Updated for all legislation to 31/12/14
This is now obsolete and will be replaced by an update shortly. However, the basic principles still apply but some of the statutory references may need amendment
The documents in this bundle are for documenting and managing an independent examination under the legislation of England & Wales.
This useful bundle of standards letters, minutes, elections and checklists which both charity trustees and Independent examiners can use to comply with the statutory process of appointing an Independent Examiner and conducting an Independent Examination.
The bundle contains:
- Letters of engagement for all types of charities in England & Wales subject to independent examination, meeting the requirements of Charity law, Company law and EU law and the professional requirements of the main accountancy bodies, with references to statutes and regulations in force in the jurisdiction of England & Wales.
- Sample reports for use by examiners for all types of charities in England & Wales subject to independent examination, meeting the requirements not only of the Charity Commission but the requirements of the professional bodies and of good practice.
- Specimen minutes governing the selection by trustees of the relevant kind of accounts preparation and scrutiny.
- Specimen minutes and letters etc dealing with the correct procedures to follow when appointing an independent examiner
- Specimen letters, forms and procedures to guide trustees when preparing information for their examiner
- Specimen letters and forms for use by an examiner when managing the process of accounts production, examination and finalisation in accordance with the relevant legislation and good professional practice.
- Standard letters to use when writing to third parties during an examination.
- Standard letters and guidance from an examiner to trustees to assist them in drafting their trustees' report in accordance with the law.
- Standard letters for use by an examiner to record and control the nature of accounting records and books supplied and how they have been dealt with and ultimately returned to the charity.
The bundle does not contain documents for Cross border charities operating in both Scotland and England & Wales - Such documents are available separately.
A similar bundle is available for charities registered in Scotland - product code CHA/090012/13
The bundle of documents is downloaded to your computer. You create a shortcut on your desktop to an index and contents document. Within the index and contents document are links to all the documents in the bundle. You can then copy any document you wish, amend it to your requirements, and incorporate the revised document in your own practice systems.
Restrictions
There is no limit on the number of clients for which the file can be used, except that the licence is for one year only and one office of a practice only. You need Word 2003 or above and Adobe reader installed on your computer
Charity accounts are complex, and those accountants who do not prepare many charity accounts are often unaware of the pitfalls and some of the complexities.
There are a number of legal requirements laid down in the Directions and Guidance from the Charity Commission in England & Wales. These have the force of law, and include a process of due diligence both by the independent examiner and by the trustees of the charity. In addition, there are a number of requirements laid down in the practice rules of the professional bodies.
If the paperwork is not right, then:
- The incorrect form of scrutiny may be adopted.
- The appointment of the examiner may be invalid
- The trustees may not be complying with their legal duties
- There could be consequences both in law and professionally for the independent examiner
This bundle of documents will enable an independent examiner to get it right. There is nothing in the bundle which is difficult or complicated. A competent accountant, with a few hours research could develop a similar bundle for his or her own use. But why bother? It has already been done for you for only £15.
The manual for this product can be downloaded free of charge. Click here
Word 2003 or above is required to be installed on the user's computer
Prices
- Licence fee for 2015 version is £15 per computer
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Additional licences at £15 must be purchased for additional computers
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Feom January 1st 2015, no VAT is added to the prices
Expiry and renewal details
- Free upgrades for the life of the 2015 version (to 31/12/15)
- You can make sure you have the benefit of any upgrades by logging in to your account on the Sorpaid Shop website
- 2016 version available for purchase in January 2016
