Describing the creation of a new charities regulator, The Irish Times says ' there is one subset of charities that will give pause for thought and these are what might best be called captive charities that are used by lawyers, accountants and others to structure financial transactions tax efficiently'. It explains that these are often 'very useful' for companies which want to hold an asset 'off balance sheet'. The newspaper says that 'passing the test of public opinion' might prove more difficult for law firms which, instead of trying to help the less fortunate, are trying to help the 'promoters' of these charities. Source: Irish Times