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THE CHARTERED CÈRTIFIED ACCOUNTANTS.
BENEVOLENT FUND
(LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMEKrs
YEAR ENDED 31 MARCH 2021
(COMPANY NUMBER 08880293)
(REGISTERED CHARITY NUMBER 1156341)
(OSCR SC045337)

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CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLENT FUND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
COKTENYS
Report of Ihe Trustees
Slatement of f￿anCial activit￿S
10
Balancè shaèt
11
Statement of (ash flthvs
12
Not&s to thé finarKial statements
13-21
Indepandent audito¢s rep￿t
22-25

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REPORT OF THE TRUSTEES
OF THE CHARTERED CERllFIED ACCOUNTANTS, BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
The Twste8s presènt thek annual report 8nd finan¢i81 statements of the charity {Ih8 Fund) for the year
er￿ad 31 Marth 2021. The financlal statements have been prepared in accrwdance wilh thg accounling
rx>li¢ies set out in note 2 to the financial stslemènts and comply wtth the Fund's govemlro document, the
Ch8rities Act 2011, the COmpan￿S Aot 2006, the Charibes and Twstee Investrnent IScoU8ndl Act 2005.
regulation 8 of the Charflies Accounts (SLX)Ilandl ReguL¥t￿nS 2006188 amended} arwl the Accounting arwj
Reporting by Char￿e$. Slatement of Recommended Pracuce app5icable to charities préparing thelr
accounts in accordan(* with the FinancMI Repè¥Ung Standard applicab￿ in th& UK and Republ￿ of Iraland '
published In Crtobar 2019 (affective 1 January 2019} (Charilies SORP IFRS10211.
Objodlv8s •nd a¢bvitla8
The prin¢ipal objective of the Fund Is to raisè and maintain a fund for the P￿￿OSe of ayslsllry persons in
need who are, or hgve been, memt¢TS of the Association of Chartered Certified Account8nls IACCA) and
their famllias arnl dependants. The Trustees are a￿0 empower8d to assist Othgr charilablè instituli(x)s as
thoy see fiL The prinupal pollcy adopted by thp Trustees to furth8r tho ot4adlve3 of the Fund has bèen,
and continues to be. lo make timely grants andlor loans to mem￿ts arKL Iheir fath11￿ vtho f￿ hardshlp
or naod 81 any time. Thase loans are normally secured. and iTtsrest is linked to bank base rate.
The Fund carrièa out advilies previously undertaken by Ihe unincwratèd tntst (The Chartered Cerllfied
Accountar￿, B8ngvolent Fund 2225951, tho majority of whose assets and liabilities hav8 bèen tr8nsferred
to the Fund folbwing a resolutK)n to transfer awts and liabilities affective from 31 Decemb8r2014. During
th8 yearthe Fund received £238 frcrfn the unincorpcrte¢J tnjst.
The Fund empbys no staff. Its slaff end adminIstra￿on. nicludlng rbutin8 legal edvlcè. ts l￿V￿le￿ byACCA.
The Trustees 81s0 dgvole timÈ to the Funrfs affairs at mÈ8tlngs. travel lo and from mgelings and have
'communuttons between meetings f￿v￿th Ihey teceive no remuneration. The Fund is also supported by
ACCA members andACCA staff who may, as volunteers. wstl appliGants and benef￿larI&S from time to lime
when requestod by the FurKI. Thé Fund is Th)t therwise dO￿nd￿nI on the s9￿CeS of"vtslunteers or
donatK)ns in kind.
The Fund's unrestricted funds Include two dèslgnaled funds.. A Loan Fund and 8 Dlsaster Fund. The fomier
is equal lo the total amount of k>ans to benefiaaries and r8cognis6s Ihe fact that thes8 amounts are not
available for the Fund's day-t(Hlay operÈUons. The lattgr is used lo provide emergency asslstanL* to
memi*ts and th￿rfaMIl￿whO have bgon affected byo disaster, mostrecèntlyln the Caribbean and Napal.
and wll be added to annually at a rale &g￿ed bytheTNstees IcuTrenlly 5% of th8 Furxl's inLyxnÉ 8xdudiThJ
supwl ¢08t donations) up to o cap of £250.0￿.
Covid-19 Impact and golng cohcem
The Covid-19 pandemic has had asignifi(*ntimpad on theoperatK)ns of all entitlesgloballyand in Part￿￿lar
on the activiiies of tharilies. The Trnstees have &8seswJ th8t Impactand con￿der&I tha following potential
Increase of applications from ACCA rnemt￿ aThJ t￿irfamIlies
FalV4n¢rease In donadons from ACCA members
Lovier levels of investmenl income du8 to interèsl r81e rethdlons and falllng stod( markets
The Trustees ravthv a rolling I&￿r finanthal plan annually and have revisiled this to consider impaGIs
from the 8bove. The Han h&8 always bean very prudent wlh regards to grants relating to any pand8mic
such 8$ AIDS and r￿1 Covi(k19. Many members have asksd ACCA 8bwt the payment of mombership
subscriptions 8llhough Ihis is not relavant lo th8 Fund a5 the Trustees have a pollty not to pay for these.
The review corKluded that th8 Fund will still have excess8s of surplusgs over eX￿ndItUre until 2024 arnl
ther8f(Ke the Trnstees are satisfied Ihatthe financ￿ slatements te prepared on a going concem basis.

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REPORT OF THE tRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Flnanclal revlow
The Fund L8 currentty able to Ilhance its acilwlies frcrfn th)natK)ns. leg8Ci88 and the income from Is
waslmenl pro￿de funds b) meet 8nllcipated n88ds in the short tèmi.
Thè financk?I stslements for th8 yaar and related rnles ar8 shown on w3gs 10 to 21. Ststement of
Flnancial A¢tivilies on page 10 shows the incoming r8sources available10 th& Fund and th6 extent to whith
thos8 resourcos have beon applwl. This. together with tha Balance Sh88t on pag8 11, shows the total
assets of the Fund to be £4,966.0% {2020.. £4.137,0031, which will pnerate income to mael ils fuiure
coligations. The Fund held £311,151 {2020: £289.4631 In bank balances and short4emi deposits and in
the opinion of the Trustees Fund eonflnues to bè in a positton to wrsue ils charftable acttvS1ies for the
f(￿&seeable fuiure. Goveman¢e costs for the current y88f indude legal costs ralating to the dis¢h4r9e of
the security on a loan and professional fees payabie to the Fin8rKial Conduct Aulhority {FCAI so that the
Fund has the pgmijssion to admlnisler sacured loans.
The TnJ$tees aro grateful to all who have contributed in any way to th8 work of thg Fund during the year
anded 31 March 2021. In particular. it expresses thanks to those made a financial ￿trIbutiOn and
those who 98ve ofthgir time. including those UK L7xpayers who have completed Gift Aid dedaration$ which
allow Ihè Fund to redaim b4￿C r8te tgx paid on these donations. Toial donations fr(¥n memb¢rs includ(rwJ
tax on Gift Aid donations amounted lo £SS,929 (year ended 31 March 2020.. £47.500). The Gllt method
of giving is tax effiiient and the Trustees enctsur8ge UK taxp8yers to con8hder C￿mpletIng Gift Aid
dedaralions if they have not already donè 80. Th& Tru51ees also erKour8ge donors lo gtR sharas dir8¢lly
to the Fund in order to gain tho tax benefrts availab￿ both lo Fund and the th)rllw. The Trustees are
very grotelul lor the legacies from the estatès of Maureen Renny1£5,0001. Pètèr TyTer1£2,(I))I, Muriel
Temkin (£1.000) and an additional final (I'slribulion of £33 from the estale of knatthew Shamon making a
total of £112.568 as £112.535 had been reccgnised in prèvious years, accwnts.
The Tntslees appreciate any hèlp rnembe￿ can glva in ensuring that the Fund can prowde support to all
thosèvtho havt reason to ask forit. From thegrat&ful ktt¢rs the Trustees rveive. theycan assure member3
that the assistance the Fund provid6$ is highly appreciated. P* h8lp the Trusteas lo ensure thfjt they
can continue to fuiftl the objectives of the Fund.
Invèslm•nt polley and performanca
The Twstees have considered the rn￿t apprcprfale p0￿cY for investing furHls and have d8legated the
mand￿rn￿t of I￿ investments lo Charles Stanley & Co. Ltd. Trust￿ consider that it is apPrO￿ate
io invest dirÈctly in particular investments as wèll as somè comnN)n Inveslm8nt funds desTgned for the
charity Seckn. The FurMI's overall investment aim is lo increase the value of its in￿stMent portrolio on
total retums basrs in tho longer term. The Fund invests the designated emèrgency fund ar)d a proportion of
Èis olher unrestricted r8serves in ¢ash and short-tem) deposits that can bè readily accessed so Ihat the Fund
con react qLtickty to particular emergencies and oth8r urgent ne9ds forsupw)rt.
The pgrfornan￿ of the investments are outlined as follows. The total retum on capital investments for the
yaar was 25.5% 12020.. -13.6%) aga￿st Ihe bènchmarks IMSCI PrivBt8 Inv Balanced) of 22.0%.
(FTSE 100) 21.9% and IFTSE All-share GBP) 26.7%12020:_10.3%.-22.1 % and-21.9%1. Thè tolal income
r8lum on inveslmènts lor the year was 32.5% {2020'. 3.5%). investmènts were slgnrflcanuy impacted
by the volatility in the sttxk mathets during March 2020 followng the othbreak of ￿ Covid-19 pa.ndemi
however the Trustees wère pleased to see the recovery in the markets durfj￿ the year and are hBppy wlth
the over811 rÈtsJm on lonTrtom) inveslments and deposits forthe ￿ar which were ahead ol the benchmark.
The Trustees consider the asset alkneAtion str81egy regularly 8nd fmalty review the investment strategy
every th￿e yaars. As part of good govemonce. the Trustees remew Ihe Invaslment managemgnt services
•very five years and Charlps Stanley were reapFy)inted in Septembèr 2020 follow7ng a tonder ex8rose. The
Trustees sUbseqUen￿Y rewÈwed the investment slfategy and considered the charlty's Slalemenl of
Invastment Principlgs as part of thi¥ revi￿. The Trustees agreed to change thè asset albcatlon Strategy so
as to alksw Charle5 Stanley mor8 flexibility when So￿ting investrnenis and lo allow them to invest wthin
the constraints of a mÈdium-high risk investment portfolio. The Trusteas meet with the invastmenl manager
once or tW￿e a yaar to discuss p8rformancè and global trends etc. The Trustees have also implemented a
bèspoke benchmark for p&rfomiance moThicwing purposes.

