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Questions and Answers from the "New Financial Reporting for Accountants of Small Charities" webinar
Following the completion of the recent joint Charities Services & XRB webinar on the New Financial Reporting Requirements for Accountants of Small Charities we are pleased to make available the responses to the questions we received.
Unless otherwise stated all responses are applicable to Tier 3 and Tier 4 not-for-profit public benefit entities only. The primary source of accounting pronouncements referred to in our responses are:
Please note we have assigned a category to each question to make it easier for you to search. You can do this by using the drop down box in column C. If you have further questions or need assistance, please do not hesitate to e-mail firstname.lastname@example.org, or call us on 0508 CHARITIES.
Please note the responses reflect personal observations and views based only on the information provided. The responses include factors to consider, rather than full answers, and do not replace the obligation of the preparer to exercise their own professional judgement when applying the accounting pronouncements applicable to the reporting entity. The responses to questions raised DO NOT CONSTITUTE PROFESSIONAL ADVICE, and nor should they be seen as a substitute for you seeking professional advice.
Both the responsibilities and functions of the External Reporting Board (XRB) and Charities Services do not extend to providing specific professional accounting or auditing and assurance advice. If you require further professional accounting or auditing and assurance advice you should seek further assistance from a professional advisor.