Community group - audited accounts

heretolearn_2 · 7 June 2011 at 11:19PM

Continuing to go off the point a tiny bit - chartered accountants are not automatically qualified to do audits. It's a separate thing. Only a registered auditor (who will be some type of chartered - ACA or ACCA for example) can do an audit. The majority of accountants, chartered or otherwise, don't have audit registration.

There's no way this group can afford an audit, but presumably for a small grant for a small group the funder will be flexible.

Savvy_Sue · 8 June 2011 at 12:53AM

Agree with htl: I think a lot of us (non-accountants) don't distinguish between an audit and an independent examination of the accounts.

I work for a charity which historically hasn't been large enough to require an audit, except that when our governing document was drawn up 15+ years ago it said that we would have the accounts audited each year. We could have been making do with an independent examination, were it not for that governing document.

Hopefully an IE is all the OP will have to organise, and hopefully we haven't scared them off ...