Who can be an Independent Examiner?

Below is a list of Professional Qualifications that allow people to carry out independent examinations.

- Institute of Chartered Accountants in England and Wales
- Institute of Chartered Accountants of Scotland
- Institute of Chartered Accountants in Ireland
- Association of Chartered Certified Accountants
- Association of Authorised Public Accountants
- Association of Accounting Technicians (This is our Governing body)
- Association of International Accountants
- Chartered Institute of Management Accountant
- Institute of Chartered Secretaries and Administrators
- Chartered Institute of Public Finance and Accountancy
- Fellow of the Association of Charity Independent Examiners
- Institute of Financial Accountants
- Certified Public Accountants Association

Charity trustees are entitled to pay reasonable costs to an independent examiner for their services and if they are unable to obtain the services of a competent examiner on a voluntary basis, should be prepared to pay these costs and regard it as a proper expense of administering the charity.

Independent Examiner thresholds

Broadly speaking, an independent examination is needed if gross income is between £25,000 and £1 million and an audit is not required. An audit is required above the 1 million unless an exemption has been granted to the charity for some reason by the charity commission.  An audit will also be needed if total assets (before liabilities) exceed £3.26 million, and the charity’s gross income is more than £250,000.

Or in other words providing your assets do not exceed 3.26 million you can have an independent examination as long as your income does not exceed the I million threshold.

Another way of putting it is that if your charity has assets over 3.26 million but your turn over is less than £250,000 you could still have an independent examination.

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