The CCEW has published revised guidance as to how the independent examination of a charity should be undertaken. This follows a consultation exercise in 2016 and feedback received from the sector and the accounting profession.
The revised guidance includes three new directions regarding conflicts of interest, related party transactions disclosures and financial circumstances, with enhanced commentary to support each direction.
The updated guidance gives a framework for situations where small group accounts are being examined and provides a range of example reports which have been updated under the new directions. In addition to the updated guidance, there is also a new checklist which is intended to help examiners to fulfil their role.
While this guidance is mainly going to be of relevance to the examiner, trustees should also be aware of what the guidance covers and how this may impact on the timing and extent of work carried out by their examiners.
Examiners must work under the new directions and guidance when signing and dating their independent examiners report on or after 1 December 2017.
Updated 25 October 2017
This article features in our Charity Newsletter Autumn 2017. To see the full version please click here.
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