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REPORT OF THE TRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Invgstmènt pollcy and performan¢0 {¢onllnuedl
The short-tem deposits a￿ held for boiween 6 months and 1 year and are not usually habj in excèss olthe
Final￿1￿1 S￿r￿C8s Compertsation Scheme limtt. During the y8ar interesl rates on the depostts rnro&J
between 0.47% and 1.61%. At the yearryend th& FurKI had 6 d8posits12020: 6) ui pl￿8.
As ACCA has over 233.000 members in diffwènt S￿OrS in 180 different Countries thrnugho￿ the world.
the Tnjstees believe it Y￿Uld nol L* possib￿ lo impose social. environmental or othèr ethical limits on lis
investsnwtt poI￿Y Ih8t would bè In tha best interosts of all ACCA'S mgmborÈ.
Re$ervts policy
Tho Trnslees alm to mainlain unr&strided funds at a favel vthich equales lo a mlnimum of at least th
years, expendituro and vthich wim meet aniicipated d&m8nds for assistance.a5 and then they arise as well
as special demands in Ilmes of emtrgency such &8 the Ind(an Iloods, huffic8nes In thè Carfbboan and the
Bahamas and more recently Covld-19. ACCA has over.233.000 members In 180countrlos gnd the r6gerves
pOI￿Y rellects the uncertaintios that thls ￿ngs.
Th8 Tnstees Assess Ihe reseffts to te retained In the contoxt pflts lon*tem slrntegic pmje￿lCmS. Thesp
egtimale 8ntb¢ipatad growlh in membership numb8TS and lake 8CCafftt of demographic chan￿$ that
8nbdpate tncreases in the n￿be1 Of relirgd members, 8nd th8 I￿•1Y effgcts of pandem￿ such as AiDS
and more recently Covi(&19, on mÈmb8rs and their families. The Trustees have prepared 3 15-year
proie¢t¥)n. which k8 u￿￿81ed annually. vthich indKates that, whil& thè Fund is likdy to be at4e to inmsè its
reservos in the short to medium term. the growlh In total demand wiu m8èn that. from 2024, ￿ FuThYs
8xpendibJre will exceed its income 8r%l it will t* n**sswyto apply its reserve8 to m88tthese ￿yS. Thi5
sIM)rtfoI1 is expected to increase in subsequent yèars.
The Trustees accept that thay coukl not allow the pericd during whith expehdilLrn excethds inGOffte to
deplètè Ltnr8slrthd roseNes entirely. but they Ihat there is suffKient timo to review the aclual
siluation before any aclion needs to be tsken. Therefore. the polity is to continue building up reserves by
means of annual SUTpluses and caret¥Jl management of the invesknenl assets. The Trustees bèliwe that
tho shouldtake a long-lemi viewof ￿serV&s. It has been supporting ACCAmÈmtwsand theirfamilios
for more than a L*ntury and ho￿ to eA)ntinue to do so for many ￿&r$ to c(me. The Trustees monitor 8nd
reviewthe level of reserves reguW and tx)nsid8r the current level of £4.966,09612020: £4.137.0031 lo be
more than adequate to meet the c(ksts of operating the Fund for a Considerab￿ perlod of time in thè event
of an unforesÈen d8din& In d￿atIOrfj. This a150 tskes Into consideratirm the CLbrrent demographlc IreThJ of .
P8ople livlng longer.
The TruSt￿S ther6fora ¢onsid8r that the charit￿5 unr8strict8d reseNes are *u8tè to meet Current ￿ve1$
ofd8maThJ bul Ihat it is newssryto t8ke a I￿g4Pm7 view to increase these over tha next 10 years so that
they ran conlinua tD rdiève dIStr￿ 8vgn 8ftor demands on its res￿rceS have outstrirrf)ed tts incothè.
Tho TnBlees ￿ also designated soma of the unrestricted fvndy as a Dlsaster Fund for use in casè of a
nationsl or intern8tion81 disaster. whether the resLth of for(sg of nature. terrLYism ￿ war. vthkh affects 8
Signif￿￿1 numb8r of membets. Thls is $h(ywn separately in the financial Statemen￿ The Tr￿5￿9 hava
pui a cap on the Disaster FuThJ at £250,CK)o.
I ACCA membèrs are ￿lIa¢1￿d 8mu8lly about the av8iL7bility of Ihe Fund: ACCA offths W(￿
receive updates of the Fund's actlvluos and pdlciès and thére 1$ a Ilnk to the Fund's website frrm the maln
ACCA website. Aftèr ts Bahanlas hurricanes in early 2020 the Fund c¥Jtscted all ACCA MeM￿r¥ who
wern lo(%ted in areas most serfously impactsd by Ihe hU￿ne& to mak8 th9m aware of thè Berwolent
Fund and th8 proc￿ If thay required any assr6tanc8.
D&si•le all these aclive ¢h8nnel$ of Ix)mMunicat￿ft. Ihe Fund still fiThls il th8llenging to atlract a suffick￿l
n￿nber ol applicants demonslrating real hardship and, 88 a rA)nSeq￿nc0. Ihe financial svpport il is able to
rnm8lns lknit&J. The Trustees ￿n{iN? to consider how the woth of lh8 Fund bÈ more wdely
r8¢ognis8d by developing new publioty commLmi¢8tion stratègies. As part of thls, a newwebsile forlhe
Fund is b￿n9 dÈvebp*l and tho FLmd continues to IL91se and work with other berthent funds.

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REPORT OF THE TtIUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Risk management
The Trustees èxamirte and review quwtedy Ihe major strat8gtc. busirws and oparalional iisks the
Fund fa￿5 and confim8 that systems we &statAishe¢J so that Ihe risks may be effectiveEy moniknrÈd, and
their impacl mitigaled as far as possible,
The Tnjstees consider variability of thè invfystrknent rntums on the investment portfd#) to constllule the
charitys majorfinonaal rlsk and recent volatility in tha world stock markets ha5 demonstrated this risk. Thts
Is m￿981￿j by retaining exwt investment man#98rs 8nd I￿ng a dIverSrf￿ investment wrtfoliD. The
Twstees manage the investment portfolio on a total relums b&sis. Trustees consider a lolal retums
basLs w￿1 slabilise the resources ava￿abl& for gr8nt•fflaking and allow to take account of the longer-
temi ouuooks inveslmeni returns.
Publk benefrt
The Trustees have not￿ the Charity Commission public ￿neffl guidance. The Fund's principal charitabl8
purpose is to givè to those past and wésent members of ACCA and th8irfamlll8s arml dependanls, are
In need. byfyason ofage, ill-health, disability. financtal hardship or anotherdisadvantage. Thè Fund asslsts
its beneficiaries by awdrding gr8nts or loans of money. tha provision of specific items. the Pa￿nent of
seryices and r818vanl advi￿ and support ThÈ impact of the FurKI g)es far bey)nd Ihose pèoplè WÈ 8SSlSt
direcuy. By helping an individual 8t a ijifftutt time. we also halp his or hor family arKt close friends. Thè
TNstees are of the viewthat the FLmd meals the public benerrt requiremert by r81i8ving members arKI their
families arKJ depeThknts of financial hardship.
Achifftments and performance
txwtng the yéar. the Fund agreed to pay grants, ranging from £1￿• lo £7.50012020: £64 to £11,638), to 22
12020". 33} ￿naficIa￿eS and offered r8levant adV￿e ?ThJ supp)rt ThÈ gtants Amounted to £34.76312020'.
£75,299). Included tn thts are ￿mmI1M0n1S to 1312020.. 91 beneficiaries for grants. payable after the year-
end. amounting to £33,56712020.. £28.0661. Under SORP 2020 these c0mmltrr￿ts ar& included in tr
rmandal staleménts as creditors.
The Trustees we disappointed to note that the total va￿e ofgrants abwdrded was lower this year Athough
It￿re was a similar number of applicants. Thè Trustees expecled mow co￿d-19 related application8
bul there w88 acluallya fall in the r)umberof benèr￿l8riÈs to whom assistanca was gl￿n. Effolts have been
mad& to increas& the number of applicalions as il is evident ihat globBI ecoN)mic conditions continue to te
ditficult and that somè beneficiaries have greater needs. Ajihough the Fund continuas to re¢oive a number
of debt-relat8d aP￿IcatIOnS. the TrustÈÈs do rK*t nomially assist in Ihese cases if the applicanl's positi￿)
app8ars to bo unsustainabte in Ihe l(mger-lemi. If the Trustees believe thè 8ppJicant has no Tealistic
8ltemative to an arrdngemenl thwr creditors. or bankruptcy, they wll reluctanuy decide that temporary
firwn(aal assistanee would do no morothan dÈLgythe inevitablg. In addition, the Fund w￿1 not usuallywovhga
funds for new business slart-ups or ACCA membership fees.
In June 2019. the Tru51ees undertook 8 bèspoke Trusteè Tralnlng sessbn wh￿h wax lointly facilitated by
Bates. Wells & Brdithwaite London LLP 8nd HayEmacintyrè LLP. The Irdining included updates on charity
governarKg. trustee rolos and reswnsibilities, safeguardlng. overseas p8￿Ments, GDPR, risk and a general
tharity $Èttor updata. Tn￿le6S found the sessN)n useful ar￿ established an action plan to impjernenl
all the recommer*Jed aclions. Pmgress m*Je in iMp￿ments￿g those aclions has been slow this year ¢Jue to
d-19 but the Trustees were pleased lo sign off Ihe SeNica Lèvel Agrèement between ACCA and th6
Fund. The Trustees are providÈd with tha Govemane8 & Le8d8rtiip magazine and gel awss to online
ne￿￿tetters and update8 on ch¥ity maltars 8nd inilpslments. Trustegs 4so attend appropriate courses on
an ongoing basis.
In ord8rlo prcrfnote tha Fyhd fvrther. th8 Tfustsgs ¢￿tinue to review ts comm￿le￿I￿)n 8tralegies. improve
its profile on thè website and èmbark on a numbar of pro4¢tive publ￿ttY opp￿t￿nI￿OS whgre possi￿e. The
Fund also w￿k&d wth ACCA'S Communicallons team and is lookin9 81 ways lo Util￿e sooal mèdia to
[￿mOte the Fun(18s m￿h as possibla. The Trustees also strive to maintaln close contacts with ACCA'S
brarKhes and offices oversgas and have been l¢)oking at ways of prowding supp(Kt servtces to ACCA'S
mèmbors vthhthird part*s who wn professional helplines and digital s8rvice ddiveryfor charrttes and public
sèctor organisations. This is in th8 earfy stages. but the Trustees ère confthnt that Ihis type of support
service can t* of benefit lo b¢ngfiuarie5.

