Who are the CAVA volunteers?
The CAVA volunteers are all members of Chartered Accountants Ireland who volunteer their time to provide advice to business people in financial difficulties.
What kind of advice will be asked for?
A CAVA volunteer can be asked to assist on a number of business topics (please note that any personal financial issues on behalf of the client can be assisted through their local Money Advice and Budget Service (MABS) office). This list can include:
- Determining the extent of the total debts of the business
- Determining the value of the total assets of the business
- Establishing the income and cashflow position of the business
- Advice on how to prepare a statement of affairs
- Advice on how to prepare your annual accounts
- Advice regarding your income tax position
- Advice regarding your VAT position
- Advice regarding your gift/inheritance tax position
- Advice regarding your capital gains tax position
- Advice regarding your stamp duty position
- Advice regarding your company’s tax position
- Advice regarding the tax implications of a lump sum given on redundancy
- Tax advice in respect of any other issues, as they arise
- General advice in relation to the above and ancillary matters
- Advice on starting a new business.
What services cannot be provided?
The CAVA volunteer cannot perform an audit or act as an insolvency practitioner or an investment adviser.
The CAVA volunteer may liaise with third parties (such as Revenue or banks) to assist the client but will not be responsible for the provision of information or its accuracy.
Note: CAVA is a free service provided to those who cannot afford to engage with an accountant given their current circumstances. CAVA is an advisory service only and cannot be used as a recruitment service for new clients.
If you are interested in learning more about volunteering, please contact the CAVA Executive, Fiona Collins, at fiona.collins@charteredaccountants.ie.