Club Audit

[rapper]

As a member of a municiple golf glub about 200 plus members i was amaazed to see that members of the committee do the yearly audit of the accounts for the AGM is this legal ?can anyone point me to a site or someone who can tell me if this is allowed .i know a company cannot audit its own accounts....Help

 

[MegaSteve]

I may be wrong but I ran a club of 100+ membership for a number of years... Club treasurer would maintain the accounts for the year and present a breakdown of the annual figures [income/expenditure] at the AGM... If there were any specific questions arising from the figures he would answer them... Then once everyone was happy with them a vote would be taken... Assuming that went OK that was the 'audit'...

 

[Deleted member 1147]

Are we talking an official Audit for a UK limited company?
Or, that the members prepare there own accounts?

To do an official audit you must be a registered auditor.
Anyone can prepare a set of accounts depending on clubs constitutions.

My own club keep there own books/figures and then get an accountant to prepare a set of accounts from these. That is the norm I would have thought.

 

[daymond]

You are a group of individuals not a charity or company so you do not have to have your accounts audited by an outside qualified person/organization. Your unpaid treasurer should provide full details of all income and expenditure he can then wait for awkward questions which he probably cannot answer!