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
REPORT OF THE TRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Grant maklng poIIcy
Tho Fund èxlsts to help membèrg end thelr dgpondÉnts- both fin8n¢ially and with 8pproprlate adwce. Th9
Trustee5 invbte applications for support from all ACCA mmbèrs, fomer members and thelr d9pandants.
pli(*nls submit financkgl aThJ othèr Information in a spo(ific fmat. All oppbcations are treated
pathetically and considered on Ihelr merits. Assistance m8y tske the fm of on&-off grènts to help
Ihe short-tgrm, r8gul8r ongdng gf8nts ￿ a loan which would nonnally ba sQ￿r￿j on appli(¥nt's
prop&rty. All grants are approved by Ihg Trusteès and are reviewed annualy.
tt an aPpI￿ant is impacted by a n8tural db38Ster. Ihere is a fast-ttsck pr￿85 for de8llng wilh
applic*tK)ns.
The TNstees ask th8tACCA memters a(fvise thé Secretary of the Fund of any potontkl benefioartes they ,
b8ll&ve to be in n88d bul who may bg r81tsd8nt to approach the Fund direcuy. Th8 Truste6s are eoncemed
that thè Fund doos nol rOce￿e enough applications. although they lry to contact potential banafjoari
through a vwiety of medFa.
Tha Truste65 revièw th6 guwJe11ft6s for gr8nUng assistarte annu8lly. Detals of how io lor tyants and
othor assi%tanee, toyether the televant fomis. are available from the Secretary and the ACCA wpbsilo
tt '.IlwMw.acca
lobal.coml
Imemberlmembe
Ibenevol nl-f nd
Plans forthe future
The Fund is now fully 0￿rational as the mwn chartty fotbwng th8 tr8nsf8r oflhg masorfty of ihè asset4 and
alNIMtgs from th8 charity 8stablishod by Trust Deed. The ch0ri1y es￿￿lished by Trust Deed will conilnue trj
operate unlil such time that the Trustees arè satisfied thatall tha 8ssets 4nd liabililiés havè been transferrwj
lo Iho chqrttable company. Onty ai lh* limo will th8 Tfuste8s consbY8r the dlssolutN)n of thfr tharily .
established by TTUSt Deed.
TheTrusteeswill contlnu&to malnl8ln thgtrgfforts to atrdctapplicationsforassistancefrom ACCAmembers ' .
and to treat these with courtesy and maklng èv8ry PfAssiblo effort to ensure that SLEPWt 1$ offered
tn all gpprr¥)rf8te cases.
In particJJlar, Ihe TTusleès will cor)tinuè to pn)mote the Benevolenl Fund a¢￿sS the workl lo ty reach
all memkn. This will b& done ￿th feÈtures in Accounting &nd Businw, thé Fund's website. usiNJ °
members. netsw)rks. national o)Tres and collaborating with other Benovolent Funds. Since the year-ènd the
Fund has WLYked with ACCA to highlioht awaren&ss of the Fund to members impaded by tho St VIr￿￿nt
vokano eruptK)n and i￿reased oultnaks of Cov¥J-19 in India. The TnJ5tees 8150 wtsh lo dev6iop the
relati￿$￿￿) Connèct Assist so that they can provide relevant support seNices to the Fund's
benelkiarEs. The Fund is also investigatinqthe dovelopment of an onlina applicallon fomi.
. Secured lendlng and the Flnan¢lal Conduct Aulhority
In 2015 thè Fund w8$ authorised bythe Fin8nclal ConductAuthrty{FCA) to enable itto admi￿s￿rS￿cUred
loans arKI charge nomlnal interest rates on thos6108ns. The trustg8s were keen to ensure Ihat the chartty
Wos able to support its b8nefici￿es by ptoviding low-lntgrest lending secured on the IN)rrO￿lS proparty. '
While Ihe Trusteos believe ihe FurKI doès not ad by th8 way ol business and would th8rnf(xe porhaps not
r￿u￿re r8g1stra￿on with th8 FCA. professional was received which reo)mmended th?t Ihe FufKI
conflnue to be Tegulaled with the FCA despi￿ Ihe admlnistraUve burden.
The Ch¥rtered CertIf￿d Accountants, Benevdent Fund is a compsny Ilmited by guarani89 followin9
incorpM)rnlion on 6 February 2014. wlstration number 08880293. It was also reglstwed as a charity wlh
tho Ch8rity Commlsslon for EnglaThY and Wa18s on 25 March 2014, registratK)n number 1156341, and wth
OSCR in SCO￿8nd on 9 jart￿ry 2015. r8gistr*tion number SC045337. The compgny is govemed by its
MemoraNJum end Affjictes of As￿￿lation. The company is limited bygu8rontee and theréfore has no sharo.
pltol.
Tha goveming body is Bogrd of Directors whlch conslsls of no Itss 1han.five and no more Ih8n fift
Trustees. The d￿eCtL*s (who are also Trnsleos of the ch•ity for tho WFPOSOS of charfty lawl ar8 listthj on

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
REPORT OF THE TRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTATrifs' BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Slrneture. governance and managèmènt IcontinuÈd}
Tha ￿tides of AssociatKJn provide for one third of the Trusteès to be due fc¢ wpp)inIm￿t in any one
yeèr. At 8very Annu81 Retirement Meeting one third. or th8 numbèr n8arest to Ihird of th8 Trustees,
being those who have been knngesl tn since thèir last apwntment or re8pp)intmenL must retire from
office. Where moTe than on8 third of thè Truste8s have served for the 88me perKKI of lime sin￿ thèr Lqst
appointment or reappointment those Trustees $hall agree amongst themselves vJht¢h Truslees shall retim,
or in the event th8t agreement canTh)t be reached, the decision shal be made by kjt.
The Trustees mgt four times in thè year. Due to Covid-19. these meetings were held ¥irtually. At each
meeling they consid8r8d appl￿11￿1$ frcyn potential b￿efid8nets and reviewed the financial posibon of th8
Fund. A strategy meeling is held annually 81 whlch the Twslegs a9￿ the broad $trategy and acliviligs of
the FuThl induding consistÈney of grydnt-making, investrnents, reserves and risk management policies and
perfom18n¢x. The day-tr￿daY admlnistration of grants the pmcessing and handlirwJ of appli¢&tions prior
lo ¢ortsi(thtknn by thè Trustees 15 ddegalod to th9 S8ua18ry 8nd Iha administrator.
New Trusteès are identified from the relevant skillsets and may ￿ aPF￿nted from oulwth A¢CA mèmber5.
The new Trustses wll b& appointed by the current Trustees and serve for a period of lime after whth they
may put Ihemselves tcrfward fryra-gPFK¥ntmenL During th&yearth8 Trustaos apwinted three nawTrusleos
to thè Board ftAlowirvJ a trystaa recruiknent campaign.
The Tnjstees have uwlat8d the New Trustee Induction pack wh￿h is grven to new TTUStees. The pack
irKtudès a copy of the Memorandum and Articles of Asso¢ration of Ihg company, a briof history of the
ccrn￿ny, the last th￿e years, annual reports of the Fund and of th8 unincoTwrat8d charty, recent minutes,
a cwy of the Charily Commission guidance Tr Essential Trustee.. What you need to kTh)W and a copy of
tha most recent management flnanckql staloments, str8tegy and 1>y&ar rolllng plan.
The FurKI is 8 member of the Association of ChwIt8t￿8 Organisations IACOI. Thè ACO prowdes much
helpful Infomiaiion on good prdclice. changes In the law affecting chartiles and octs as a voke lobb￿n9 on
behalf of the benevolent sector charities v￿th Ihe Go¥èmmènt Regulators.
Alllwh Mt requlred to do so the Fund has regÉstered wilh the Fundrai￿ng Regulator.
Fuftdr41sln9
Incoma forthe Benevolent FL￿d is18rg6ly fr(xn the fr)Ilow¥KJ S￿rCeS..
Regular (l(¥wtK)n$ from ACCA membets
Gift aid
R8lum ￿ investments
Legacios
Sedion 1628 of the Chariti8$ Act 2011 r84wras thariliès to m8ke a statement regarding fundraising
activiÈies. Although the Benevolent Fund does not undertake widèspread fvhdrÈising fr(Mn thè gener81
publ￿, th816glslation defines lund rai&ng a8'80li¢itlng or otherwise procuring nw)ney or other rAoperty for
charilable purpos￿. 'Su¢h amounts are ptesentèd in our accounls as'Don81ions and laga￿8$,. In relation
lo ihe 8bove the Trustees confim Ihat thè Fund dDo8 not out5(yJrce fundraising to exiemal organisations
and 15 registered wth the Fundraising Regulator. The day-t041ay managemenl of 811 Income generation Is
delegated to the S6(xet8ry, who is 8c¢iyJntable to the Trustees. The FLsnd is not b￿nd by any und8rtakir¥J
to te bound to any regulatory scheme and th8 Truslaès do rtot consider it necessary to comply wth any
voluntary code of w8clk*. No t￿mplaInts have been rtttyved in relation to fundraising activitiès.
Th•charity has no other f￿￿raising requirirwj disck)sure under S182A of the Charities Act 2011.
G¢wornan¢o Code
The Chaftty Govemanca Code VAS introduced In July 2017. Th8 code 5$ w)t slatul(wy regul8t￿n bul
'repr•sènts a standard ofgood govemancg pracb¢e towhith all th8ri1ies should aspire.. The coae requests
that Char￿e5 olther apKAy the standards of the coda or &xpl8in how thèy going to Apply them in tha
fulure. The TfUSte8s Yegu￿rty review the code to ensure that they CA)ntinue to meet the required slandards
and bulld efforts lo improve.

