AccountingandReporting-TheChurchofEngland.docVIP

ACCOUNTING AND REPORTING REGULATIONS FOR ENGLISH ANGLICAN CATHEDRALS prepared by the CATHEDRALS ADMINISTRATION AND FINANCE ASSOCIATION in conjunction with the ASSOCIATION OF ENGLISH CATHEDRALS and specified by the CHURCH COMMISSIONERS under Section 27 of the Cathedrals Measure 1999 November 2006 Copies of these regulations may be obtained from the Church Commissioners’ Intranet or the Financial Planning Department Church Commissioners Church House Great Smith Street London SW1P 3NZ A small charge may be levied.Contents Regulations Page 1 Introduction 1.1 Statement by the Church Commissioners 6 1.2 Preface 7 The regulations, a true and fair view and the relationship with other pronouncements 8 Key to abbreviations used 9 2 General Materiality 10 Content and purposes of the report and accounts prepared under these regulations 10 Users of the report and accounts 10 Summary accounts 11 Comparative figures 11 Funds 11 Audit 11 Approval 12 Publication 12 Entities to be included in a cathedrals consolidated accounts 3.1 General 13 3.2 Aggregation into a cathedrals entity only accounts 13 3.3 Consolidation 13 3.4 Tests for aggregation and consolidation 13 3.5 Control 14 3.6 Methods of accounting for entities controlled by the Chapter 14 Page 3.7 Non-coterminous year ends of entities included in a cathedrals consolidated accounts 16 3.8 Entities not controlled by the cathedral 17 3.9 Supplementary information 17 3.10 Choir school 18 Annual Report General 19 4.2 Legal and administrative information 19 4.3 Structure, governance and management 19 4.4 Objectives 21 4.5 Activities, achievements and performance 21 4.6 Financial review 22 Plans for future periods 24 5