The Treasurer of the Parochial Church Council (PCC) has asked me to act as Independent Examiner of the PCC's Financial Statments and I was wondering if I am required to be a fully qualified Chartered Accountant?
I am aware of the responsibilities as laid down in section 43 of the Charities Act 1993 and sections 24-26 opf the Church Accounting Regulations 1997 - 2001. The Accounts will not be required to be Audited.
Sue Stannard
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Independent Examiner.
I have acted in that capacity for a couple of charities.
1) There is an income and an asset threshold. If the income or the assets are over this threshold, you can not do this. You can get the threshold from CAF.
2) The charity must do due diligence when appointing an unqualified Examiner. They must be able to state they had reason to believe you would be able to complete a full audit despite not having any qualifications. A typical reason (the one my charities use) is that I am not qualified in the UK, but I do have qualifications in another county. Another typical reason is that you are recently graduated and are studying for your qualifications.
Usually not
From the Charities' Commission website: "Whilst examiners do not have to hold a professional accountancy qualification, the trustees must appoint a person suitable for the circumstances of the charity. It is strongly recommended that trustees of charities with gross assets in excess of £1,000,000, or gross income of more than £100,000 but below the compulsory audit threshold, should select a qualified accountant (or an individual with similar qualifications in charity finance at an appropriate level) to carry out the independent examination. In other cases where the accounts are prepared on the accruals basis in accordance with Regulations, a commensurate understanding of accountancy principles and accounting standards will still be needed. Experience of charity administration and accounting is desirable. The guidance also gives consideration to the criteria of independence when selecting an examiner. The prospective examiner should consider these guidelines prior to accepting appointment."
To find out more, follow this link:
http://www.charity-commission.gov.uk/publications/cc63.asp