IFA recognition: members in Scotland and Charities Independent Examinations
As you will be aware from our previous communication to you, the IFA has been in communication with the Scottish government for the last three years to request that that members of the IFA (Associate member (AFA) and Fellow Member (FFA)) be eligible to undertake independent examinations for charities in Scotland which prepare fully accrued accounts with gross income above £250,000.
We made a formal submission to the government and we are delighted to inform you that the Charities Accounts (Scotland) Regulations 2006 (b) have been amended to add the Institute of Financial Accountants to the list of organisations whose members are allowed to undertake independent examinations of charities’ fully accrued accounts. This amendment is effective from 3 November 2017. Further information on the legislation change is available at http://www.legislation.gov.uk/ssi/2017/284/contents/made