Clubs Manual

• Guidance notes that provide you with essential background knowledge on the key aspects of clubs. They cover the relevant legal framework within which clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974 operate, including the Financial Conduct Authority (FCA), and how to approach an audit, reporting accountant or totally exempt assignment for a club.
• Example engagement letters for audit, reporting accountant and totally exempt clubs that are registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974. There is also an example letter of representation.
• Example audit, reporting accountant's and totally exempt reports for clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974.
• Example pro-forma accounts for a club registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974.
• Accounts disclosure checklists for the legal and FCA specific disclosures relevant to clubs registered under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974. FRS 102 and FRS 102 Section 1A disclosure checklists are also included.
• Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an audit or reporting accountant assignment over a number of years.
• Clubs specific current file documentation comprising of two separate packs of documentation for audit and non-audit assignments. The audit documentation provides you with the planning, completion and detailed work programmes needed to undertake an audit. Lead schedules and a current file index are also included. The non-audit documentation provides you with the planning, completion and work programmes needed to provide a reporting accountant's or simple accountant's report on club accounts.
• Supplementary forms that provide additional resources that may be useful for certain scenarios. 

February 2025
The principal technical changes in this update include:

• Enhancements to example letters.

July 2024  
The principal technical changes in this update include:

• Revisions in accordance with the FRC's Revised Ethical Standard;
• Changes to ISA 505 External Confirmations; and
• Best practice amendments.  

April 2024
The principal technical changes in this update include:

• Removal of content for periods commencing before 15 December 2021 as this is no longer relevant;
• Update of disclosure checklists for recent minor changes in accounting standards; and
• Best practice amendments.

Exciting new feature
We have also developed tailoring and customisation tools to help you filter out the irrelevant parts of the Accounts disclosure checklist through a series of questions. These are available in the 'Customise' screen within the menu on the right.

By selecting 'Yes' to the question 'Would you like to tailor your accounts disclosure checklist through a series of questions?', you will then be asked a series of questions. Answering these subsequent questions will filter down the disclosure checklist so that only the sections you require will be shown / included within the checklist downloaded. 

December 2023
The principal technical changes in this update include:

• The introduction of a new (optional) statistical sampling approach - A new (optional) statistical sampling approach has been added to sit alongside the extant judgemental sampling approach; and
• The restructuring of the guidance notes - The guidance notes have been restructured to make them more user-friendly and to ensure a consistent approach to guidance notes across Mercia’s suite of products.

March 2023
The principal technical changes in this update include the removal of content relating to the now superseded ISQCs and consequential amendments arising as a result of this.

In addition, a number of minor amendments / improvements have been made to other sections of the package, including updating engagement letters to reflect latest guidance.

July 2022
This major update to the methodology principally incorporates:

• ISA (UK) 315 (Revised July 2020) Identifying and assessing the risks of material misstatement;
• ISA (UK) 240 (Revised May 2021) The auditor’s responsibilities relating to fraud in an audit of financial statement; and
• Consequential amendments as a result of the new quality management standards.

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Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email. 

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System Requirements

Internet access. 

Operating System: Windows, Mac IOS. 

Applications: Full version of Microsoft Office or Mac equivalent, PDF Reader.