INTERNAL AUDIT REPORT FOR Wallingford Community Association Ltd (Centre 70) 1st August 2019-31°, July 2020 Completed: 12th November 2020 BY M Taylor INTERNAL AUDIT REPORT FOR Walllngford Community Association (Centre 701 Ltd 2020 Background This rewrt rewrds detail of the work undertaken for W811ingford Comrnunity Agsoci21ion Icentre 701 Ltd conntrating mainly on the charit*s intemal finanGial controls The aims ol internal financial controls are.. to protect Ihe charity s assets to identify and manage the risk of ¢onfllcts ol int•rosl, loss, waste, bribgry, thoft or frsud to ensure that rinancial reporting is robust and ol sufficient Quality to ensure that the trustees ¢iPlY wth charity law and regulation relatsng lo finan¢
Intorn•l Audll Approach In conducting Ihi$ revlew, I have paid due regard to the individual sudit trail of the charities tr8nsaetions from their original sources and SueptIbl1itY lo potential MI5cOrdIng or mi5repre5entalion in the final year end report. My recommendsti1)ns 8re to give assurance that the Charity's financial systems are robust and of sufficient quality. 1. Revlew of Ex endltUTe The obj8cliva is to ensure that the 8ccountsng records are tre(n9 rnaint4inod accuratèly and urrenlly Payments are supportèd by appropriate Llocurnenlalion, either in the form of an origlnal tr9do Invol or other appropriate fom ol document confirrning th9 paymènt as due andlor an acknowladgernent of reipt, whor8 no other forrn of invoice 15 avallablg", Having tested a samplo of payments from the perd ol August 2019 to July 2020, IndvIllu81lY and in ex¢es5 of £1,500 along with regular payments ol Direct Debits, tho samp19s be correct and in order. corresponding to the Bank Slalements accordingly. Each les19d 9ampIo nas been sioned for approval of payment and rnarked off when Complete All Expgndiiuro rgcor¢Yed maiched with both the Supplier InvThce 8nd payment madtr. Concluslons Dtsring my sampl8 testing I c8n conGlucle,' Iher& wwe hvo payments to C8stl8 Wat81 during the rnonth of Mardj 2020. (Noted,. dI¢t debil InCassd as of 30 March ?020) Also, I was unable lo locate an invoi¢e relating to wasle removal during the mcmlh of october 2079 frorn Grundon Wast8, olherbvise 18m pleaserl to tscord that no furthar Assues have been identifigd during this stage orvI$W. 2. Revlew of Ineorn• Wallingford Community Centre receives ineome fflainly from hiring of rooms and ntaI frorn parking 5pa¢es. Invol and Credit Notes sample testing- In this ar6a 8 Sfrquen check was completed to ensure Invoice and Credit Note numbers We issued and in order. Arithmetic check5 were also carried out and all invoices paid wherè Ghecked against the Bank Statement for completen6s5 of the transaction. Ouring my rnple testing for the qUired period,. Invoices were filed in sequenTr order and match concurrently with the Bank Stalernenl and Credit Notes have b6en issued 8rKI filed accoidingly. Oulsi8nding invoices had be8n actioned with reminders throughout the Iinancial year for paym8nl and filed ready for completion. Pet No petty Cash d0curynts were presented for review. Concltsslons
During my sample testing I can concludF,' Income was signrficantly (lUd thffjughoul th months ofApril-Juty 2020 due to COVID-19. olherwise l am pleased lo Cord ihat no Issufs h8ve been idenlrfied during this stag8 ofr8vi8W. 4. Revlew of Staff Salarles In examining the charily's p&yroll., Wallingford Community Centre has one member of staff, and aOdition81 covèr in place if absenTr occurs, whorn is paid at a raie OT £250 pèr monih. 11 Payments were made throughout tho peri(KJ via Cheque totalling £2,750. All ¢orfo8ponding wfth thé cheque book and Bank Slalement. on¢luslons Dunng my samp18 t8shng I can conclud8,' 18m ple6sed to reGord thai no issu95 hgvo bogn Idgnlifie(I during thls stage ol the rpview. 5. Invgstmentg COIF Accounts- The charity holds 4 accounts with COIF total assets recorded £59,122.74,. to conclude all accounts are now balanced to date in line with the financial yèar end 31.07.2020. Overall Conclusion l am pleased to GonGludE that. in Ihe oreès examined Ihe Chertty oper&tss an effectlvs system of controls tQ 8nsure all fin&n¢i81 transactions ar8 from material rnisstatemenl 8nd are recorded 1&ntIy.
