SCR Charities

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Subscribers to small charity can access our online charity reporting manual containing explanatory notes and model working papers covering charity accounts preparation, independent examiners reports, and small charity audits, charity accounts checklists and specimen accounts.

Subscribers also receive a twice yearly bulletin incorporating update pages, and written permission to copy working papers, checklists and specimen accounts for their own use.

The updates and bulletin are generally published at the end of April and October each year and are sent to subscribers by the end of the following month. However, publication dates may be varied to reflect recent or pending developments and where appropriate the period covered by the subscription is extended.

Part 1 - introduction

Small Charity Reporting is designed to be used in preparing and reporting on the accounts of typical small charities. The manual covers assignments where the firm:

    only prepares accounts;

    prepares accounts and makes an independent examiner' report or accountant's report;

    prepares accounts and carries out an audit

However, the working papers also cover situations in which the accounts are prepared by the charity and a firm of accountants is only required to make a report.

The working papers are designed to enable a firm to carry out the assignment efficiently and effectively and to be able to demonstrate that it has complied with all relevant professional standards and guidance. The working papers therefore reflect requirements and guidance contained in:

    the Charities Act 2011, the current Charity (Accounts and Reports) Regulations and the Companies Act 2006, and regulations issued thereunder;

    other legislation under which charities are registered including those registered in Scotland, as Industrial or Provident Societies, or under the Friendly Societies Act 1974.

    the SORP Accounting by Charities and the guidance statements Accounting by the Smaller Charity and Accruals Accounting by the Smaller Charity;

    accounting standards issued and adopted by the Accounting Standards Board auditing standards, practice notes, and bulletins issued bv the Auditing Practices Board, including Practice Note 11 The Audit of Charities;

    the statement of standards for reporting accountants - audit exemption reports;

    the guides to professional ethics and guidance for members in practice issued by the major professional accountancy bodies and

    the audit regulations of the major professional bodies.

The working papers are updated to reflect changes, including changes in charities legislation , the regulations governing charity accounts, relevant statements issued by the Accounting Standards Board, statements of recommended practice on charity accounts, and statements of the Auditing Practices Board and the major professional accountancy bodies.

The working papers and checklists are designed for use in a preparing and reporting on a range of smaller charities rather than the narrow definition used in the Charities Act and covers smaller charities registstered under the Companies Act, Scottish charities and those registered with the Mutual Socieities Division of the FSA.

Whilst the working papers have been designed to deal with the "typical" small charity, in practice no organisation is ever entirely typical. The working papers should be used flexibly, and adapted to meet the individual circumstances of each client. Where subscribers already have satisfactory or partly satisfactory audit working papers, the scr working papers may be used selectively to augment existing documentation, or for dealing with accounts preparation and audit exemption report assignments.

Part 2 – explanatory notes

The second section of the file includes an outline of the regulations governing the accounts of charities, including independent examination and audit, under both charities and companies legislation.

Part 3 - general working papers

The general working papers are designed for use in each of the three types of assignment covered by the manual, and include lead schedules, showing the source of figures in the accounts, and schedules for recording points arising and their disposal.

Part 4 - accounts preparation working papers

The accounts preparation working papers are designed for use in assignments where the treasurer of the charity maintains a cash book, and/or day books and, may or may not, prepare and balance a nominal ledger.

Part 5 - independent examination working papers

The independent examination working papers cover the work to be done where the firm requires a report by an independent examiner under charities legislation or a reporting accountant under companies legislation.

Part 6 - charity audit working papers

The audit working papers cover accounts preparation and, in addition, the extra work to be done where the charity is required or elects to have an audit. The working papers are designed to be simple enough to use with smaller clients whilst at the same time meeting all the requirements of auditing standards. The working papers include sections dealing with conclusions, planning and analytical review, an audit programme, and optional sections dealing with risk assessment, sampling and assessing going concern.

The working papers reflect the requirements of auditing standards and the guidance issued by the Auditing Practices Board in Practice Note 11 The Audit of Charities.

Part 7 - smaller charity accounts checklist

This section includes a checklist showing the disclosures required where a charity prepares accounts to comply with the guidance statements Accounting for the Smaller Charity or Accruals Accounting for the Smaller Charity.

Part 8 - charity accounts checklist

The checklist for non-corporate charities reflects the provisions of the Charity (Accounts and Reports) Regulations 2008, the SORP Accounting by Charities and the FRSSE. Disclosures not likely to apply to a small charity have been omitted. However, the checklist provides for the omissions to be identified.

Part 9 - company charity accounts checklist

The checklist for company charities reflects, the provisions of the Companies Act 2006, the SORP Accounting by Charities, and current accounting standards. Because charities are required to deposit full accounts drawn up in accordance with the SORP Accounting by Charities, the checklist does not deal with the special provisions allowed under the Companies Act Small Companies Regime.

Part 10 - specimen accounts

This section contains four sets of specimen accounts illustrating the content of the financial statements of a charity preparing

    a receipts and payments account in accordance with the guidance Accounting by the Smaller Charity

    a non-corporate charity preparing accounts in accordance with the guidance on applying the SORP to the Smaller Charity,

    a non-corporate charity preparing accounts in accordance with the Charity (Accounts and Reports) Regulations, and

    a charitable company preparing simplified accounts under the Companies Act.

The examples illustrate typical compliance with the provision contained in the checklists forming parts 7-9 of the file.

Part 11 - supplementary material

This section of the file contains material for dealing with charities registered in Scotland, as Industrial or Provident societies, under the Friendly Societies Act 1974, or under other provisions. It includes a checklist showing the requirements of the SORP Accounting by Charities and the provisions of other legislation under which charities are registered.

Part 12 – half - yearly bulletin

This section is used for filing the bulletin with articles on accounting, auditing, and legal matters affecting smaller charities. It includes regular features notebook on recent developments and points arising with suggested solutions to common problems.

Example copies of the bulletin may seen on the bulletin page.

Subscribe to SCR Charities for £100.00 + VAT per year