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The number of charities which require independent examinations has significantly increased in recent years, resulting in many firms now undertaking such work.
The Independent Examination for Charities module has been developed to enable the accountant and / or examiner to satisfy the accounting and examination requirements relating to charities; and provide your charity client with a comprehensive but cost-effective service.
This toolkit (which covers charities registered in England & Wales, Scotland and Northern Ireland) provides you with all the necessary guidance and work programmes, including the additional work required by the Charity Commission when consolidated accounts are examined, to help ensure an effective and efficient examination is performed.
Accounts Disclosure Checklist
Full accounts disclosure checklist for FRS 102 accounts (including group accounts) and receipts and payment accounts.
Work Programme Template
A work programme template from planning through to completion, which covers all the work required by the relevant Charity Regulator which can be downloaded and tailored where necessary.
This detailed work programme includes a pack of documentation for an independent examination, with schedules to assist in the recording and carrying out of the necessary steps, covering planning fieldwork and completion documentation. Lead schedules and file dividers are also provided.
Guidance Notes
Full guidance notes on different charity constitutions, accounting requirements (including flowcharts), examiner reports and whistleblowing requirements, and where further guidance can be obtained.
Engagement Letter
Engagement letter and management representation letter templates.
Example Reports
Example independent examiner reports, including ones for consolidated accounts when the parent entity is a limited company or trust.
Links to Example Accounts
Guidance on example accounts available and links to where they can be downloaded.
July 2020
The method of delivery has changed and as such the layout and structure of the manual has been updated. For further details, please see the what’s changed guidance included within the product.
December 2019
In November 2019 the Joint SORP-Making Body (the Charity Commission for England and Wales, the Charity Commission for Northern Ireland and the Office of the Scottish Charity Regulator) published the second edition of the Charities SORP (FRS 102), dated October 2019. In essence it consolidates the changes to the SORP with Update Bulletins 1 and 2, and also for changes to UK-Irish Generally Accepted Accounting Practice since the initial launch of the Charities SORP (FRS 102) in 2014. It is effective for accounting periods commencing on or after 1 January 2019.
Whilst it is understood there are no substantive changes to accounting/disclosure requirements, the Independent Examination module will be updated where necessary by the end of the year.
September 2019
The guidance notes, example accounts and disclosure checklists have been updated to reflect the changes introduced to the Charities SORP by Update Bulletin 2 issued in October 2018, and mandatory for periods commencing on or after 1 January 2019.
The guidance notes and work programme have been amended to reflect the latest independent examination guidance issued in April 2019 by the Office of Scottish Charity Regulator.
The whistleblowing checklist has been updated for best practice amendments issued jointly by the Regulators in May 2019.
February 2019
The SORP checklist has been updated to reflect clarifying amendments from Update Bulletin 2 regarding comparative information effective immediately, but does not yet include any significant amendments effective for reporting periods beginning on or after 1 January 2019.
Therefore this checklist should only be used for reporting periods beginning before 1 January 2019. The next update will include the significant amendments of Update Bulletin 2.
| Annual subscription fee | |
| Number of principals within the firms - 1* | £130.00 |
| Number of principals within the firm - 2-9* | £150.00 |
| Number of principals within the firm - 10-19* | £180.00 |
For 20 or more principals please contact us at sales@mercia-group.com or call 0330 058 7141.
*Mercia Members receive a 10% discount.
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Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email.
Your subscription will automatically auto-renew on anniversary date, you will be notified by email before your subscription expires and offered the option to opt out of auto-renewal.
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