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
REPORT OF THE TRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Key nwn•gèm•nt pÈrsonn•l rnmuneratlon
The Truslees consider the Board of Diredors knd thg Secretary as cothwislng key marwm￿t
peisonnd of the charity in ¢h*ge of dlrectlng and Cohtrolling the charity on a day-l￿daY bass. Al Trustees
give of their time freely and no trus189 r8muneration was paid in the year. Dètails of tvjstep eX[￿se$ 8nd
rn1818d party transactions are included In notes 8, 17 and 18 to the acojunts.
Trustaes 8r8 wuirad 81 the stsrt of each méeting and all other relevant limas to disclose personal intérnsts
and register them wlh the s8￿e￿rY and in acA¥)Yrlanco wih th& Fund's policy V￿1hdraW from d6cAsions
wherè 8 conflict of inlerèst arises. The s&vtr$ of the Secretary are dortaled by ACCA.
Rofèrnnco and admlnlstratlvè Infomithn
Tnist89$
Mrs J Cde, Chairnan (from 11 March 20211
Mr P O Flnch, Chaimian (10 11 March 2021)
Mr J M Beck8degge
DrMJMBrist
S 8uTd
Mr A O Do￿￿ett (appointed 8 D￿mber 2020)
MrAEPLaufè
Mr P A Marchant {8pIMxnlad 8 Dac8mbw 2020) .
ML8s R Malher Ir8signed 22 April 2020)
Mr A Sandison
MTS A E Ta￿or lapp)Inted 8 Decembgr 2020. r8sign8d 3 September 2021)
Mr A G Th(Thè {rgslgned 9 D8c8mber 2020)
During year. Mr P D Finch. Mrs J Cc48 and Mr A G Thome retirgd as Trusteas under the ièms of the
MamoraThJum arKt ArticE8s of Asso¢i&kn. Mr P D Flnch and Mrs J Cde V4Ere sul)sequÈnlly re-Ot¢cted as
Tfttsl￿ for a fwlherlemi ofthree years.
FoltovAng a trustee ￿￿ul1m8nI (smp8lgn Mr A O Do*sett, Mr P A Marthant and Mrs A E Ta￿or YM8
aFQoint￿ as Tntstees f(Y lÈmis ofthY8e ￿rs. Mrs Taylor sUbSeq￿n￿Y resigned on 3 Septemi*r 2021.
Mr H M6Cash '
Prfnopal Oflkg
Adelphl, 1-11 John Adam Slr8e( London, WC2N 6AU
Audltor
Grant TIKknton UK LLP. Tho Colmore Bulldlng, 20 Cdmre CA￿lS. Blmiingham, 84 6AT
' I41n￿paI8ankef
ClJYJesd8le Bank 30 Stvincenl 110￿, Glasw. G12HL
Solicilo
88tes Wdls & Brailhwaite London LLP, 10 Queen Stroet Pl8ce. London. EC4R 1BE .
Wllsons Solldtors LLP. Alexandra H￿Se. Si Johns Stree( Salisbury, Willshire, SP12ÈB
Inwknt Manager
Charles Stanley & Co. LlmSled 55 Bishopsgatè. LoNk)n, EC2N 3AS
G•naral tsata Prote¢tion Rggulatloh IGDPR)
dala Protection processes and policies were introduced in 2018 sn order for tho orga,ni$ation to L*
comFlianl %wth GDPR. Fund has g data sharing agreoment Wkth the ACCA th81 has b8en updated in
lin¥ tho ngw code and our privacy statements have boan updat&J and 8rn available online.

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
REPORT OF THE TRUSTEES
OF THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
FOR THE YEAR ENDED 31 MARCH 2021
Trusle•$' r¢8ponslbllltles statsmwl
The Trustees (who are also directors of tho Chartered Cerlified Account2nts' Benevojénl Fund for the
purpow of company law) are respDnsbi le for preparing thg Rew)rt of tho Truglees and the finana81
statements In actordancp vJith 8ppli(*ble law 8fKI reguktions.
Company lÈw requires thg Trust￿ lo prepare fman(xal stalèm8nts for 8ach financtal y88r. UrKlsr th8t18W
the Trustees havè dected to Pfepare th8 financial statements in accordance ￿ United lQngdom Generaly
Acc8plèd Accourtting Practice (United lQngJom Accounting St8ndarrls and applicable lawl. including FRS
102 Thè Financial RePo￿n9 S18ndard 8pplicable in the UK gnd Republlc of Ireland. Under company law
thè Trustee5 must not approve the financid statements unless Ihey are satisfied that thèy gNe a true aThJ
fair view of the stote of 8ff8irs of the Fund and of the incoming resow(*s and 8pplifAlron of resrxircès.
iNJuding Ineome and expeNliture. of th& Fund f(Y that period.
In preparing the finandal ststements the Trusiees are requlrad to
seled S[￿tab￿ accounting polidas and then 8pply them ￿nsIstenI1y".
observè the methods and principle5 in the applicabla Ch8ri1ies SORP IFRS 102);
mak8 judgements and accounting estimate5 that are reasortable and wudent.
stat8 whethw applicab￿ UK Accounting Standards hava been followed, suble¢t to any material
departures disclosed 8nd 8¥plained tn Ihe financial statements.. and
prnpare the finan(xal ststements co￿eetIY on the going concem bASiS unlèss it is inapprcwiate to
presum8 that tho chartty wll ￿ntinu0 in opwolion.
Th8 Trustees responsible for keeping ad8quatÈ accounting records. that are suffidènt to show and
gxplain the Fund's Irans8Ctions whth disclose with roasonable accuracy at any time the financial posilicrfi
of tha Fund artd ehable them to en$￿￿ that the financial statements CA)mply with the Companies Act 2006,
the Charitl8s and Trustee Invaslmènt IStx)t18ndl Act 2LX15. the Charities ActTh)unls {Scotlandl Regulations
2(M)6 las amerxled) and the provisv)ns of the Memorandum 8nd ArWÈ$ of Assmtion. The Trustees are
a150 resFX)n￿b1e for safeguardin9 Ihe ass8ts of the Fund arbd henc£ for tsking f8asonable steps for th8
evenlion and detectK)n of'fraud and other irragularibes.
The Twst88s confimi thal:
• so far as each trust& is aware. th8￿ is m relevant audit inf0m1at￿n of the Fund's audltor is
unaware.. and
the Trustees have laksn all thè stops that they ought to hava takan as Trustées in order to.make
themsèlvès aware of any rel&vant audtt irrformation and to establish that tha FurLd'$ 8udilor is
awaTe of that lnf0miatm￿.
The Trust88s.aTr reSpC￿sIbl9 for the ovwsight arKJ integrity of th8 cwrate arKI ffin8rri81 infom81ion
induded on th8 Fund's website. Le91s￿li0n In the Unlted Kingthm goveming the prepAr81ion and
diSSem￿altoh of fmanaal slatèmonts may dffer from legisktion in otharjurisdi¢ttons.
Auditor
The Twustees hav& taken dl thè steps th8t they ought to have taken lo maka th8msefv88 aW8rè of wy
information ne8dod by the FuThl's auditor lor tha puryjoses of their au¢Jit and to establish that the 8udltr* is
a￿are of th* infomiation. Tho TnJsta6s are not aware of any relevant audit Infom￿l￿)n of whKh the auditor
is unawar6.
Grant Thom￿ UK LLP has axpmssed their willirynas5 to continue in offu. The Fund Is most grat&ful for
Grant Thomton UK LLP'S SUPPOrt and a re$olulion to rwpoinl them will b8 proposed in a¢cord8n¢e ￿th
seclion 485 of Ihe Companies A¢1 8t Ihe annual general meeting.
IIM Cole, Ch￿rman
22 September 2021

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
STATEMENT OF FINANCIAL AcnwTIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2021
Total funds
Total funds
Ye4r thdod Year ended
31 March
31 March
2021
2020
Incomo
Transfer in from The CharterÈd Certifiad
Acwun1an￿ Benevolent Fund (unincorporated ch8rity)
Donations
Le9ac*S
Inv9skniant income
238
75.131
8.033
91,601
1,628
78.019
12.535
132,343
Total Incomo
17IOD3
224,525
xpèndilur•
Expandllum on rwsing funds
Investment managemènt Costs
7.8 Eynditur¢ on charitable éctsvihes
21,507
59.716
21.7f2
111.826
Totsi •¥penditur¢
81.223
133,588
Not In¢om• •x¢ludlng Investmefftl gains111￿s•s)
9J,780
J.9a7
10 Nei g4ir)sl{k)sses} {*) ￿n￿s￿entS
735.313
1484.4161
Not Incomp and not movomwtt In funds
V29.093
(3914791
R8eon¢lllthon offunds
Tot￿ funds browjht lO￿ld at l Aw
4137,OD3
4.$30,482
Tptal funds tarried fornya￿ at J1" March
096
4.137,003
Al anounts relate lo u)ntinuing Bctivrfies and to Ltnr8striC￿ funds.
Th8 accomp8nying not8s on pages 13 to 21 fom port of thes6 finan￿81 st&temenl3.
io

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THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
BALANCE SHEET AS AT 31 MARCH 2021
COMPANY NUMBER Q8880293
31 March 31
2021
2020
Flxed •s5ets
Investsnents
10
3.771861
2,988.093
Current a8s•ts
11
Loans
12 Amounts dua from related parties
Tax recoverable
rèpAymenls and accN8d income
13 Short-tem) knvestments
Cash 8t bank and in hand
205,705
96.IM4
46.530
3.456
596.672
171,196
2[￿.138
14,012
11.327
492.895
289.463
1,229,558
1,185,031
14 CY8(htors: amounts falliw due within one year
42,323
36,121
Net ¢urrent a$s•ts
1.187.235
1.148.910
Total assets less ￿rr•nI Il•bilities
4966.096 4,137,003
Funds
16
Unrnatii¢ted funds
Designated funds
Ggnerdl funds
309.063
4657.033
274,808
3.862.195
Total funds
4.966,096 4.137,003
The finanu81 ststemenls were 4)proved by th8 Tnjstees on 22 S8Ptombèr 2021 and signed on Iher
behaw by:
Ja¢quollne Col•. Ch8iiyn8n
The accom￿n￿ng notes on p8ggs 13 to 21 fomipart of these finanual slatemènts.
II

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THE CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLEpif FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2021
T¢)tsl fvndg
Total fuNts
Yetr endèd Year ended
31 March
31 March
2021
2020
Net ￿tyh Provid￿ byl(used In) opèrating a¢lMd
89.319
1115.965)
1ftte￿$t afid thvidends
Pr￿￿ed5 from sale of inv&%tsn8nls
91.601
273.626
132.343
117,337
N•t ca¥h providèd by inv•stlng actlvities
365.227
249.680
Cash flows from financin9 aedvlll•s
Purchase of investments
(329.081)
1236,957)
Not ¢abh ￿ed In financlng acthiities
{329,0811
1236.957)
Chang• In Cash and equlvahnts In the yoar
125MS
(103,242)
Roeonclllatlon of fund$
Ca#h and tqulvalents biought foTwa
782.358
885.600
21
Cash and ¢ash ewlvalonts carrl•d
907.823
782.358
Tha acGompanying notes on pagos 13 to 21 fomi part ofth8se fjn8ncial$tat8mgnl&.
12

