Accounts Auditing

Home Forums UK Men’s Sheds Forum Managing Sheds Accounts Auditing

Tagged: ,

This topic contains 1 reply, has 2 voices, and was last updated by  Treasurer 2 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #2661

    How do Sheds approach the subject of getting their books of account audited/checked by an independent person? Its a question that I often get asked.

    #2761

    Treasurer
    Keymaster

    Unless your constitution requires it you do not have to have an independent examination (or audit) if your income is below £25,000.

    Even then the Independent Examiner does not have to be a qualified accountant unless your income exceeds £250,000. Audits are only required when your income exceeds £500,000.

    You just need to find someone who the trustees believe is sufficiently competent to look over the accounting records (to confirm records have been maintained) and to check the accounts (Receipts and Payments) agree to these records. They should follow the Charity Commission guidance for Independent Examiners which is available on the CC website.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.