Course 2 : Charity accounts and external scrutiny update , and practical matters relating to charities, including trading by charities, tax and VAT, CIOs and the SORP

Format : Full day course     |     Duration : 9.30am-4pm     |    Buffet lunch provided

Who is this course designed for ?

• For accountants (and their staff) who carry out Independent Examinations or audits of Charities
• For advisors who advise charities on governance matters
• Community accountants

Charity  trustees and managers may also find the course useful, although it is primarily directed at the practising accountant.

What are the subjects to be covered?

External scrutiny of charities

• Under the new law, what are the different types of external scrutiny?
• Who is permitted to carry out an independent examination?
• How do you carry out an independent examination?
• What documentation do you need to keep?
• What is the difference between an audit of an incorporated charity under the Charities Act as compared with an audit under the Companies Act?
• When is an audit necessary?
• When is a charity exempt from scrutiny?
• The very real difference between PRODUCING a set of charity accounts and carrying out an INDEPENDENT EXAMINATION – the professional and legal pitfalls.

The SORP

• A brief update and review of the SORP
• How does IFRS impact on the SORP?

Income tax and VAT as it affects charities

• Trading by charities
• Permitted and none permitted trading – how tax exemptions can be lost – and how to take action to make non permitted trading lawful
• Joint contracts of employment with trading subsidiaries
• VAT reliefs, concessions and exemptions (This is relevant even to charities who are NOT VAT registered - we have received refunds of over £70,000 in two cases)
• VAT health checks on clients – obtaining refunds
• IXBRL for charities – HMRC concessions.

Opportunities for accountants to advise their charity clients

• CIO conversions – the pros and cons – how the accountant can help
• VAT recoveries and planning
• Trading subsidiaries
• Risk management – a statutory requirement
• Employment issues for charities (presented by the leading experts Pensinsula)

The course complements the course offered in the first round of courses on Charity law, practice and governance update, and it might be of advantage to attend both courses, or for some staff to attend one , and others to attend the other. Both courses can be booked at a discount of 10%.

The course will also look briefly in summary at issues that were looked at in much more depth in the first round of courses - all this section of the day will do is provide pointers to what trustees and advisors may want to look at in greater detail-

• What should be in the trustees annual report and how should it be prepared?
• Recent changes in charity law – implementation of the Charities Act – what to look out for
• The changing role of the Charity Commission
• Health and Safety issues for charities (Presented by the leading experts, Pensinsula
• Changes to Gift Aid
• The new ‘Fit and proper’ tests for new trustees
• State Aid and contracting with public authorities

Course dates and locations:

07/04/11 Peterborough The Christie Hall, Elton Road, Wansford, Cambs. PE8 6JS.        
12/04/11 Birmingham Dame Elizabeth Hall, Firbank Close, Birmingham, West Midlands. B30 1UA
13/04/11 Leeds St Marks House, 1 St Mark's Ave, Leeds, West Yorkshire LS2 9BN