MAIDSTONE BOROUGH COUNCIL
COBTREE MANOR ESTATE CHARITY COMMITTEE
26TH APRIL 2010
REPORT OF THE HEAD OF FINANCE
Report prepared by: Paul Holland (Senior Accountant)
1. APPOINTMENT OF EXTERNAL AUDITORS
1.1 Issue for Decision
1.1.1 To consider the appointment of external auditors for the Trust for the financial years 2009/10 and 2010/11.
1.2 Recommendation of the Chief Finance Officer
1.2.1 That the Committee reappoints King & Taylor as external auditors for the financial years 2009/10 and 2010/11.
1.3 Reasons for Recommendation
1.3.1 The Committee had previously agreed the appointment of King & Taylor for the financial years 2007/08 and 2008/09, so it is now necessary to reappoint auditors.
1.3.2 King & Taylor have been the auditors for a number of years, and there is a good working relationship between their staff and Council staff. In addition King & Taylor are experienced auditors of charity accounts and have a good working knowledge of Cobtree Trust from their previous audit work.
1.4 Alternative Actions and Why Not Recommended
1.4.1 The Committee could seek to appoint a different auditor, however for the reasons outlined at 1.3.2 it is recommended that King & Taylor continue in their current role. In addition the Charity Commission guidance on Independent Examination of Charity Accounts does not appear to place any requirement upon Trustees to change auditors after any specified time period.
1.5 Impact on the Charity’s Objectives
1.5.1 An independent examination of the accounts provides assurance to Trustees and stakeholders of the financial standing of the Trust.
1.6 Risk Management
1.6.1 Assurance of the quality of the financial information is a key element of risk management.
1.7 Other Implications
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Financial |
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Staffing |
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Legal |
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Social Inclusion |
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Environmental/Sustainable Development |
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Community Safety |
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Human Rights Act |
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Procurement |
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Asset Management |
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1.8 Financial Implications
1.8.1 A fee is payable to the Auditors for their services. In 2008/09 this was £4,030.
NO REPORT WILL BE ACCEPTED WITHOUT THIS BOX BEING COMPLETED
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Is this a Key Decision? Yes No
If yes, when did it appear in the Forward Plan? _______________________
X
Is
this an Urgent Key Decision? Yes No
Reason for Urgency
Not applicable
Background Documents
Charity Commission Guidance Note 31 – Independent Examination of Charity Accounts: Trustees’ Guide
http://www.charity-commission.gov.uk/publications/cc31.aspx#d