Wallingford Community Association (Centre 70) Limited
Company no 10716203
Registered Charity No 271843
Income & Expenditure for year ending 31.7.2020
Current account balance 31.7.19 £73,215.35
Income Expenditure Rent £18,644.99 Donations (cleaner) £2,750.00 Parking £200.00 Pub utilities £4,332.95 Donations/grants 10525.00 Repairs/maint £1212.74 Fund raising £140.00 Insurance £1,791.32 Other £149.97 Sundries £3,280.69 Total Income £29,659.96 Total expenses £13,367.70
Excess of income over expenses is £16,292.26 (£29,659.96 less £13,367.70) Current balance at 31.7.20 - £89,507.61. Balance at 31.7.19 - £73,215.35
£73,215.35 plus this year’s profit of £16,292.26 = £89,507.61
Nuala Clements Director/Treasurer
Accounts examined by
COIF Accounts at 31.7.20
COIF Account No 881810001C £21,195.02 COIF Account No 881810001R £3,720,84 COIF Account No 881810002R £17,244.79 COIF Account No 881810001T £16,962.09
Total
£59,122.74
INTERNAL AUDIT REPORT FOR Wallingford Community Association Ltd (Centre 70) 1st August 2019-31°, July 2020 Completed: 12th November 2020 BY M Taylor INTERNAL AUDIT REPORT FOR Walllngford Community Association (Centre 701 Ltd 2020 Background This rewrt rewrds detail of the work undertaken for W811ingford Comrnunity Agsoci21ion Icentre 701 Ltd conntrating mainly on the charit*s intemal finanGial controls The aims ol internal financial controls are.. to protect Ihe charity s assets to identify and manage the risk of ¢onfllcts ol int•rosl, loss, waste, bribgry, thoft or frsud to ensure that rinancial reporting is robust and ol sufficient Quality to ensure that the trustees ¢iPlY wth charity law and regulation relatsng lo finan¢
Intorn•l Audll Approach In conducting Ihi$ revlew, I have paid due regard to the individual sudit trail of the charities tr8nsaetions from their original sources and SueptIbl1itY lo potential MI5cOrdIng or mi5repre5entalion in the final year end report. My recommendsti1)ns 8re to give assurance that the Charity's financial systems are robust and of sufficient quality. 1. Revlew of Ex endltUTe The obj8cliva is to ensure that the 8ccountsng records are tre(n9 rnaint4inod accuratèly and urrenlly Payments are supportèd by appropriate Llocurnenlalion, either in the form of an origlnal tr9do Invol or other appropriate fom ol document confirrning th9 paymènt as due andlor an acknowladgernent of reipt, whor8 no other forrn of invoice 15 avallablg", Having tested a samplo of payments from the perd ol August 2019 to July 2020, IndvIllu81lY and in ex¢es5 of £1,500 along with regular payments ol Direct Debits, tho samp19s be correct and in order. corresponding to the Bank Slalements accordingly. Each les19d 9ampIo nas been sioned for approval of payment and rnarked off when Complete All Expgndiiuro rgcor¢Yed maiched with both the Supplier InvThce 8nd payment madtr. Concluslons Dtsring my sampl8 testing I c8n conGlucle,' Iher& wwe hvo payments to C8stl8 Wat81 during the rnonth of Mardj 2020. (Noted,. dI¢t debil InCassd as of 30 March ?020) Also, I was unable lo locate an invoi¢e relating to wasle removal during the mcmlh of october 2079 frorn Grundon Wast8, olherbvise 18m pleaserl to tscord that no furthar Assues have been identifigd during this stage orvI$W. 2. Revlew of Ineorn• Wallingford Community Centre receives ineome fflainly from hiring of rooms and ntaI frorn parking 5pa¢es. Invol and Credit Notes sample testing- In this ar6a 8 Sfrquen check was completed to ensure Invoice and Credit Note numbers We issued and in order. Arithmetic check5 were also carried out and all invoices paid wherè Ghecked against the Bank Statement for completen6s5 of the transaction. Ouring my rnple testing for the qUired period,. Invoices were filed in sequenTr order and match concurrently with the Bank Stalernenl and Credit Notes have b6en issued 8rKI filed accoidingly. Oulsi8nding invoices had be8n actioned with reminders throughout the Iinancial year for paym8nl and filed ready for completion. Pet No petty Cash d0curynts were presented for review. Concltsslons
During my sample testing I can concludF,' Income was signrficantly (lUd thffjughoul th months ofApril-Juty 2020 due to COVID-19. olherwise l am pleased lo Cord ihat no Issufs h8ve been idenlrfied during this stag8 ofr8vi8W. 4. Revlew of Staff Salarles In examining the charily's p&yroll., Wallingford Community Centre has one member of staff, and aOdition81 covèr in place if absenTr occurs, whorn is paid at a raie OT £250 pèr monih. 11 Payments were made throughout tho peri(KJ via Cheque totalling £2,750. All ¢orfo8ponding wfth thé cheque book and Bank Slalement. on¢luslons Dunng my samp18 t8shng I can conclud8,' 18m ple6sed to reGord thai no issu95 hgvo bogn Idgnlifie(I during thls stage ol the rpview. 5. Invgstmentg COIF Accounts- The charity holds 4 accounts with COIF total assets recorded £59,122.74,. to conclude all accounts are now balanced to date in line with the financial yèar end 31.07.2020. Overall Conclusion l am pleased to GonGludE that. in Ihe oreès examined Ihe Chertty oper&tss an effectlvs system of controls tQ 8nsure all fin&n¢i81 transactions ar8 from material rnisstatemenl 8nd are recorded 1&ntIy.