Release date: 27 June
2023
With significant roles for the Charities Regulator in
Ireland and the Charity Commission for Northern Ireland, charity audits are
becoming increasingly important assignments for audit practices and come with
their own unique risks. A must have for auditors of charities, the
Charities PQA 2023 (ROI & NI) toolkit is a dynamic set of
audit procedures, specifically designed to focus on the real issues directly
affecting charity audits in both ROI and NI.
Using the same format as our landmark Procedures for Quality Audit (PQA)
toolkit, it has been specifically customised to make it suitable for the audit
of incorporated charities.
Based around Microsoft Excel, the Charities PQA can be readily tailored to
the circumstances of an individual charity client, and your firm’s specific
audit approach. The Excel format allows you to include schedules and tests
as separate worksheets. If you use Microsoft Office 365, your PQA files
can be readily shared online amongst your audit team.
The toolkit consists of the following:
- Audit work programmes covering planning, fieldwork and completion, along
with lead schedules, specifically tailored for charity audits, contained
within an Excel workbook;
- Audit Planning Memorandum, tailored for charity audits;
- Memorandum of Significant Matters;
- Internal Control and Accounting systemin checklist;
- Suggested additional paragraphs for the engagement letter for an ROI
charity audit;
- Suggested additional paragraphs for the engagement letter for an NI
charity.
The toolkit addresses the requirements of the Charities SORP (FRS 102) and
changes to accounting standards, auditing standards and company law. It
also addresses the guidance contained in Practice Note 11 (Revised) ‘The
audit of charities in the United Kingdom’ (although there is no ROI
equivalent of Practice Note 11, auditors of ROI charities may nevertheless find
it to be useful guidance).
The 2023 version of the toolkit has been updated to reflect the requirements
of ISQM(UK)/(I) 1, ISQM(UK)/(I) 2, ISA(UK)/(I) 220, ISA(UK)/(I) 240 and
ISA(UK)/(I) 315.
Where requirements for ROI and NI charities differ, separate tests and, in
some cases, programmes are provided.
The work programme includes separate financial statements disclosure
aide memoirs for ROI and NI, specifically addressing the requirements
of the Charities SORP as well as Company Law. It also includes separate
checklists for reporting to the Charities Regulator in ROI and
the Charity Commission for Northern Ireland.
Please note that this toolkit is designed for the audit of incorporated
charities, established as companies limited by guarantee.
Downloading your toolkit
Once you have placed your order
online, first print your invoice if you require one. Following this, go into
your My Account area on the website and open My courses
& downloads. Your toolkit will be available to download
there. You have up to 90 days from the date of purchase to download your
toolkit.
For more information, contact us at -Practice
Consulting