- Guidance notes that provide you with essential background knowledge on the key aspects of clubs. These cover the relevant legal and Financial Conduct Authority (FCA) registration framework within which clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974 operate and how to approach an audit of a club.
- Example engagement letters for audit, reporting accountant and totally exempt clubs that are registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974. There is also an example letter of representation.
- Example auditor's, reporting accountant's and totally exempt reports for clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974.
- Example pro-forma accounts for a club registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974.
- Accounts disclosure checklists for the legal and FCA specific disclosures relevant to clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974. FRS 102 and FRS 102 Section 1A disclosure checklists are also included.
- Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an audit or reporting accountant assignment over a number of years.
- Clubs specific current file documentation comprising of two separate packs of documentation for audit and audit exempt assignments. The audit documentation provides you with the planning, completion and detailed work programmes needed to undertake an audit. Lead schedules and a current file index are also included. The audit exemption documentation provides you with the planning, completion and work programmes needed to provide a reporting accountant's or simple accountant's report.
The latest version of Clubs Manual is version 12.0, dated 09/18.
This update principally dealt with:
- The revised UK Auditing Standards issued by the FRC in respect of periods commencing on or after 15 December 2017;
- The increase in the thresholds used to determine eligibility for audit opt out for those clubs registered under The Co-operative and Community Benefit Societies Act 2014 which came into force on 6 April 2018; and
- The incorporation of GDPR into engagement letters, re-positioning of the Bannerman paragraph in audit reports and updated money laundering forms.
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