there was insufficient evidence to support figures in their accounts
their accounts did not comply with the SORP.
It was also found that the underlying failings identified fall into one or more of three categories:
the trustees had not kept adequate records of the charity’s transactions and/or assets and liabilities
the trustees had appointed a new auditor and the auditor had not attended the year end stock count and/or been provided with sufficient evidence to support the previous year’s closing balances
the trustees had not obtained the professional valuations of properties, investments and/or pension liabilities required by the SORP.
The Commission also stated that it provided guidance to specific charities where it ‘judged that this would help the trustees to address their auditor’s concerns’. It also stated that it ‘engaged with a further four charities where the auditor’s concerns highlighted serious failings of which we were not previously aware and there was no indication that the trustees were taking action to address them’.