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Trustees report on trust accounts

What would you expect?

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The trustees of a trust (not a charity) have produced the annual accounts and sent them to the beneficiaries.

Would it be usual for those accounts to be formally approved by the trustees in some way?

And if so how would that be best done?

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By Accountant A
13th Aug 2018 00:41

What does the trust deed say?

Are there any regulatory/statutory obligations in point (eg, charity)?

How have the trustees "produced the annual accounts"? Which of the trustees were involved? Given the legal position of trustees, do they not feel it might be appropriate to exercise some oversight?

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