community interest company & audited accounts...

plzhelpmesave!

Hi
I need turn an unincorpoated organisation into a community interest company in order to be considered for certain projects and will need audited accounts.

Anyone know how much this should cost and what is involved??

Many thanks

heretolearn_2

If you really need audited accounts, (and not just an Independent Examination) then you have to go to a Registered Auditor. Most small accounting firms are pulling out of this area due to the level of risk and work compared to the fees smaller clients can pay for this. It's rapidly becoming only the big firms who do it. So you may have to hunt around a bit to find a fee you can afford. Audits generally you are looking at 1000s rather than 100s in cost. With the big audit firms, serious 1000s. We are Registered Auditors but we are deciding at a meeting later whether we want to continue with our audit registration or not for 2012 as we just can't afford to continue with it at current fee levels.

But anyway, it will involve an examination of your accounts and original documents and a visit to your premises, a check of some of the bank transactions (you will have to authorise your bank to share information). It shouldn't be too bad a process as long as you are fairly organised already.

plzhelpmesave!

thanks heretolearn. Part of the problem is we're not very organised already - think lots of paper collated in pile...
Will have to sort that out before getting audited then!

Savvy_Sue

Could be worth looking at the Independent Examiners website and e-newsletters, and contacting them for advice. Please google it as I'm on a very bad connection so hard to check link for you.