Rescue Account Auditing

[wednesday]

Can anyone recommend an auditor/accountant that is used by other rescue groups to audit their books for a minimal fee.

Private responses are fine.

Thanks,

Jo.

[Winterpaws]

Jo I will ask Elwyn if his brother is taking on any charity work at the moment and let you know :)

[sas]

We're using a lady who does Breed Club auditing BUT I'm pretty sure after she does my Audit for the first time she'll tell me to bugger off as there are significally more transactions than a breed club.

You may like to contact a local account, many are happy to do it free or cheaply. In most cases they don't have the be a qualified auditor, just a qualified Accountant - depending on the requirements of how you operate.

[wednesday]

Thanks Sas.

Ours is pretty easy and basic and not many transactions. Well at least not at the moment *knocks on wood*

[stonecutter]

You can also try approaching a big accounting firm like PwC etc - they encourage employees to spend up to 10% of their time working for good causes :)

[Danois]

You can also try approaching a big accounting firm like PwC etc - they encourage employees to spend up to 10% of their time working for good causes :)

Yep - but it's very hard to get them to do professional services for professional indemnity insurance reasons.

[honeybun]

As the treasurer of 2 rescue groups the role of auditor is so hard to fill.

I have 2 different auditors and am very grateful to those we have, as I know how hard it was to get them.

It does depend on who prepares the accounts, as to how qualified the auditor has to be.

It can be just someone in the finance sector or a bank manager going right up to a chartered accountant.

Depending on which state you are in , and under whose regulations the audit is required.

Volunteer roles of all varieties are hard to fill, so many people do not seem to want to get involved,or at least not for a reasonable period, or it is only a passing fancy, before they move onto the next good cause.

[wednesday]

Our treasurer is a former accountant, and our Transactions are not huge in amount or quantity so our records are easy to audit. An auditor/accountant is a requirement for a CFN but obviously our treasurer can't audit her own accounts :-)

It's also a brand new account so it's starting from scratch.

[honeybun]

I would suggest you phone Office of Liquor Gaming and Racing and ascertain from them the level of qualification for your auditor. Perhaps as your treasurer is a RETIRED accountant they may accept the lower level of qualification, and it need only be someone with finance sector experience/bank manager. They do say in their material that they are not seeking to make not for profit groups spend large amounts of money on auditing , and in conversation express this too.

It will also be a factor as to how much money is expected to be raised as to what level of qualification they require.

As you have just started up you most likely will have been granted authority to fundraise for 2 years and at the end of that time will have to provide a copy of the last available audited accounts for you to be granted an extension for a, usually, further 5 years. So it is important, to get it all in place as soon as you can, which no doubt you already realise. :)

I tried a web site where you can place posts for professional services required, but be careful as the response I got was from someone who wanted a large amount of money to do the work.I cant remember what that web site was.

What about previous work colleagues of the person who prepares your accounts....any favours they can call in???

[wednesday]

Treasurer can't audit own accounts. Have all the paperwork and know the requirements. I've had someone contact me so fingers crossed he's happy to do it, if not I've got some back up options.

We've been running the rescue for about 6 years but never on donations (we sold calendars to top up our funds every year) but as people keep asking how they can donate I figured we should make it official so we can accept donations.

[Danois]

Honeybun - an auditor should be independent therefore a former colleague or buddy of the Treasurer should be avoided.

[honeybun]

I realise the Treasurer cannot audit their own accounts I didnt mean to suggest they could!!!! :)

I know auditors have to be independant and didnt mean a colleague that worked with the same previous firm as the retired accountant/treasurer but a colleague in the same industry......they do tend to know each other and they may have known of someone who was willing to do pro bono work.