My Latest Blogs
16th July 2014 Charity Accounting Disclosures

New Charities SORP Published The new Charities SORP was published today and will apply to the accounts of charities for financial years commencing on or after 1 January 2015. There are two versions, one based on Financial Reporting Standard FRS 102 (new UK GAAP which replaces all earlier financial reporting standards) and a second for…

11th April 2014 Academy Financial Compliance

Academies – 2013 Audit Outcomes There were 2,248 sets of audited accounts submitted to the EFA for the year ended 31st August 2013. Of these 25 (1.1%) had a qualified audit opinion and 73 (3.2%) had a qualified regularity opinion. Of the 25 qualified audit opinions, 21 of these resulted from failure to disclose trustee’s…

11th April 2014 Academy Audits

Academies:  2013 Audit Outcomes. There were 2,248 sets of audited accounts submitted to the EFA for the year ended 31st August 2013. Of these 25 (1.1%) had a qualified audit opinion and 73 (3.2%) had a qualified regularity opinion. Of the 25 qualified audit opinions, 21 of these resulted from failure to disclose trustees’ salaries.…

6th January 2013 Academy Office Holders

Academy Accounting Officer Academy boards should now be aware of the need to appoint an Accounting Officer, a role usually taken on by the Principal. He/she will have personal responsibility to Parliament for ‘regularity, propriety and value for money’. Broadly, these terms mean that the Accounting Officer must ensure that funding to the Academy is…