it is a new world for charities.
“The new SORP regulations came into effect for reporting periods starting on, or after, 1st January 2026 and so we are urging organisations to get prepared and to start doing the groundwork now. To meet increased demands and to help ease the burden on organisations, their trustees and finance teams, we are delighted to welcome Kim to our firm.
“By strengthening our team, which provides careful financial stewardship, we can help organisations meet their legislative obligations, so they can consider their long term sustainability, resilience and scope for growth, whilst also focusing on the needs of the people and communities they serve.”
Talking of her new role, Kim Liu said:
“I’m looking forward to helping charities and not-for-profit organisations to publicly report performance against their strategic goals and operational objectives, whilst meeting the need for greater transparency.
“Acting as an objective, external member of their teams, I can assist with high quality financial reporting, risk assessment, compliance requirements, stakeholder management and process improvement.”
