Independent Examination/Audit

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in General accounting discussion
I do an independent examination each year for a charity, but last year they hit £313,000 turnover. Who is qualified to do the auditing of charity accounts at this level? (Next year I can carry on because the turnover limit has been increased to £500,000).

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Independent Examination/Audit

    It would be a qualified accountant with registered auditor status who would need to audit the charity accounts.

    Kind regards
    Steve
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Independent Examination

    Out of interest TC - do you do your independent examination as a MIP of AAT or have you joined ACIE (Association of Charity Independent Examiners) as well.

    I too, do local Independent Examinations for charities as a voluntary service to the local community and have started going down the ACIE route as an associate member but am wondering whether it is necessary, although their full member's directory does give an advertising opportunity. However since I am doing this on a voluntary basis I wouldn't want the entire charity world to be asking each year.
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:Independent Examination/Audit

    I do this as a MIP of AAT. I did look into ACIE, but couldn't really see the point. I have always made a small charge, but the paperwork is none by a "financial bod", so they are always in good order and easy to check through.

    On another note are there any auditors out there - Norfolk/Suffolk, who would be interested in this one - they are a charity, but don't expect this work done for nothing!

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