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Independent Examination of Accounts More and more funders are requesting that voluntary groups annual accounts are presented in a specific format governed by guidelines provided by the Charity Commission and that they have been independently examined by a qualified accountant. Although there is no requirements for groups with a turnover of less than £10,000 to have this done, it does provide funders with information they need in assessing funding bids and demonstrates good practice and financial management of the group by having their accounts prepared and independently examined. This service is not the same as having an audit but merely checks systems and procedures of recording and maintaining finance within a group or organisation ensuring that restricted funds are spent in line with funding agreements and that sufficient free reserves are being generated and managed by the committee or board of trustees in line with the objects of the groups, organisation or registered charity. At ERYCA we provide you with the necessary support, guidance and information during this process to ensure you are entirely happy with the process of independent examination. We also provide as part of this service a management letter for the trustees outlining areas of potential weekness and recommendations to ensure you are protecting yourself from liability as trustees and that you fully understand the accounts that are presented to you. We are also happy to assist you with making improvements to procedures, financial monitoring and internal systems of financial control at no extra charge. If you require further information regarding this service or would like to book an independent examination please contact Martin Crossland on 0779 368 0821 or email: martincrossland@eryca.net |
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