2.3.5.2 IC reporting, Section 404, Charities Act 2006 requirements Section 404 of the Act (Charities Act 2006) requires annual reports to contain an internal control (IC) reports emphasising the responsibility of management for establishing and maintaining adequate IC over financial reporting. In addition, the annual reports should contain an assessment of the effectiveness of the IC over financial reporting. It is a requirement to aid external auditors to report on this assessment, having carried out independent testing of the control system. Appendix 4 (Table 4 and 4.1) summarises the existing charity reporting and accounting requirements set out by the CC. Appendix 7 in a Flowchart: Eligibility requirements for independent examination. The Tables consist of details of the charity size and the reporting requirements for the filing of its annual accounts and reports. If adhered to by the various charities in their respective group will help in improving reporting within the sector. 2.3.5.3 Effect of Internal Control Deficiencies Expressly, poor internal controls cause an …show more content…
The effective use of IA departments causes less dependency and or reliance on external auditing. Ineffective use of this department can create reliability of the external audit firm, high costs for use of their services. Ideally, effective auditing should be done twice a year, consist of a short period of attendance; whereas, if it is possible for charities to have an internal auditing department, auditing will be carried out as often as every three months and the likelihood of any mismanagement of funds will be greatly reduced and this lead to gradual abolition. For effective IFC practices, various functions should be implemented to address each area so that effective operations are in place and at the same time reduce
Many people could be affected if staff did not ffollow regulations, an outbreak of food poisoning could occur and this would affect the service, people we support, staff and visitors and they could become very ill with diagnoses of sickness, diarrhea, which could lead to being admitted to hospital and have further complications as well as be less able to fight off infections, or be vulnerable due to their age/lifestyle/circumstances. This could also affect people in an emotional way. For example stress and worry. Some staff may want to stay off work as they would be worried they will catch an illness and this would affect the service staffing levels. Family and friends would be angry, worried and may not be able to visit. Reputation of the
M1- Discuss how policies and procedures help children, young people and their families whilst the child is being looked after.
There are many things which can affect access to complementary therapies. The ones I will be explaining are:
A health service is a service that provides care and is under the NHS. For examples hospitals or a G.P. They provide treatments but also prevent illnesses through health promotions. A social care service is about providing support to individuals to help them get by and who ever needs it such as emotional support or practical support with daily living tasks.
Reporting of Injuries,Diseases and dangerous occurrences regulations of 1995 requires the reporting of work-related accidents, diseases and dangerous occurrences. The Act applies to all work related activities, but not to all work related incidents. The objective of the regulations is to enable the enforcing authorities to identify where and how risks arise and to investigate serious accidents so as to prevent them from occurring in the future and thus providing a safer work environment. The enforcing authorities can then help and advise you on preventive action to reduce injury, ill health and accidental loss,the main points of our own policy that relate to this are:
No Secrets – Guidance published by the Department of Health, builds upon the governments respects for human rights and highlights the need to protect vulnerable adults through effective multi-agency work.
Schedule 8 drugs are medications that are considered to contain substances that may produce addiction or dependence; they are available for use but require restrictions on possession and use to reduce abuse and misuse (Koutoukidis, Stainton, Hughson, 2013, p 436).The Drugs and Poisons Act specifies the storage requirements for controlled drugs that apply to providers (Drugs and Poisons Act 1996, p 115). This specification applies to patients/residents receiving high-level care and the patient or resident has been supplied S8 controlled medicines on a prescription or medication order. All medications in a residential facility or on a hospital ward are required to be kept in a locked cupboard. The Drugs and Poisons Act is very specific on the requirements such as; constructed of steel 10 millimetres thick; fitted
A2 Health & Social Care – essay on the provision of care in the UK
In this assignment, I hope to receive a deeper understanding about Down syndrome and to understand that people with Down syndrome are people with abilities, strengths and weaknesses like everyone else. Firstly I will gather information from texts, internet, voluntary and statutory organisation involved in providing care for this client group. Throughout this assignment, I aim to examine a range of specific client groups to include children, adolescents, adults and older people and those with special needs. I will discuss the care in the community, the needs of the individuals with Down syndrome to include their physical, emotional, social and intellectual needs and identify how those needs are provided. I will also summarise the role of care
International Standard on Auditing (ISAs) is defined as “professional standards that deal with the independent auditor’s responsibilities when conducting an audit of financial statements”. All these standards are issued by International Federation of Accountants (IFAC) through the International Auditing and Assurance Standards Board (IAASB). The ISAs include requirements and objectives along with application and other explanatory material. The auditor must have knowledge about the whole text of an ISA, its application and other explanatory material to be aware of the objective and to apply the requirements.
The core role of internal audit functions is to assist the Board and Executive Management to protect the assets, sustainability and reputation of the organisation. Internal audit functions should execute this role by assessing whether all significant risks are identified, controlled and appropriately reported. They have the responsibility to provide objective, relevant assurance and challenge the effectiveness of governance, risk management and internal control activities within the organisation (Chartered Institute of Internal Auditors, 2014: 1). The Internal Audit Standards require internal audit functions to evaluate the effectiveness of risk management processes and contribute to the improvement of these processes (IIA, 2012: 11 – 12; IIA, 2013a: 1 – 2).
The King Report lays out the importance of internal auditors in the area of governance. Auditors need to be provided with guidance for the conduct of internal auditing and this guidance is provided by through the International Standards for the Professional Practice of Internal Auditing. The standards provide basic principles that represent the practice of internal auditing, provide a framework for performing audit activities, establish the basis for the evaluation of internal audit performance and lastly serve to improve organisational processes and operations. The standards are divided into attribute standards which describe the characteristics of the Internal Audit Activity and the Internal Auditor and performance standards which describe the Internal Audit Services. Standard 2100 refers to
The Institute of Internal auditors (IIA) defines the internal auditing as follows: “Internal auditing is an independent, objective assurance and consulting activity design to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance process” (Burnaby and Hass 2011). Internal auditing has the obligation to provide the board of directors, the audit committee, the CEO and CFO, and stakeholders with an independent report on whether the corporation are under effectiveness internal control, whether the corporation under appropriate risk, and whether corporation operating and governance meet the established goal.
However, to qualify as an auditor, one must be a member of the institute of Chartered Accountants as defined under the Chartered Accountants Act 1963 (170) and must not have been disqualified from acting as an auditor by any legislative instrument by the registrar. An auditor, therefore, is a person who reports on the accounts of an organization or enterprise. Nevertheless; there are two types of audit, namely Internal and External audit. But for the purpose of our study; we would want to concentrate much on internal audit.
In Ireland, the Irish Auditing and Accounting Supervisory Authority (IAASA) was set up conformity to the provisions of Part 2 of the Companies (Auditing and Accounting) Act, 2003 (the Act). IAASA’s objectives under section 8 of the Act include the supervision of how the recognized accounting organizations control and monitor their members and the promotion compliance to high professional standards in the auditing and accounting profession