Definition of Accountants Working Papers

We have recently been approached by a new accountant to take over the affairs of one of our clients

They have sent the usual courtesy letter & requested the normal information to prepare future account etc .We have given them permission to act &sent to them  numerous items such as Copies of Annual  Accounts,Bank Recocilliation ,Sundry Creditors & Debtors etc etc

We have  prepared quarterly vat returns on a cash accounting basis & at the same time incorporated bookkeeping by analysing income & expenditure and balancing

all bank transactions .We supplied to the new accountants copies of all the quarterly vat returns that we have prepared since the last account was prepared

The new accountants have now come back requesting copies of our working papers to arrive at our vat quarterly figures & bookkeeping schedules.This is something we have never asked for when taking over new clients from other accountants & are reluctant to release what we think are our own records & not those of the client

We appreciate that we need to take advise from our own accountancy body but research shows that the definition of accountants own working paper is not always as straight forward as it seems.We would be very grateful for your members views

 

C Cocker

 

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If you prepared the VAT for

pawncob |
pawncob's picture

Agree

DerekChaplin |
DerekChaplin's picture