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Ind.examination of sports clubs accounts

What would you charge for an independent examination of a sports club's accounts?

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A small sports club has asked us to quote for an accountants independent examination of the club's accounts once a year. The Club is small with membership fees at £38k per annum and expenses of approximately £36K per annum. They use simple bookkeeping software so there are decent enough records.

If any of you do this kind of thing it would be really helpful to know what kind of fees you charge.

Thanks in advance. 

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By OldParkAcct
29th Oct 2021 18:38

Would suggest avoiding whatever the fee is. Some of the membership will constantly think the committee are acting improperly and question the validity of the accounts and you will end up being in the middle of their bickering.

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Replying to OldParkAcct:
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By Paul Crowley
30th Oct 2021 09:07

These are just trouble
Too many people, too many opinions, too many egos

You are likely to get members calling you telling all sorts of stories

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ALISK
By atleastisoundknowledgable...
29th Oct 2021 19:04

I tend to pitch at 90% of what I would charge a ltd.

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By jonharris999
29th Oct 2021 21:27

Are they asking because they are a Charity, and therefore require Independent Examination because they are over the threshold for this?

If so - that phrase has a very specific meaning in charity law, and a nice long checklist which will take you a good couple of hours to work through, even if the books are perfectly presented and you have no follow-up queries (which once happened to me in about 1972).

If they are not a charity, I think my first instinct would be to steer them away from the idea. They won't want to pay what you will want to charge, and why would they bother? If the Treasurer is cooking such paltry books, they need to get a life instead.

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By ireallyshouldknowthisbut
30th Oct 2021 10:36

I tell everyone locally I cant do this as I am ICAEW and am not a registered auditor so cannot undertake any sort of independent examination.

I don't think that is even right and I don't plan to find out, but it avoids getting dragged into this sort of thing.

I already give "advice" to several local social enterprises and its all retired Alpha Males ego workouts. They spent hours arguing over something one of them could have done in 5 minutes.

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Replying to ireallyshouldknowthisbut:
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By Paul Crowley
30th Oct 2021 10:52

+1
The same thing can easily occur on property service charge companies

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Replying to ireallyshouldknowthisbut:
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By lionofludesch
30th Oct 2021 18:20

ireallyshouldknowthisbut wrote:

I tell everyone locally I cant do this as I am ICAEW and am not a registered auditor so cannot undertake any sort of independent examination.

Too late !

You don't need any qualifications to be an independent examiner.

Youreallyshouldknowthis.

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Replying to lionofludesch:
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By jonharris999
30th Oct 2021 18:40

I think that deserves a qualification: you do if it's a charity and it earns more than a certain amount. (I accept that we don't know if this org is or isn't, and even if it is, it doesn't earn enough, in this case.)

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Replying to lionofludesch:
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By jonharris999
30th Oct 2021 18:41

.

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By williams lester accountants
30th Oct 2021 17:12

I would be quoting around £1,500+vat

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By Truthsayer
31st Oct 2021 11:16

I would quote around £300 for an examination and accounts preparation, assuming the records don't need significant work. I would likely quote £500-£1000 if there was a lot of work needed on the books, as is usually the case. After the first year, you can assess whether the membership are troublesome, and if they are, increase the next year's fee to cover the hassle. Although some voluntary organisations are a source of constant trouble, a lot aren't.

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By lionofludesch
31st Oct 2021 11:31

Truthsayer wrote:

I would quote around £300 for an examination ...

Very generous.

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