Subcontract work
We offer an outsourcing facility to other firms
of accountants for charity accounts production.
We can act on a subcontract basis for another firm
of accountants who may not have the expertise or the
desire to become involved in charity accounting.
Very often, non specialist firms may have a valued
business client who is a trustee of a charity, and
as a gesture of goodwill they will accept the work
of preparing accounts for the charity. However, they
know that if they are to do the work properly they
must invest time and resources in acquiring the knowledge
and skills, and the gesture of goodwill can quickly
become an onerous one.
The Charity Commission have observed that many accounts
prepared, even by qualified accountants, do not appear
to comply with the SORP, and they have indicated they
may soon consider making reports to the professional
bodies.
Non specialist firms who do charity accounting as
a none profit making sideline might find themselves
exposed to professional embarrassment, and even disciplinary
processes, arising from work that was never regarded
as being mainstream.
There might be a cost in outsourcing this work to
a firm like Peter Brown& Co, but it will be far
less than the cost of getting it wrong.
There are two ways in which we can undertake such
work.
The first is pure subcontract – The accountancy
firm send the records to us, we prepare accounts,
and a list of queries which we send back to the accountancy
firm. We carry on doing this until all queries have
been resolved, and accounts can be finalised, in the
accountancy stage.
We make no contact under any circumstances with the
charity, who remains for all purposes a client of
the accounting firm. We will undertake never to carry
out professional work for that charity unless permission
is given by the accountancy firm.
The accountancy firm remains in office as independent
examiner, reporting accountant or auditor and undertakes
the substantive work to enable them to sign the report.
They might decide that a large part of the substantive
work of audit is delegated to us, but they review
the job and decide to what degree they can rely upon
our work.
The second is where we take on the appointment –
This may have to be the case where gross income exceeds
the levels where the work must be done by a registered
auditor, and where the accountancy firm is not a registered
auditor. The accountancy firm may prefer this approach
in any event.
In such cases, we would take our instructions directly
from the client, but undertake not to provide any
other professional services to the charity or the
trustees without written permission from the accountancy
firm. See the ‘Audits
and Reports’ section. The engagement processes
and professional production steps taken in such cases
would be quite independent of the accountancy firm.
From our office based in York, which is a maximum
of three hours by road, air or rail from 80% of the
population of the United Kingdom, we can offer a prompt
and efficient accounts production and audit service
. Books and records can be sent to us by courier.
As members of the AVN network of accountants, we
are a part of the National Campaign (http://www.thenationalcampaign.co.uk),
whereby members have committed themselves to giving
away £20 million pounds worth of professional
services to UK business and the voluntary sector,
in the form of discounted professional services. Many
services that we provide will reflect a discount representing
our contribution to the National Campaign.
As with all our services, our fees are highly competitive.
Our offices are set in a rural location, and therefore
we have low premises overheads. This means that we
are able to offer the highest quality services, very
often at the lowest price.
For further information, please email info@sorpaid.com
or complete our Enquiry
Form
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