Who can be an Independent Examiner?
The Trustees of the Charity for whom the Independent Examination is to be carried out
have to be confident that the person conducting the IE:
- is independent
- has the requisite ability ) to carry out a competent
- and the practical experience ) examination of the accounts
The requirement for the Independent Examiner to have a qualification
- In England and Wales, anyone examining accounts over £250,000 has to have a professional qualification from a prescribed list (see CC31 or CC32), which includes Fellows of ACIE.
- In Scotland, for accounting periods beginning on or after 1 April 2006,
anyone examining accruals-based accounts (all non-company charities with
income over £100,000* and any with lower incomes who choose accruals
accounting, plus all charitable companies), have to have a professional
qualification from a prescribed list (see OSCR publications), which includes
the relevant Full Membership of ACIE. *This threshold rises to £250,000 for
accounting periods beginning on or after 1 April 2011. - In Northern Ireland, once the relevant legislation is implemented, it is anticipated that anyone examining accounts over £100,000 will have to have a professional qualification from a prescribed list, which includes Fellows of ACIE.
Please note that many of the relevant professional bodies will have their own requirements as to which of their members can carry out IE.