Financial Services & Support

RCVDA can offer support to new and exisiting groups with financial management and accounting.

If you are a new group and would like advice about basic book keeping or financial management - we can help.  Contact rachel@rcvda.org.uk for help and advice.

Independant Examinations

As part of RCVDA support services we are now able to offer Independent Examinations to groups within Redcar & Cleveland.

Q. What is an Independent Examination and why do you need one?

The Association of Charity Independent Examiners (ACIE) defines an Independent Examination (IE) as “an alternative to a financial full audit for smaller charities – a legally acceptable form of external scrutiny of their end of year accounts”.

The Charity Commission states that:

It is a less onerous form of scrutiny than an audit and provides less assurance both in terms of the depth of work, which is to be carried out, and the qualification necessary to undertake such work.

(Source: www.charity-commission.gov.uk/publications/cc63.asp)

Q. Who is it available to?

At present RCVDA will only be carrying out Independent Examinations for charities with income less than £100,000

If a charities gross income and expenditure is £250,000 per year or less for the past 3 years they may elect to have an Independent Examination. However, if your gross income and expenditure is £10,000 or less then there is no requirement to be independently examined.

Q. What is involved?

An examination involves:

A review of the accounting records kept

Preparing a set of accounts (Receipts and Payments Accounts and Statement of Assets and Liabilities)

On completion of the Independent Examination, an examiners report will be produced.

If your books and records require additional remedial work RCVDA can offer support to enable clients to bring their financial records up to the required level.

Q. How much will it cost?

The cost of an Independent Examination will be based on annual turnover and will range from £100 to £250 for the first year.

For any further information contact Rachel Solomon on:01642 440571 or email rachel@rcvda.org.uk