Trustee Expense of Post Board Meeting Dinner
Anonymous user
Leadership & Governance
Year end, Indepependent Examiner. Accrual Accounting and SORP
Robin Dean Administrator at Farmers Overseas Action Group Posted 8 days ago
We have moved from using Money to Xero and we are coming to our year end on 5th April with Money and Xero in parallel.
In previous years we have had our year end accounts produced by a donor (who has not wanted a fee) and a contact who has acted as the Independent Examiner (also for no fee). These people wish to retire!
One of our trustees wants to engage a local accountancy firm (I am unclear what work they are doing for a fee of about £2,900 - I assume that this includes VAT)
We would like to continue to work with local contacts for minimum fees (we understand that the Independent Examiner does not need to have a formal accounting qualification) - we are looking for these people.
Our Treasurer has recently received information on SORP - so far as I can see this will not materially affect us as our Gross Income is well below £250k although we are receiving legacies which in future years might push us over this figure - the problem being that we do not know how much or when we might receive these.
How much should I expect to pay for year end accounts and Independent Examination? Am I correct that SORP will not materially affect our way of working?
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