Preparation and audit of charity accounts - an introduction
SPECIAL OFFER PRICE FOR ICAS MEMBERS: £130 + VAT
Non-member price: £170 + VAT
Online Live, 24 July 2020
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Charity annual reports and accounts are very different to those of companies in the 'for-profit' sector.
This seminar will use case studies and real-life examples to provide a detailed insight into what is required, how to compile a set of financial statements for a charity which is compliant with the charity SORP and how to approach an audit or independent examination.
Who should attend
This introductory course is targeted at accountants and auditors with limited prior experience of charity accounts.
A good understanding of general accounting principles is, however, required.
What you will learn
- Appreciate the key features of the regulatory and legal framework applying to Scottish charities, including the requirement for audit and independent examination;
- Understand the format and content of charity accounts under the charity SORP and how these differ from accounts in the ‘for profit’ sector;
- Confidently approach trickier income recognition and fund accounting issues often faced by charities using relevant SORP principles and be able to differentiate the approach required to that used by commercial companies; and
- Understand how to approach a charity audit or independent examination and how to deal with some of the more challenging issues it throws up.
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