In August CC updated their guidance to trustees on independent examinations. The guidance is intended to help trustees understand what an independent examination is, whether they are required to have one, who to appoint to undertake the examination and how to prepare for it.
Trustees are encouraged to prepare for their examination by understanding the process the examiner will follow, agree arrangements and timetables for preparing the accounts and their examination, make the relevant documents available, make and agree any recommended changes and finally file the accounts and trustees’ report.
The guidance aims to remove some of the confusion that exists by explaining how an examination differs from an audit and should be considered essential reading for all trustees of charities that are subject to independent examination.
Separately OSCR has also updated its independent examination guidance for trustees which covers similar issues as the CC guidance but reflects changes that exist due to the different regulatory framework that exists in Scotland.
For further information on guidance for independent examinations, click here