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THE CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
General Infomiatlon
Thè Chartered cert￿￿d Accountanta, Benevolant Fund L8 a ujmpany limiied by guarantee. The
Ibabilily of eath memb6r1s rostrthd to ? maximum of £10 in th& 8v8nt of a wnding up.
AccovntFng Pollcles
The following aCctrJn￿ThJ pdKi8s era ¢onsKkred materlal in relalion to Ihe Fund's financA&l
stat8menls.'
(8) Ba￿8 ofpreparntlon
The financial statements have been preP￿d under the historical (y)st convention, as modified bythe
inclusK)n of fLxed asset Investments al martet valuo. and in accordance with th8 Statement of
Recommanded Practice.. AccountirwJ and Reporting by Charities preparing thèir acC￿jnts In
COrdan￿ vrith the Financial RepM)rting Standard 8pplicabtè in the UK and Republic of Ir8land IFRS
1021 {effactive 1 January 20191- ICh8ritios SORP IFRS 1021). thè Financlal Re￿rtIng Standard
8pplIcab￿ kn the UK and RepUb￿C of Ird8nd IFRS 1021 and the Companies 2(K)6.
The Fund meets the definition of a public benefit entlty under FRS 102. Ass8ts aThJ Ikqbililies are
SnitiBlly rerngnised 81 histortcal cost or traN8actÉon value l￿leSS otherwise stated in th& ralevant
accounling poliGy note(sl.
Ibl Cnbc81 accounlin9 èStim8tes WKliudgements
The prapardtron of fin8nc#al slatÈmerts. in confom7ity wlth generalty accepted 8ecounting prinCI￿eS.
requires Ihe use of estimate$ 8nd assumptions that 8ff8ct the reported amounts of assets ar
1k9b1l￿eS 81 Ihe date of the fIna￿tal statemènts and the reported am(￿nts of revenues and experws
during the reporting p91t￿J. Althwgh these èstim8tÈs ore based on th8 TTUStaès' best kn￿￿1g& of
cuvront events and acbons. 8ciual resums ultimatety may drffer from those estimates.
The 8StiFnates and 8ssumptv)ns which have the most slgnrfK*nt risk of causing a matarial 8djusknent
to thè caTrying amounts of assets and liabililigs relate lo the [￿0verall11ty of th8 loans. Where there
on IndKation Ihal thÈ loan 15 not recoverablè 8 ￿vIeW will te undertaken of the recDverable amount
of that asset basèd on va￿e In use c8lcaJlatw)ns which wll involve estimates and assumptK)ns mad8
by the Trustees.
(c) Incon￿ rgcogntti(
All income Is rècognised once th8 charity has entitlementto the ncome. It is probable thatthe incom8
will be r8￿1ved. and thè amount of income r8coivablè can be measured rdlably. AN incoming
resources am aco)unted for on 8n 8¢crnals basis excepl for donalions which are accountèd forwhen
received. Legac￿$ are recognised on 8. cas&by4ase basis when the 8dmini8tratorlexeculor for the
eslale has (xjmmunicated in ¥witing tK)th the amount and sèitlèment dats. Interest on funds hèld on
d8WSit is induded vthen receivable and the amount can be measurad reliably by the charity. this
nomially upon nottfic81ion of the interest paid or payable by the bank. Dividends are recognisÈd on
8 receivable basis. Investmènt iiKome Is Stated gross of taxÈtion rècoverable. Interest re(dvabl8
on loans is recognised whon ￿CeIpt can be established with sufficient reliability. Grfts in kind arg
recognised al their market value on receipt (see notes 17 and 18).
(d) Ewndfturn recognition
Liabilities arè recognised as axpendltur8 as soon as tsre Is a ￿gaI or Constr￿t￿e obligation
committingthe Fund tolhal expanditure. it is probable thatset￿ementwlll be required. a￿1 the am(NJnt
ofthè obligation can bè me8sured reliably. All 6xpenditu￿ is accounlgd foron an 8r£rugb basis. Al
expenses including supportcostsand govemaneecosts areallo(£ted orappOr￿ne￿ to tha apKAicable
expgnditure headings.
13

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTANTS. BENEVOLETrff FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 hlARCH 2021
A¢countlng Poll¢l•s (continuod)
l&) Prpp8r8tion of the accounts on a Ping ¢onc8m basis
The Tnjslees have considered the impad of Cokn&19 on Ihe Benevolent Fund's acbviU6s. which
indudes the possibllity of
lower Investment values due to thg StoL* Ma￿et vdatilty"
increased applicat￿n$ from affected membèrs and their f8mili8s;
r8(luced levels of d(￿atiOnS
The Trustees have r6vlwe(l the 15-year financ481 pLgn takirg inlo account vAriou$ impacts.
Follovlng that revtew they are sBlisfi8d that tho Fund has st￿Clent reserves to continue lo help
b8neficiari8s for many yéars and Ihoy have concluded that thgrg are no material un¢ertainli8s about
the c*arills ability to COnt￿￿È 8$ a going ￿rw￿￿. Accordirgly, th& firHnci81 slatsmènts have
prepared on a going concem b8Si$.
Ir) Fuedasset inves
￿￿ed asset investments aft a f¢Jm of basie ffinancial instrumènt and are i￿￿411Y reoJgnised at their
Ir8ns&titin value Bnd subsaqwntly measurwj at their fair value as at the balancg sheet date uslnu
thè ¢k)gng quoted market prKe. Thè stAt8mentoffinancial activitlès indudesthe net gBlns and h)sses
arksing on revaIL￿10n and disposals through1￿1 the year.
The man fomi of financral risk fac8d by the ch8rty 18 that of the volatility in equity markets and
irweslment markets dua trj wtdèr8o)homic C%)nd￿￿nS. the attiiude of iTrvestors to inv8slm8nl and
th8nges in sentlmonl (xmceming quities Ènd v¢ilhln Part￿ular s8Ctors or s￿￿$e¢l￿$. The Fund
does not acquire pul opt￿& derivalwes (* other coMp￿X financial instruments.
Igl Realis&d 8ndunreBlised gains Bnd Ioss8S
All 98ins and10ssesare taken to the statement offina￿l81 acti￿lieS as Iheyarise. Realised gains 8nd
losses on inveslments are cakulated as the difference bet¥wn sates rKoceeds and Iheir openwig
rfying value ¢x th8ir purchasa wicè rf 8cquired subsequent to the frst day of the financial year.
UnrealisÈd galns and loases 8re CakU￿t&￿ as the drf[erer￿ behveen the fair v81ug at thè y￿r￿Trd
and their carrying valu9. Ro81ised and unrealbsed investment gains arKI los$8s ar9 C)￿binèd in th8
statement of financial activilias.
Ihl FinanGialinstllTh8nts
Finandal Instruments recognlsed in th8 b81anL% sheet i￿ud& cash and cash equivalents. 8vailabt
for481è investrnerts, r￿Vab￿S and prepayments, and trado and other p8y8bles. Finwciaj
instruments are initially valued at fair value. Financ4al assets are derecognised when the rights to
receive cash flows from lh& asset have 8xpirod. Fln8ncial fiabililies are derecognised vthen th8
obligation undèr the liability Ls diSch￿ged ot ean¢ellgd or 8xplres.
Th9 dwrlty assesses at b8lanco sh88t date ￿ether a fmancrdl asset is impared. Wh8ro a
financkal asset shows an indlcalryof impaim)ent, tt is tested to assess %thether il shouW be specif￿lY
Impaired. The recov8r&ble amounts of fin8nci81 assets are calculated by discounting the estimated
future cash Ilows using lh8 Nlginal effècllve inl•r8sI rate. whe￿ the recovorable amount is ￿s$ Ihen
thè carrying value. an im￿1rm£nt loss is rvognwd. Subsequ9t)t to reco9nising IhBt Impawmgn( Iho
impaim)ant may reco￿red If an èvent occtsrred that rever¥es the imp8imenl indi(*tor.
Subsequonito inilMI T￿nrt￿. finarrial inslrum8rils are maasUF￿ as set oul bdow.
Loans are carried al the origirtal amount advanced to 8 beneficiary less any pawnents made. and less
prOVi￿On made for the non￿r￿Vel8bII1Iy of these loans. A provision for impaimient of loans Is
eslaNished when th.ere is oblective ovldenf* that the Benevolent Fund wll not b& able to ¢ollecl dl
amounts due according to lh8 thiginal temis and conditions ofthe loans. The amount of the provtsion
is the dlfference belween the ¢e￿ng amount and the remrnble aM￿nt, belng the present value
14

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Accountlng Polleles leontlnuedl
Ihl FInan￿al￿St￿rnents (continu8d)
Cash and cash 8qufval8nts
Cash and cash aquivalents ar6 carried in the balance sheet at c(k%L For the purposes of thè ￿sh
tlow statement, cash and tash equivalents ¢ompris& eAsh on hand cf bank overdraft 8nd slN)rt-term
invostsnents and are $ut48cI to Insignificant risk of charoes in value.
Tiade and olher payables are statad at thair fair value.
Galns andloss•s
All gains or loss88 on fin8ndal assals aTrJ 118bilitM arg racognised in Ihg statement of financial
actlvltl8s. indudb)g unraalised and realis&4 gain5 or105SgS inv8slmbnts.
UnrestiiGted fvnds
The unrestricted general fiJTrJs represent the amwnts re18kned to ensure the conlinuing ch8I7tab
activitias of the Fund. Designated funds arè unrèstrided fund5 that s￿ sèt asrde 8t the discretion of
tho Trustees for spethfi¢ wrpos8s. Tha purpose of specific deS￿￿ated funds Is shown in rnte 15 to
financkgl slatements.
ti)
. Short-t8mi invostmgnts
Short-temi investments ir￿lUdeS cash dep￿ts *lth a malwity of between 3 monihs to 1 year frun
the date of ac4uisltion or opèning of the deposlt or simlar amount.
Ik) Cash at bank and in hand
Cash al bank and ￿5h In h&nd Indudes cash short-tom highly Ilquld invesimènts vAth 8 short
malurity of th￿ mnlhs or less from the date ol acquisition or opaning of the deposil or SIm￿ar
Support costs
Support Costs c4Jmprfse the ujsls of administrativ8 SLEP￿￿ provide(I by ACCA and Trustees.
expènses, both of wh￿h arè Apportioned between Gr8nts Pay8bl8 and Governan￿ Costs on the
basts of the lime spenl on thich actiwty. Detai15 of supp(xl costs Bre gven in notes 8, 17 and 18.
Im) Exp6nditurn Dn rai&ng funds
The costs of generating funds consist of Investment management wsts arKI c*rtAin18gal kn.
Inl EKpgndJlure on charttabl8 adivilies
Costs of Charitatr￿e activities includ8 grants made and an ap￿r￿0￿ment of ovèrhead and SUFVWt
costs as shown in notes 7
lol Govamanc8 costs
&)vernanc8 costs (x)mprise expenditure rdating to the FUNI'S gwernance and include any costs
related to audi( legal and rMofe&8ion81 fees together vrith an apportlonmgnl oloverhead and supwt
. costs as shown in Doias 7 and 8.
(pl Loons
Loans are sc¢ounted for as a debtr* oncé the funds have bèen remitled to the benef￿ary and the
appropriate docajmentalion has been re¢eNed. Allhough loans are treated as current assats. il 15 nol
expect￿ that any of thèm will bè repaid in tull wlhin one year. Provision is made for non-repayment
of loans wh6n thè Trustees believe there is lilue like1kn￿l of recovery. Intsrest on loans is rKIt
a¢(*wnted for until the loans are repaid.
Iq} Grant4n8A7ng
Grants are accounted fLyWh￿ elthérthe recipient has a reasonable 8xpeotatKJn that Iheywill re￿1¥9
a grant and the Trustees ￿ve agreed to pay th& grant wilhwt conditK)n, or thè rÈdpienl has a
reasonable expectation that theywill rnceive a granl and anycondiknon attad)ingto Ihe grant is outslde
the (x)ntrol of thè 8&n￿0t￿nt FLtnd.
15

