Tuesday 31 October 2017
Accountancy Firm of the Year!
Following the news of our nomination last month, we were delighted to learn that we had actually won the Association of International Accountants (AIA) ‘Accountancy Firm of the Year’ award!
The award is made to an accountancy firm which has provided outstanding and innovative first class service and is a shining example to their industry and leads the way in best practice. The presentation was made at the accountancy body’s black-tie President's Dinner hosted by the broadcaster Andrew Castle held in London in early October. We were especially pleased about the award for the recognition and profile it brings to the vital area of community accounting within the wider accounting profession. There is further detail (with picture!) on our website.
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National Charity Fraud Awareness Week
Fraud is the most reported crime in the UK. Estimates of the scale of charity fraud in recent years have varied between nearly £150 million and almost £2 billion per year. Last week was National Charity Fraud Awareness Week.This was an initiative by a range of sector bodies to promote the awareness of fraud and encourage those working within or supporting the charity and voluntary sectors to become more fraud aware and resilient. An important point is that the risk of fraud is an issue for all charities big or small.
For those on twitter the hashtag #CharityFraudOut is a good summary of the range of activities and materials highlighted during the week.
The Charity Commission has produced updated guidance to help you protect your charity against fraud. If your charity has been the victim of fraud, it is important to report it to the relevant authorities. Reporting can help you access essential advice to get your charity back on track. You should report attempted or actual fraud to Action Fraud or call them on 0300 123 2040.
Our own accredited E-Learning course on financial controls may also be a useful resource for those wanting to improve their understanding of the necessary controls which can help to minimize the risk of fraud.
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Are your accounts really qualified?
We had a recent advice query from a charity which reported that a potential funder had asked why their accounts had been qualified. It transpired that the charity’s accounts had not been qualified but the incorrect box had been ticked when the accounts had been submitted to the Charity Commission. The Commission is not asking about a professional qualification but whether your Independent Examination report incorporated within your annual accounts is ‘qualified’ – ie your Examiner is reporting a problem or issue arising from their examination of your accounts.
The image above shows the relevant section of the Commission’s guidance when submitting your accounts (click here to enlarge). It shows how the form should be filled in if your accounts have not been qualified.
As a matter of course our accounts management letter always gives a reminder about the need to tick the correct box when submitting your charity’s accounts.
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Charity Commission newsletter
The Autumn edition (no. 58) of the Charity Commission’s newsletter is now available. As ever, it is essential reading for trustees and all involved with or interested in charities. This edition includes items on:
• information on submitting your 2017 annual return and an invite to influence the 2018 return
• the latest edition of the Charity Governance Code
• updated guidance on reporting serious incidents
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E-bulletin
Our e-bulletin is issued on a monthly basis and sent directly to registered subscribers. It is also available from our website. Please note that information and resources contained in the e-bulletin are general in nature and not intended as specific advice or recommendations. We welcome any feedback on the content and format so that we can improve it and make sure it meets your needs. Please let us know if you have any comments or suggestions.
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Our services
WYCAS provides a range of specialist services designed to meet the needs of the third sector:
• One to one support and training
• Preparation of year-end accounts
• Independent examination
• Financial training courses and workshops
• Computerising accounts
• Bookkeeping and management accounts
• Advice and information
• Bespoke consultancy projects
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