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Voluntary work - do I need a LOE

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I have been asked to provide a quick review of a local committee's accounts. They aren't really accounts, just a justification of expenses, so everybody can see where the committee's money is going. It is only a small affair, less than £10k in the bank

I will do it on a voluntary basis, it should take maybe an hour at most. I would be required to provide a review every quarter. 

My question is, do I need to put a LOE in place?

Replies (12)

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By paul.benny
15th Oct 2020 10:52

I would.
Maybe not the format you would for a regular client, but good to set out what you are and aren't doing, the responsibilities of the parties.

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RLI
By lionofludesch
15th Oct 2020 11:12

I wouldn't.

But you probably should.

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By OldParkAcct
15th Oct 2020 12:10

Personally, would rather pay someone from my own pocket to do the work than do it on voluntary basis, "quick" jobs like this end up being a source of pain.
If you do decide to accept the work then you certainly need a clear LOE so everyone understands what you are, and perhaps more importantly what you are not, doing as part of the role.

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By Tax Dragon
15th Oct 2020 12:47

I vote yes.

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By harpsong
15th Oct 2020 13:28

Thank you all, I will issue a LOE, albeit a very reduced one. I suspect I will spend more time on the LOE than on the accounts.

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Replying to harpsong:
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By Wanderer
16th Oct 2020 09:13

As is the case on much we do.
Lots of time spent on CDD/KYC, annual checks, LoEs, quality control etc. etc. And don't get me started on small audits!

More time spent of the bureaucracy than actually doing the job.

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By Justin Bryant
16th Oct 2020 09:09

Since you can potentially be sued, you'd be a fool not to (if only to limit your liability in negligence).

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Replying to Justin Bryant:
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By Tax Dragon
16th Oct 2020 09:58

^This^

It's key, yet too few accountants seem to understand this point.

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By Matrix
16th Oct 2020 09:25

Whether you do or don’t, I would check whether this work is covered by your PII.

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Replying to Matrix:
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By Justin Bryant
16th Oct 2020 09:30

It possibly (or probably) won't be without a valid LoE in place.

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Replying to Justin Bryant:
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By Matrix
16th Oct 2020 09:45

But with a valid LofE but no charge would the work be covered?

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Replying to Matrix:
Jane
By Jane Evans
16th Oct 2020 17:51

If you are in the ICAEW join the volunteering community. It provides free PII cover for your volunteer roles. Really useful benefit.

https://www.icaew.com/groups-and-networks/communities/volunteering

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