I have been appointed as an Independent Reviewer of the accounts of a small sports club. Its gross turnover is around £100,000. It is a Company Limited by Guarantee - but it is not a registered charity with the Charity Commission. I can find plenty of guidance on how an independent examiner should present their report for a charitable Company Limited by Guarantee but none for a small Non-Charitable Company Limited by Guarantee. Does such guidance exist please?
Replies (6)
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Hmm...
Before accepting the appointment, did you ask the club why they want/need an independent review? That should give you a clue about the standards required...
ICAEW used
to publish a book about clubs and associations and had some splendid help on accounts prep etc. If you are a member try speaking to the library to see if they still have a copy
If...
.. this is a purely voluntary review (like an internal audit, i.e it's not required by law or the Articles of Association) then you wouldn't expect to find guidance. Your report is only going to go to the club, so use your professional skill & judgment...
So it's up to you to agree terms of reference with the club beforehand (perhaps saying 'based on the Charity Commission's directions to independent examiners where appropriate')
Rules
Yes - if it's not demanded by some law or other, the company makes up its own rules.