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERÉD CERTIFIED ACCOUNTANTS. BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Aee¢)untlng Polieles {continuod)
Ir) For8ign otvrencies
T.ransactions in foreign CUr[￿￿1eS are Convertèd into st8rtlNJ. whi¢i is the presentsli¢Jnal currenGy
of the thsrity, at exchange rates rullng at Ihe date ol the transaction. Monètary assots and li8bilili6s
denomin8t8d Sn foreign currencles ore translated at the rats of exchange ruling at Ihe b31ance sheet
date.
Is) taxation
Tho Chatlwod Cortifiad Accounlants. 8en8volent Fund is a registered thatity, And as such is entitlÈd
to certain tax exemptions on income and profts fn)m examptions. and SLwpluses on any a¢livSties
carried on in furtherance of the (*ariWs prlmary obiectnres. If these worts and Su￿￿SeS 8re aPpl￿d
sdely for charitable. purposes.
V8lu&llon of $9rvlcgs and fodlltlasprovided fr8e of charge
The Assoctat*)n ofchartered Certified AL¢ounl8nts (ACCA} provKlgS Stéff and fa¢ilit*$free ofcharge
io the tharity in orfer to fulfil its eharibbla objeciives. Additionally. certain adminlstr8Uvo costs are
bome directly by ACCA. Valu8lton of the servw 8nd feciliues has been included a5 follows:
Stall are valued as a proportK)n of salary and related ￿Sts based on an estimat& ofth8 amr￿n1
of time rdevant ACCA staff members S￿nd on Benèvdent Fund activtties over the perlod Ihe
Ilnanrjal ststements are prepared.
Fa￿ll(leS prowded by ACCA for hosting tharity meelIn￿ are valued ￿lfi9 a dal￿te rale for
hirfng'similar venL*S frLxn a thtfd-party tranua provider.
Costs, i￿ludIng audit fees, which are bcw dir8Ctly by ACCA ar8 measured uslrlg tho amount
paid by ACCA to thè third-party prowder.
These meth(MJs ￿proxIMate falr valug.
{u) Fund$
FIn￿31 proj8dons are prepared annually and rnvts8d as netassary. The mwrc8s of the
Benèvolent Fund are used to the tull extènt available and 8nyaccumUk￿n of assals Is forfulure usè
der the tems of the Fund. Reserves are not intenllonally held at a defin￿ ￿Ve1 bul are used as
*)d when apkyoprlate 8cllwtles are approved that fdfil the obieolives of th8 Furwj.
31 tAar¢h
2021
31 March
2020
Ch#rilabl• donations
Donation from the Chartered Certified Accountants.
Benevolent Fur
238
1,628
Durn)g the year thg Fund Tocelved £238 frnm the unincorp(K8ied charity, the Chartered CertiF(ed
Accounlanls. B8n8volenl Fund. as authorised bythe transfer documentalion Ithich be￿me effeclive
as at 31 De(*mber 2014.
Donatlon$
Donations frffj) m8mt*rs
Gins in klnd- costs reknbursed by ACCA (notes 17 and 18)
929
19.202
47.SOO
30.519
75.131
78,019
Investment Income
Divldends on listed In￿tmentS
Intsrest on cash deposits arKI ￿ed Tate investments
81,798
9.803
119,389
12.954
91,601
132,343
16

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
ThE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLEMf FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Inv•slmont management costx
31 Mwch
2021
31 March
2020
Investment managament faès
21.507
21.762
Expèndlture on ¢harhablo actlvltlfjs
Year ended 31 March 21)21
Dirèet
co$t•
Support
31 Il•r¢h
Grants pay8bte
34763
5.751
13,442
5,760
48,205
11,511
40.514
19.202
59.716
Year ettded 31 March 2020
Direct
costs
Support
(xjsts
31 March
2020
Grants payable
&)vemant¥ costs
75,299
6.008
21.363
9.156
96,662
15,164
81,307
30.519
111.826
Support costs, consisting of Trustees. axp8nsos and the office costs of the Fund, including staff
salaries. arp split betv*en gI￿t making arKI governa￿e on th& estKnaled time sp8nton èach activity
as shown in the tablg bek)w.
Year ended
31 March
2021
Support ¢¢)sts
Bas1$ of apportlonm¢nt
Grants Govemance
payabl•
offi￿ costs
Work done
Trustees. eX￿n59S Actual
Staff expenses
Actu81
M881ing Costs
Actual
12.600
14000
211
631
301
270
13.442
5.760
19,202
Year end¢d
31 March
2020
Support costs
Basis of apportiorffient
Grants Gt)vgmance
pardble
Offi¢x ¢xsts
Work done
Trustees, expertses ActLHI
Staff expenses
Actual
M8atiThJ costs
Ltual
11.900
5.539
2.549
1.375
5.1
2.374
17.000
7.913
3,641
21,363
9,156
30,519
The Fund has no emFdo￿e$. Thè SecTetsry and adm*iislrativ8 st8ff arè 8mploy8d by ACCA Ar)
prowrtion of their st8ff costs is induded in support costs above.
17

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIÉD ACCOUNTANTS. BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Analysls of g*ants
All grants aw8rded are for the benafit of indivhknls Ènd thelr fwnlllès.
$1 March
2021
31 March
2020
10
Investm8nts
Quoledlnv•stm8nts
Markel valuo al 1 Aplil
Acquisitions
Dlsposals at C8ryrwJ value
Net unrgalisÈd Investment gainsl{losses)
N81 rnalised investment gains on di¥NJsal
2988.093 3,352,888
329,081
236.957
1273.626) (117.3371
691,801
(489,238)
43.512
4.823
Market vath at 31 Morch
4n8.861 2,988,093
Historkal u)st as at 31 March
3.258,617
3,15>,648
Investmènts #t mathÈt valu•
UK Equtbes
Eurw Equhies
North Arnerica Equthes
Asi8 Paufic.Equtbes
Other Global Equ11￿$
UK Gilts
Olhar Fixwl Ihtsmt
Property
Jtem8tiv8s
1,871791
129,992
499,891
289.342
2H355
82,132
408,061
121402
101.895
1.$18.944
123.672
393.653
270.879
106,774
136.094
308,325
129.752
3.778.861
2.988.093
AJI iwe5tmenls are carried at thelr f8ir value. l¢weslm8nt in equities arml inleregt se¢LYities are
all trad*1 in quoted publK marf(ets. ptimarily the London Stock Exchange. Holdings In common
irNestment funds. unll tnjsls 8nd opÈTrÈnded investment companies are al the bid prke. The basis
of farvalue fLY qtKJted investments is 8quSvglentto the nlark81 vabje. using the bid price. Asset ￿18$
and purchases ar8 re￿)g￿lse(l at the date of trade at cost (that 15 their transaclknn value).
Al investment assets vffjre hfjld In the UK excepl 99 disclosed above.
The Wowlng Indfvidu81 sh8rehoklin99 or investrnents are considorad individuolly to ba mat8rial with
the nwrket valugs and prop(4ti￿ of the portfolio shovm 88 at 31 MarL* 2021:
Holdlng
ma￿at Valuo Percentagfr
of Portfolio
Bla¢kRock ChaYltl•s UK Bond A
226,696
6.0%
Th6 TTUSte8s sèt 5% of year-and martol v8lu8 of the InM8tment portfrAK) as th8 Itweshdd
reporting material inv691ments.
11 Loan$
Loans are cla#￿Ti￿ as debt0￿. They can be repaid at any time and are therafore cgtegorisad as
current assets. Mtsstof ihe loanÈ ats secured bylegal charg8s onfreehold propèrtiesand are interest-
bearing at rates relAted to bank rat6. T¥￿ loans tolalling £39,455 wera awarded during the year
8nd the loan whid) vrds belng repaki by instalme￿S was written off during th.e year.
18

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FPR THE YEAR ENDED 31 MARCH 2021
31 March
2021
31 March
2020
12 Amouhts from rolatèd partles
Due from ACCA
Due from the unincorporated charity. the Chart￿d
Certif*d Accountants, Benevolont Fund
352
9&692
2C6.138
9&044 Xkn.138
13 Sh¢rt4emi Inv•stments
Markèt value ol 1 Awil
A(4uisitions
DispJsals at cartyng valu8
492,895
573.101
596,672
492.895
{492,89SI {573.1011
Mthel value at 31 March
J6.672
492.895
Histrrrical tx)sl as at 31 March
596,672
492.895
14 Credltors: amounls falllng du• wlthln one year
Trade creditors
Grants commltted
ALxrued expenses
Due to ACCA
3.1)00
33.567
4756
28,066
7,786
269
42.323
36,121
15 Transkn belwn funds
Dè8lgnAtsd Funth
Dlsastar
Loan
Fund
Fund
G•n•ral
funds
Total
At 1 ￿.12019
4,243,963
Nat mov8m8nt in hjnds for Ihe p9tlod {393,4791
Loan Fund- loans repaKI
2,000
Loan Fund- loans awarded
(1.376)
Loan Fund- forex gain
(1.646)
Loan Fund- loan WTitlen off
2,000
Transfer in ￿￿pÉ¢t of Disastèr Fund
18.9921
Disaster Fund ublised in the year
19,725
114.345
172.174 4,530,482
1393.4791
1.376
1,646
{2,(K)01
8.992
(19,725)
At 31 March 202011 Aprll 2020
Net movement in furKIs for perK)d
Lo8n Fund- loans aw8rde(I
Loan Fund- forex Ios5
Lo8n Fund- loan Writt￿ off
Transfer in rasped ol Disaster Fund
Disaster Fund utilised in the year
3.862.195
829,093
(39.455)
2,260
2.686
(7.377)
7,631
103.612
171.196 4137.003
829,093
39,455
12,2601
12,6861
7,377
(7.6311
At 31 IlJar¢h 2021
4.657.033
103,358
205,Y05 4966,096
Tr* designat￿ Disaster FurKI is aValab￿ to PTovlde omergenty a￿starte to memb*s and the
families who have been affecled by national or intemational disastsr. The dÈsign8tad Loan Fund ts
maintained al a value equal to the tolal amount of loans to ben￿cla￿aS And recognbse8 the lact that
thgse amounts s￿ not available f¢K the Fund's day4(￿daY operations.
19

