Directors' reports

[Derek Howie]

Quick forum search as I know David has covered this already. <!-- l --><a class="postlink-local" href="http://www.chessscotland.com/forum/viewtopic.php?f=4&t=995">viewtopic.php?f=4&t=995</a><!-- l --> contains all the information you need

What about this year's accounts and the missing directors reports?

[John Watkins]

A wee point of order here. What form of external review of accounts is required by the constitution - an external audit or an independent examination? The two are not the same and it appears to me that the latter has been carried out. It would be wrong to say that they have been audited given the accountants report on page 3 and accountants fees on page 7.

[Andy Howie]

Quick forum search as I know David has covered this already. <!-- l --><a class="postlink-local" href="http://www.chessscotland.com/forum/viewtopic.php?f=4&t=995">viewtopic.php?f=4&t=995</a><!-- l --> contains all the information you need

What about this year's accounts and the missing directors reports?

Morning Derek, that was explained at the AGM yesterday. With the summer of Chess we have just had, David was heavily involved with the organisation of many of the events. The Audited Accounts are being done as a matter of urgency, they will be sent out to all Members, Directors and Council members (I will post them on the CS site). Next Council meeting was set as Mid November (Edinburgh, probably Edinburgh Chess Club if they are willing to host). The accounts will be available then possibly as an EGM item so we don't have to wait until next year to approve them!

David D gave his report at the AGM and I will add it into the pack when he sends it to me Electronically, Steve Mannion gave a PVG report as well. No reports were received for Schools Director or Marketing Director

[Andy Howie]

A wee point of order here. What form of external review of accounts is required by the constitution - an external audit or an independent examination? The two are not the same and it appears to me that the latter has been carried out. It would be wrong to say that they have been audited given the accountants report on page 3 and accountants fees on page 7.

As far as I am aware it is an audit. I would defer to my learned colleagues David Deary, Derek Howie or David Congalton for this one as they are in a far better position than me to answer this.

[Derek Howie]

The constitution says in respect of the AGM:

13.3.1 To receive the Annual Report of Chess Scotland, incorporating a Statement of Account for the previous financial year to April 30 certified by the Auditor.

It appears clear that an audit, rather than an examination is required.

However to get a firm of auditors to give a full audit opinion in the current litigious environment would be cost prohibitive and therefore if we are using a firm of accountants then a watered down opinion should be satisfactory, given the size of organisation that CS is. It should, depending on the wording, meet the requirements of an "audit" for most members, audit not being defined.

It will be interesting to see what opinion is given on the 13/14 accounts as presumably it will have to change as I assume that David would be compiling the accounts this year.

I believe that the auditors can say that they compiled them in 12/13 as they wanted a change in format. However the change is much less useful to the people who use the accounts, ie the members.

[Alex Gillies]

An audit is unusual these days due to costs and time it would take

An independent examination is what seems to required and also seems to have been done - surprised the report mentions audit - looks like am oversight to me. Suggest it should be changed.

David c is an accountant but not independent which is why they need to be signed off externally .

[Andy Howie]

Thanks Derek

David did say we had a surplus this year. I believe it was in the region of £3,000

[John Watkins]

The points you make are spot on Alex.

Perhaps the working party looking at updating the constitution should recommend changing the annual accounts requirement to ".... as certified by an independent examiner." to bring it into line with reports on the accounts of similar sized organisations in the third sector and the report currently being produced by the external accountant for the CS accounts.

[Derek Howie]

Quick forum search as I know David has covered this already. <!-- l --><a class="postlink-local" href="http://www.chessscotland.com/forum/viewtopic.php?f=4&t=995">viewtopic.php?f=4&t=995</a><!-- l --> contains all the information you need

What about this year's accounts and the missing directors reports?

Morning Derek, that was explained at the AGM yesterday. With the summer of Chess we have just had, David was heavily involved with the organisation of many of the events. The Audited Accounts are being done as a matter of urgency, they will be sent out to all Members, Directors and Council members (I will post them on the CS site). Next Council meeting was set as Mid November (Edinburgh, probably Edinburgh Chess Club if they are willing to host). The accounts will be available then possibly as an EGM item so we don't have to wait until next year to approve them!

Is there any sign of the accounts being released or have I missed them?

There is nothing on the agenda for The Council meeting for anything financial and there was an assurance that the accounts would be available by then.

[Derek Howie]

Should we be worried by the fact that the accounts have not been published prior to the council meeting as promised (3 months after the Constitution says that they should be produced) and no directors have responded to my previous post?