Pentana Checker for Company Accounts

Pentana has developed the COACTS Checklist to be used by experienced accountants as a reminder of areas to consider when checking that entity accounts comply with required disclosures.  This Checklist includes UK accounting standards. There is a separate Checklist available for International Standards.

Apart from UK Companies Act and UK Accounting Standards, COACTS includes:

2007 Reporting Statement Retirement Benefits Disclosures, APB Bulletin 2009/1, Audit 1/03,Tech 06/06, SI 2009/1581, FRS 30, UITF 46, FRRP 76, AIM Rules issued February 2010, Listing Rules as amended in September 2009 and the FRSSE’s including FRSSE 2008 (effective 6 April 2008 – with no early adoption permitted).

It deals with the following Statements of Recommended Practice:

• For charities it includes the Charities SORP 2005 and the related English 2008 Regulations (these Regulations apply only for years starting on or after 1 April 2008), and for Scotland the related 2006 Regulations;
• For investment trusts it includes the AITC SORP (2005) and the AIC (2009) SORP (which also has Venture Capital Trusts in its scope)
• It also deals with the 2008 SORP for Registered Social Landlords, 1996 Housing Act, The 2006 General Determinations, Welsh 2000 Determination, Northern Ireland 1993 Order and the Scottish 2007 Accounting Order
• For Limited Liability Partnerships it includes the LLP SORPs (2006) &2010. The latter is effective for accounting periods that begin on or after 1 January 2010. It can generally be adopted early, but amendments for FRS 25 cannot be adopted for accounting periods beginning earlier than 1 January 2009
• For further education institutions it includes the HE&FE SORP (Statement of Recommended Practice: Accounting for Further and Higher Education Institutions, 2003 and 2007 versions); Learning and Skills Council Accounts Direction. Handbook 2008/09; Learning and Skills Council Circular 04/04, ELWa Accounts Direction for 2003-04, Scottish Further Education Account
• The checklist does not deal with Listing Rule and Disclosure and Transparency Rules requirements for entities that are not incorporated in the United Kingdom. They should instead consult the Listing Rules and Disclosure and Transparency Rules directly
• All 'detailed' questions which have been answered 'No' will be flagged as problems for easy identification and manager review. Problem answers are marked with a red exclamation mark

Pentana offer a 30 day money back guarantee on our checklists.