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTAiifs' BENEVOLENT FUND
NQTES TO THE FINANCIAL SYAtEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
16 Analy81$ of net assèts betweèh fund#
Net current
Inveslments
Totsl
As 8t 31 Mar¢h 2020
Unroslricted funds:
Designated funtts
General f￿￿$
274,808
274.808
874,102 1862.195
2,988,093
2,988,093 1,148,910
4.137.003
As at 31 March 2021
Unrestricted funds:
D8ÈlgDated funds
General funds
309,063
309.063
878.172 4657.033
3,778,861
3.77W1 1.187,235 {966.096
17 R•lat•d party Iransactlons
The Fund exists to provide as&Star￿e to persons In need who are or have been m8mbers of ACCA
tYrel8ted org8nls8lk)ns and theirfamilies and dependants. ACCAIS respth)slble forthe administr8tÉ
of the Fund and beats some of hs overhead 8xponses ￿lch are not relle¢t8d in th8 Statement of
fin#n¢i818¢tivitSes. However. slaff costs. staff eXp￿Se$ and Trustees. costs irwrred by ACCA
omounling lo £18.301 {2020.' £28,554), aro illcluded as irKxJm• 1n.the sL7temenl offinan(ial ￿lIVitieS
as'grfts in kiTrJ' aThJ th8 6xpw)diture as'supprfi co*..
ACCA also collects certain income and pays certain Èxpendilure on beknalf of the Fund and therè
may, Iherefore. at any tim8 be a balance OLrtstanding tetwègn tha Fund and ACCA As transfer
of assets and Ilabilillès from ts UnIr￿rpOrated charity is still ortgoing, abalance may exist betw6gn
the tsvo Chartered Certif￿d Am)untants' Ben&volent Funds. Any such balances at the year*TMJ are
[dentif￿d separatety In thÈ baloncA sheet.
31 March
31 March
2020
Related party balancè8
ACCA
Chart8r¥d C8rtifièd Accountants, Ber*vokrt FLmd
lunlnwrF(W8ted charity)
Owod Owodl(owing)
352
1269)
95.692
.138
205.869
18 Ynth•' exp•n$es and r•muneratlon
Th& Trustees am give frèely of their time experUs& ￿out any forn of r￿unerall0n or other
t*neffts in cash or kind12020: £nll}. They may be reimburse(I for difoclly inrJJrred expen￿ or costs
may be ihcurred by Ihè Furtd fty attendance al meetsngs. In total. these costs amun1￿1 to £nli (2020..
£7,913) to 1012020.. 91 Tru*es. Forthe yearended 31 Marth 2021, all meetlngs were held vrrtualy
and fci the 10 T￿￿tee5 th&re was £nll12020.' £3.6331 reimbursed for thelr travel expenses and £nil
{2020: £4,280) for 8¢ix)mmodation costs in¢urred by the Fund. Thas8"are induded in Ihe statement
of fin8ncial aetivitss (incorp¢Jrating incofftè and èxpènditure account) under Income 8s'gifts in kind.
d uThJer expenditure as'SuptM)rt wsts..
19 Audhovs rfrmuneralion
The costs of the whlch were £5.26512020: £5,138), ￿re borne by ACC
20

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
31 March
2021
31 March
2020
20
Re¢on¢iliation of net mov•mnt in funds to net c4sh flow
operatlng a¢tlvltle¥
N61 movement in Tunds
Investment income shown in investing acttvit
Net Igainsylosses on investments
Decre8sellincrease) in debtors
Increasa in (¥editots
829.093
1393.479)
(91,6011 1132.343)
173S.3131
484,416
80.938
192,051)
6.202
17,492
Not used in operallng thitles
8*319
{115.9651
21
C49h and G•sh •qyivalents
For Ihe puryxjses of the cash flow statament. cash and cash Èqulwdlents are defined a5 thè follovrfing:
Short-tgmi investrnants
Ca$h at bank and in hand
.672
311,151
492,895
289,463
Cash and (Ash equivalents
907.823
782,358
21

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEÉS OF
THE CHARTEREP CÈRnFIED ACCOUNTANTS, BENEVOLENT FUND
Opinion
We hBVe audlted tho fln8ncial statemènts of The Chartered Certffied knntants. Benevolent Fund (the
'charitabJe companll for tha yaar endéd 31 March 2021. vthi¢h ¢(￿prise the Ststement of Fin8n¢¥al
AC￿ville5 linwrporaling Income and Expenditure Account). th8 BalBncè Sheet. th& Cash Fkjw slatsm￿*.
and the relat8d notes. The finan(xal ￿￿K)rtilig framework that has been applied in their preparation is
applicabla18W 8nd Uniiod lfjngthm Accounting Standards. induding ￿nancIal Reporting Standard 102:
The Financial Repot1ing St8ndard applKthle in tho UK and Rewblic of IrelaThJ (Urmted
Acwted Acccwjnting PrBcticel.
In our opinion, the financial slat¢ments:
give a true and fair vièw of tho slate of tha ch8rhabie comp8nVs affalrs as ai 31 Marth 2021 and of
incoming resources and *r¢&iion of resourcos Ind￿1n9, its incomè and expenditure for the ywdr
ended;
have ba￿ prq)8rly prèpared in attu)rdance wilh United knngdom Generally Accepted Accounting
Pracuce. and
have been prepared in accordance with the requlr8m¢nts of Ihe Companies Act 2006. the Chafllk&%
9)￿ Twsteé Investment IScoUaThJ) hLt 2005 and regulation 8 of the Charilies Accounts l&oUand)
Regulat￿n$ 2006 las amendadl.
Basls for opinio
We have been aPKDinted as authlor under se¢bon 44I1Mc) of tha Charities and Tntstea Inv8sknent
(Scotlandl Ad 2005 und8r Ihg Comp8ni8s Acl 2006 and rq)ort in acctsdanca with règul81itins mad
under those Acts. We conductod our audSt in accordanca vlth Intematknn81 Standards on Auditing IUKI
(ISAF IUKII and 8ppli(*ble18w. Our responsibilitiès under those standards are further describ&J in the
'Audriorfs reSp￿SIbIlitIeS for Ihe audit th8 ffinarKld Stslements, se¢tion of our report We are
independent of the tharitBbla company in accoTdanog with the 8thie81 requ￿MentS that ar8 r818vant tr)
our audit of the financial statements in the UK, ir￿lUding the FRC'S Ethical Standard. and we havg tulfilled
our ¢Jther elhkal responsibilities in aceC￿an￿ with these requiremants. Wo believe that the au(tht
evidorKe we have obt8inthY is suff￿￿nt and appropriate to provide a basKs for wr opinion.
Con¢luiion8 ftthling to going concern
We Bre rospmsible for ¢J)ndudirw on the apprDprialenes8 ol the trustoe5' use of ￿ going concern basis
ol acetrjnling and. basad on Ihè audit èvide￿• obtainwl. whethèr a matWi81 une8tsir)ty &xists rèlat8d to
events or conditions that may cast slgnifThnt doubt on the charitable compan¥s ability to continue as
going concern. If w8 concIL￿6 that a rnaterial uncertainty exists. we are required to draw attent￿￿ In cMJr
repfxl to the related disdosures in the fill￿CIal statements or. rfsuch dsclosures gre inwjequate, to
modify the auditorfs opinion. Our ¢]onduslcffls are based on the audil evidence obtained up to the date of
our report. However. tuture events or Lx)ndilions may cause the company to tease to continue as a going
conogrn.
In our eVa￿alk)n of the trustees. condus1￿$. we ¢l￿S1dered Ihè inherent risk4 8SSLxlat8d the
charilBbla company's t￿SIn￿$S mcMlo1 induding gffects arfslng from macn>gcx)nomi¢ uncèrtainbes suth as
Brexit and Covi&19. wo asFessed and chalknged tha reasondbkness of asEimat8s made by the trustees
and tha ra￿tad disdoswres 8nd anttl￿d how those risks mighl 8ffed 1*Witab￿ ttMnp*)y's financial
rescurces or ab￿lty trj continve (4)erat￿rts over the going con¢Bm pedod.
Based on the work we have perf¢)miwJ, we have not identified any material uncertainties relaknng to 8v6nts
or conditkons that, Indi￿dUaIty or colléthv¢ly. may Cast $kJnI￿nt doubt on thè charitAbla companls ability
to ujntinue 8$ a going concem ftjr a perir*J of at ￿t twelve months from whèn the fina)cial statements
are aLthorlsed for isgts.
In audilino the financial ￿teMents. we have concluded that the twstees. use ofthe goTrig ￿￿¢*M bas18
of 8(tounling in the preparation of th¢ ffnancial statèments is appropriate.
The resF4yLxlbilit￿ of the Irust¢es wlh respect to ¢oneem are desud)ed wi thp'R8sp)nsibililiès of
Irnstees for th• financial statements. sectk*n of thls reporL

