The Board would like the AGM to approve the disapplication for a full professional audit for the Freegle Ltd accounts 2021/22 and instead accept an independent examination by a qualified auditor. This would be in line with the procedure used previously.In the laws governing Registered Societies a full professional audit is only required if there is a turnover of over £250,000 or assets in excess of £2,800,000. As we don't get anywhere close to these figures the expense and time for a full audit seems excessive when our accounts are confirmed by a qualified accountant through independent examination.More information can be found at http://www.legislation.gov.uk/ukpga/2014/14/section/84 and https://www.fca.org.uk/publication/finalised-guidance/fg15-12.pdf Section 7
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