10 Mar 2014
Don Bawtree heads up accountancy firm BDO not for profit unit unit and has specific responsibility for larger and national clients. He is a charity sector expert with 20 years experience in the sector with a particular focus on financial governance. Apart from lecturing, client and committee work, Don is chair of the Auditing Practices Board committee and author of the guide to SORP compliance, published by Charity Finance. He is also author with Kate Kirkland of Tottel's Charity Administration, and is on the advisory board of Governance magazine
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A lawyer, an accountant and the Charity Commission provide initial advice to a board of trustees on the issue of compromise agreements for senior staff.
At the end of an audit, the trustees are asked to sign a letter addressed to the audit firm, confirming, amongst other things, that they have told the auditors everything they need to know. Often trustees feel unsure about this letter. Why is it needed? Is the auditor just passing the buck? Is it safe to sign?
Most board members, at some time or other, have sat in meetings and wondered what on earth is going on when the finances are being discussed. Don Bawtree provides an overview of the key financial terms.
The revised Charity Commission guidance for serious incident reporting still needs work, says Don Bawtree.
Trustees are required make a realistic assessment of their charity’s solvency, whenever they issue accounts under the Sorp (Statement of recommended practice).
In challenging times, charities will be exploring every possible means of raising money. Trustees need to be careful that these fundraising efforts do not inadvertently expose the charity to an unnecessary tax liability. How do trustees make sure they are getting it right?
Attending our one day courses is a highly effective way of ensuring new and existing trustees fully understand their role, responsibilities and liabilities.