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT FUND
Othèr informatl¢Jn
The trustees are responsible for the other infomiation. The other infomation comwises the ￿fOrMatiOn
induded in tho TrL￿. Annual Report, other than the financial slatemÈnls end our auditorfs r6port
thereon. Our opinlon on tt)e fin8n¢l81 Slatamgnts does not cover Ihe olh8r infomalion and, excgpt to the
extent otherwise explicidy stated in our repJt. we do not express anyfom of assur8n¢e condusion
thereon. In conneclK)n with our 8udlt of the financial statements. our respjnsibility is io re8fl ￿ 0th8r
1nf0rna￿n and. in doln9 so. consider whether the other information is malerially Inconsistent wtlh th8
finaniial statements or our knowledge obtained in audit or otherwise app8ar$ to ba matertally
misst8tèd. If wè idenlify such'material inconsistÈnrAÈ$ or apparent ffiaterial misstatements, we are
required to determine whether there is a material misstatement in the finwo31 statements or a matsiial
misstatemgnl of Ihe other infomiat¥)n. If, based on the work w havg perfomied. we condude that the￿ is
a material missl*ment of this othèr infomia￿n. wa aro r8quirad to rewt that fact.
We have nothing to report in this regard.
Oplnlon on other matters prescribed by the Companlo$ A¢t 2006
In our oplnlon, based Ihe work undertaken in the course of tho audll:
thè infi)rmati1￿ given in the Strategic Report the Dir&tors' Rèport, PTÈP8rèd forth& purposes of
company kw. I￿l￿dad in th8 Trust￿. Annual Report for the financtal year for which the fin8n¢ral
statements are Fwared is consistent the ffinancrdl Ststtm￿ts.
th8 Strategic Report and the D￿￿￿rs. Report included in the Trustees. Ann￿1 ReKth have b
prewed a¢¢or(18nce wth applicabso l&gal requiremerts.
Matter on whlch we are r•qulrad to r•port under tha Companles Act 2006
In the light of the kn￿edge and undèrstandlng of the charitsb￿ tx)mp8ny8nd its environment obtsined In
the c(¥Jtse of the audit. we have not identified material missialements in the Truslees. Annual ReporL
Matt8rs on vthith arn roqulred to Teport by excoptlon
We hava nothing to report in reS￿¢t of the following malters where the Comp8niès Act 2[￿ ahd thé
Charitle8 AccoJnts IScot18ndl Rwlations 20(6 (as ￿end￿J) req￿re$ us to reportto Y(￿ rf. in our
opinlon..
prDper and adequate accounting records have not been kept. or relum¥ adequate for audit hava
not been race1￿d from branchès not visited by us" or
the Ilnan¢ial ststements are not in agreement tsvith Ihe accounting reCt￿S and retums: or
ce￿n dtsdosur8s oftrustees, romunw*ion specÈfied by law are not m8d8' or
• we have not r￿eNed al the infomiatlon and explanations wè require for ¢)ura￿j1t.
Responsll)Ilitles ol trnst••8
As explained more fully in the Trustees. Responsibilities Slalemenl set out on page 9, the INStèÈs lyrflvj
are a150 the dlreciors of Ihe ¢h8rflablg company for the purtws of company E8w) are responsible for the
preparation of tha financlal statements and for bèing satisfied that they give a true and 18lr wew, arKI for
such internal control a8 thè busI￿S detem)inè 1$ nac8S$8ry to enatAg thè pr8paralion of financial
statements that are free from material misstatement. whether due lo fraud or error.
In preparing the financial slatements. the trustees are responsible for asses%ng the charitabl8 company's
abilty to tonlinue as a going concern. disclosirsg. as applicable, matters rekled to going concern and
sing the golng concem basis ol alzounting unless the trustees either intend lo litwi(lat6 the charitBble
company or to cew op&￿tionS, or.havg no r881isli¢ alt8¢native I￿t to dts so.
23

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF
THE CHARTERED CERTIFIED ACCQIJNTANTS, BENEVOLENTFUND
AudlloV$ rospon$lbllltlo8lorth• audlt pf tho flnanclal statements
Our obieotives are to obtain reasonable assurance ab)ut whether tha finan(#al st8t6ments a& 8 vthola are
free from materfal misstatemenl. ￿ether due to fraud or eTror. and lo issue an audilorfs rep)rt that
irwudes our opinion. Reasonablè assurance 1$ 8 high lev81 of assurance but is not a guarantee thth an
audit conducted in accordance wtlh ISAS IUKI will alwoyE dètact a matatlal misstat8ment wh8n It exlsts.
Mis5taterrrents can arise from fraud or error and are rI)nsIde￿d material if, indlvidually or In the aggregate.
they t￿￿1￿ reasonably be expected to Influen￿ the ecrmmic deuslons of users takpn on the basls of
thgso fin8ndal slalements.
A furtherdescrlptkjn of our responslbilltles for thè audit of the financial ststemerrts is located on the
Financial Reporting Council's wobsite at.. ww*.frc.org.uklaudilowesponsitxliti8s. This deSC*pl￿ fms
part of our awjitorfs rep(
Explanatlon as to what extent the audit was onyidered capable of detecting Irreg￿￿rItios.
Includlng fraud
lrr8gular1t￿. induding fraud. are instsrKes of non-com￿lence with laws and ragul8lion9. Wa d8sign
Pro￿UreS in Ilne wilh our responslbilitlos, outlinèd $bo￿, tts delèct material misstatements in respect (rf
Irregularities. induding fraud. Owing to the Inhetent limitations of audii, thwe is an unavoid8ble risk that
m8tÉrial misstaternents in the financial statements may not ￿ d8t8cl8d. even th0￿h lh8 audit is properly
planned and perlormed In actx*dan¢* the ISAS (UK).
The &xtentto our procedures até capable of dotediDg irr8gulatiti8s. induding fraud is d8tailgd
below.
We obtalnad an understanding of the legal and regulatory framewo￿$ that are applicBble to thè
charitabte LX)mpany through our genaral not for wofil 8nd cJ)arily sector 9X￿￿ent￿, dlscus8ions wlth
managament and the Inlemal leg81 ujunsel. We dèterniT￿ that the folbwing laws arml regulalK)ns
re most significanL' Charities SORP 2019, FRS 102 'The Financlal Rep￿Ing Standard applirti￿
tha UK and Republlc of Ir8land'. Ch8ritiès Act 2011, Charitie$ 8rKI Tru*ee Investmènt IsiJoUandl A¢t
2005, Chaiities Acetyjnls (Scoliandl Act 2006 (as amended). Comwios Act 2C¥)6, Data Prot￿m)n
Art 2018 And The thariuès (Prcrtectlon 8nd Social Investment) Act 2016.
We enqulrod of m8nag8m*tt ￿nG￿ning Ihe charitable Companys polKies Ènd procedures rdalNw to:
the idefttiffcatic￿. evaluation arKI oompliancè with laws and r8gulgtiDns:
the d&le¢th)n and responso to Iho risk of fr•Jd; and
the es&ibltshment of intsrn81 ¢￿tr￿S to mitigatg dsks Telaled to fraud or nOr￿com￿l3n¢8 laws
and regulatiMs.
We enquired ol management whether ihoy Iver& awar8 of any instarKe5 of I￿n¢0mplIance wilh ￿w$
and regulations and corroborated Ihe results of our enquirie$ trj rglèvant supporting dwumantation.
We assesw the susceptibility of the chaiitable companls financi81 stat8th8nls lo material
misstslement, induding how fraud might occur ar¥J the risk ol mar￿ement override of ￿ntrol$. ALNJIt
prowlures perfomiod by thg eNJ8gement team includgd:
Jentifying and assessing the Oesign effectlv¢ness of controls management has in Pla￿ to prevent
8nd del￿t fraud:
d)8118ngirwJ assumptiorts and Judgements mad8 by m8rt3yement In ils actounlng ostimAtes:
KIèntIf￿ng and tssting ff)umal 6rrtries, in partiojlar manual journal entri6s'
Th8 assw￿rnent of the aFpropriateness of th6 collective compètence and capabilili&s of thè
engagementteam included considoralion of the engagemént108m's:
understanding of. and practical expèJienc8 with, audit engagements of a sI￿L￿r nature ahd
compkxty through appropriate trainirwJ and part￿lp￿tIon.,
knovd8dg8 of th8 industry in vthich th& cliènt operat88' and
understanding of thè legal arKI reguL8tOty requirements speciffic to the enttty IndLKJlng, the
[rovi￿On$ of the appllc8ble leglslatk)n. the regulators Tul&s and related guidance. including
guidance issued by relevant authoritiès that interprets those rules and Ihe applilxble statutory
prowsK)n.
24

Docusign En¥ÈlopÈ ID." S32DD81>3B8￿4BCA-9EBQ-8cS9B9S538Fl
INDEPENDENf AUDITOR'S REPORT TO THE MÉMBERS AND TRUSTEES QF
THE CHARTERED CERTIFIED ACCOUNTANTS, BENEVOLENT ÈUND
Explanatl¢)n as to what axt•nl th• audlt was ¢onsldered capablè of det#ctlng IrrngulorlÈlo4
Includlng fraud (contlDY
Tha t8am communicabor)s in r8SP8cI of potenlk41 nonrycompfiance wth laws and rogulatKJns and fraud
induded Ihe polential forfraud in reveftue re¢tyJnibon, improper use of charitable fLmds and swboL
4ncid8nt reports submitt￿1 to th8 Chafities Commbs5*)n in the prioo.,
In assessing the potential risks of material misststement. we obtained an under8t8ndlng of:
the ch8rit•ble tr)Mpan￿S operatlons. including the nature of its revenue s¢jJ￿9S to understand I
dasses of transactKJns. account balan￿8, expected fin8n(a81 statement disclosures and business
risks th8t may revJJlt in ri8k of matsrlal misstatem¢nL and
the d)aritabl6 iy)mpanVs control enVirc￿menl including:
anagemenY$ knowlèdge of relevant kws and regulallons and how ￿ charitabte Company is
ccrfnplwng wth those law5 arvj regulations.,
thè ade4ua¢y of pr(￿dureS for aLthorisation of transa¢t'K)ns; aod
procedures to 8nsure that possib￿ brea(*Ès of law and wulatiorts are appropriately rnsolved.
U8• of our r•port
This report is made solely to the thaiitable compan￿$ members and trus1è85. a5 a body, in 8¢cordance
Regutation 10 of the Charities Accounts (Scotlandl Regulation5 2006. Sedon 4411 Ilcl of the
ChBfitiès and Trustée Investmwrt (S￿￿and) Act 2005 and Chapter 3 of Part 16 of the Companies Act
2006. Our audtl has t)een yndertaken so that we might stal6 to Iha chariiable compan15 members. .
and trustees Ihose matters we are requirpd lo stato lo Ihem In an auditor's report and for m olhèr
wry￿se. To the lulle51 extent permittèd by law. ￿ do not accept or assume rÈ$wbnsibilty lo anyone other
than the charitable comp8ny and ilg members and twslees as a b￿y. for our audit work, for thls rep￿1. or
f(w ihe OFNnion8 we have f(vmaJ.
Gwt LLP
Senk* st￿l￿Ory Audltor
f(* and on behalf of Grant Thtwnton UK LLP
Slatulory Auditor. Chartared N£countsnts
Blrmlngham
Date 30/9/2021
Grant Thcffnton UK LLP is 811&iblg to act as an auditLY in terms of sectkjn 1212 of the Companie5 Act 21J)6
25