Our Societies and Community Interest Companies Manual provides you with supplementary current and permanent file programmes that consider the specialist aspects of Registered (previously 'Industrial and Provident'), Co-operative, Community Benefit or Friendly Society* assignments, as well as Community Interest Companies (CICs).
Reporting accountant assignments are covered by the manual. For audit assignments, this manual is designed to be used in conjunction with another appropriate 'true and fair' audit manual depending on the activities of the society, or, for CICS, your limited companies audit manual.
The manual includes:
- accounts disclosure checklists for societies in accordance with legal, including the Co-operative and Community Benefit Societies Act 2014, and Financial Conduct Authority requirements;
- guidance notes that summarise the current legal accounting, auditing and reporting requirements for societies and CICs.
*Please note that this manual does not cover Credit Unions, nor Friendly Societies subject to the audit and accounts requirements of the Friendly Societies Act 1992.
For societies that are Clubs or Registered Social Housing Providers, our Clubs and Registered Social Housing Providers Manuals should be used.
Our Societies and CICs Manual can be browsed online or sections of content or commentary can be downloaded in Microsoft word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
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*Prices are for a firm-wide 12 month subscription, prices exclude VAT.
Manual Details
Content
Guidance notes that provide you with essential background knowledge on the registered (previously 'industrial and provident') co-operative, community benefit and friendly societies sector. These cover the key aspects of the accounting, reporting and Financial Conduct Authority registration requirements for societies registered under the Co-operative and Community Benefit Societies Act 2014 (CCBSA14) or registered under, and subject to the audit and accounts requirements of, the Friendly Societies Act 1974. The guidance notes also cover the additional specialist aspects and key features of Community Interest Companies (CICs).
- Example engagement letters for societies for audit, reporting accountant and totally exempt assignments.
- Example auditor's and reporting accountant's reports for societies registered under the CCBSA14 or registered under, and subject to the audit and accounts requirements of, the Friendly Societies Act 1974.
- Accounts disclosure checklists for societies that cover the requirements of the CCBSA14 or the Friendly Societies Act 1974 and a separate accounts disclosure checklist for FRS 102 Section 1A. For CICs there is a disclosure checklist for form CIC34 - the CIC report.
- Supplementary permanent file documentation to help ensure that permanent files contain adequate additional specialist information.
- Supplementary current file documentation to help ensure that current files consider the additional specialist legal requirements relating to the CCBSA14, the Friendly Societies Act 1974 and for CICs. The supplementary planning, completion and work programme included must be used in accordance with with another appropriate 'true and fair' audit manual depending on the activities of the society, or, for CICS, your limited companies 'true and fair' audit manual. Planning, completion and a work programme for a reporting accountant's assignment is also included for societies and supplementary non-audit documentation is included for CICs.
Latest Update
September 2025
The principal technical changes in this update include changes to the Engagement terms of business to include use of artificial intelligence (AI) and other best practice amendments.
May 2024
The principal technical change in this update includes an update of disclosure checklists for recent minor changes in accounting standards.
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 restructuring of the guidance notes.
Terms & Conditions
Pricing
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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.
Technical Queries
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