Charities Independent Examination
Our professional independent examination service provides you with peace of mind, ensuring you are fully compliant with the law and development on charity finances. We are experienced in undertaking independent examinations for charities and not for profit organisations, ensuring they comply with rules and regulations, including those set out by the Charities Commission.
Our independent examination approach begins with assessing those areas of particular financial risk, and includes making recommendations for the trustees and management to assist with managing these risks effectively. You will find that our approach is objective yet personal, offering you with independent expert insight and year-round support, often acting as an informal sounding board when you need that fresh perspective.
Running a not for profit organisation effectively is a challenging task in the current economic climate. The right professional advice can make all the difference, with the combined pressure of raising funds, managing your finances, meeting stakeholder demands and keeping on top of the constantly changing regulatory and legal framework.
As regulation continues to increase, The Charities Act legislation and the Charity Commissioners guidance have to be followed. Exact needs can vary with the type and size of charity.
ABS Accountancy can help you meet all these challenges by delivering a comprehensive range of accounting services as well as a wide range of other specially tailored offerings for the not for profit sector including trustee training, charity bookkeeping, gift aid, independent examination and VAT.
Specialist charities advice from ABS Accountants.
ABS Accountancy provides a complete and efficient service in a highly complex and regulated field, our team can help to guide your organisation through the accounting minefield, so that you can concentrate on making a difference to people’s lives.
We will examine your accounts and systems to ensure they provide a sound basis for the preparation of your annual accounts as well as meeting the Charity Commission’s best practice requirements. We’ll also formally report to your Board of Trustees.
Our independent examination approach is based on risk with emphasis on the areas of greatest risk to your charity. As well as checking that your accounts and systems to ensure they provide a sound basis for the preparation of your annual accounts as well as meeting the Charity Commission’s best practice requirements. We will get to understand and evaluate the risks in your operations and we will continuously refine our approach to ensure that it is appropriate to the charity’s risk profile.
By using ABS Accountancy for your charities independent examination, you can be assured that we:
- Understand the objectives and strategies of the charity;
- Understand the processes and factors that drive the charities performance;
- Identify areas risks and evaluate the design and operating effectiveness of controls;
- Carry out detailed examination work focusing on areas of particular risk, weakness and non-routine transactions, as well as points raised from the previous period;
- We will provide frequent and informal feedback on key issues throughout the examination process, and provide a formal reporting process at the end result in opportunities for improvement;
- Provide advice and support on of key issues;
- Provide guidance and support to the trustees;
- Provide a constructive contribution to the charity;
- Cause a minimum of disruption to the operations of the charity;
- Provide constructive advice – via a management letter, taking into account your resources and sector of operation;
- Add value to the charity wherever possible.
We keep in touch with you throughout the year, so we are familiar with any major developments. Time spent at the planning stage can help to avoid those unwanted & unpleasant surprises and misunderstandings over what we expect of each other. It also ensures the minimum of disruption, and helps to ensure you gain the maximum benefit from the process. Our director Tom Lowe firmly believes “That failing to plan, is planning to fail”
Alongside our independent examination and accountancy compliance services we offer:
- Support to charities looking for a professionally qualified partner who understands their challenges and who has considerable experience in the principles of Statement of Recommended Practice (SORP);
- Assistance with implementing systems and procedures for effective accounting, tax planning and VAT management;
- Advice on governance matters, risk management strategies and internal controls;
- Effective and sustainable solutions to create better planning and operational management within your charity;
- Advice on setting up non-charitable trading subsidiaries.
We understand the pressure to maximise funds and make the most of every fundraising opportunity. Led by our director Tom Lowe. ABS Accountancy provides the strategic advice you need to achieve your organisation’s objectives. We are based in the very heart of the Peak District National Park and our spread of clients ranges from very local to beyond.