WST Accounts and report
 

Friday saw the WST accounts published ready for Saturdays mid day Zoom meeting. they are available to view on the WST site.

The accounts are up to year ended 31st Dec 2019. There is a commentary about the current year which didn't have any affect on the accounts submitted. Some interesting references.

Can any auditors explain page 9 comments' from Mc Lintocks?

Re: WST Accounts and report
 

Expenditure on Xmas draw this year is up to £5,338 whilst the previous year was just £2,000.
General fundraising expenditure was £2,346 in 2018 and has risen to ££7,500.
Player of the season was in 2018 -£740 and now £4,845.
Leading to total expenditure of £17,628 as opposed to £5,086 the previous year.

Income from Xmas draw has virtually halved

Re: WST Accounts and report
 

On the summary sheet - For clarity should the donations be separated from fundraising income?

Re: WST Accounts and report
 

[QUOTE=Inside Left;2376450]Friday saw the WST accounts published ready for Saturdays mid day Zoom meeting. they are available to view on the WST site.

The accounts are up to year ended 31st Dec 2019. There is a commentary about the current year which didn't have any affect on the accounts submitted. Some interesting references.

Can any auditors explain page 9 comments' from Mc Lintocks?[/QUOTE]

The comment on page 9 means that they are obliged to report on any occurrences as specified. As they state that they have nothing to report all is above board in respect of those matters.

Re: WST Accounts and report
 

That is a standard "clean" report. Very wordy I know but that is the standard format for audit reports under the Institute of Chartered Accountants in England and Wales.

I have never seen such a "wordy" review of the year but the auditors only give their opinion on the financial statements from page 10 which again is standard. I just think such a long review looks "defensive" in nature and in my opinion should stick to a review of the year and keep to the facts not a ramble. North Korean propaganda type statement or something from the Eastern Block era. Most unprofessional in my opinion.
Same every year.

I wouldn't keep so much cash in the PAYPAL account either. Paypal accounts can be suspended or frozen for no particular reason. I would advise that say only £1,000 max is held in there unless there is a good reason that I'm unaware of.

I also think the auditors need to be rotated from time to time. Could be seen to be too "cosy" and things can be overlooked or go stale if you have the same auditor year after year. Good to have some fresh input and eyes.

I am a Chartered Accountant by the way with my own small practice but not an auditor as this has become more specialised and onerous over the years !!

Re: WST Accounts and report
 

[QUOTE=subbuteorob;2376455]That is a standard "clean" report. Very wordy I know but that is the standard format for audit reports under the Institute of Chartered Accountants in England and Wales.

I have never seen such a "wordy" review of the year but the auditors only give their opinion on the financial statements from page 10 which again is standard. I just think such a long review looks "defensive" in nature and in my opinion should stick to a review of the year and keep to the facts not a ramble. North Korean propaganda type statement or something from the Eastern Block era. Most unprofessional in my opinion.
Same every year.

I wouldn't keep so much cash in the PAYPAL account either. Paypal accounts can be suspended or frozen for no particular reason. I would advise that say only £1,000 max is held in there unless there is a good reason that I'm unaware of.

I also think the auditors need to be rotated from time to time. Could be seen to be too "cosy" and things can be overlooked or go stale if you have the same auditor year after year. Good to have some fresh input and eyes.

I am a Chartered Accountant by the way with my own small practice but not an auditor as this has become more specialised and onerous over the years !![/QUOTE]

Many thanks for clarification

Re: WST Accounts and report
 

[QUOTE=subbuteorob;2376455]That is a standard "clean" report. Very wordy I know but that is the standard format for audit reports under the Institute of Chartered Accountants in England and Wales.

I have never seen such a "wordy" review of the year but the auditors only give their opinion on the financial statements from page 10 which again is standard. I just think such a long review looks "defensive" in nature and in my opinion should stick to a review of the year and keep to the facts not a ramble. North Korean propaganda type statement or something from the Eastern Block era. Most unprofessional in my opinion.
Same every year.

I wouldn't keep so much cash in the PAYPAL account either. Paypal accounts can be suspended or frozen for no particular reason. I would advise that say only £1,000 max is held in there unless there is a good reason that I'm unaware of.

[B]I also think the auditors need to be rotated from time to time. Could be seen to be too "cosy" and things can be overlooked or go stale if you have the same auditor year after year. Good to have some fresh input and eyes.[/B]

I am a Chartered Accountant by the way with my own small practice but not an auditor as this has become more specialised and onerous over the years !![/QUOTE]

Good 'ol copy and paste.