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June 2010, Issue 74

"To business that we love we rise betime,
And go to’t with delight"

William Shakespeare (c1564 -c1616),
Antony and Cleopatra, Act 4 Scene 4

 

CONTENT by Gareth Burton and Terri Jarvis

What will the next 3 months bring for you and the England football team from 12 June when England are playing their first match of the 2010 World Cup against the USA?

Here’s an idea how June, the first month, might work out.

Just as the love of business expressed by Shakespeare gets us up with delight, in June we feel the future ahead is bright when England’s games and our pension audit are at the Planning stage.

We have probably forgotten England’s shortcomings and that last year’s audit failed to meet expectations. But did we learn the lesson from last year’s audit or England’s last World Cup? If not here are 3 tips to audit success to make sure you get what you want from your pension’s audit:

  1. Hold an Audit Planning meeting
  2. Agree an Audit Timetable
  3. Decide on the key Audit risks to focus on

To help you love doing business and love your pension audit, take a look at these downloads provided at no cost to you:

Ash Shaw’s “Ten Common Pitfalls found in Pension Scheme Accounts
Law Debenture’s “Essentials Guide
Still Waters’ “10 tips to better teamwork

If you would like a hard copy sent to you or have any queries, please contact one of your Ash Shaw team or email Sally Tasker.

Our May newsletter was held back to bring you the STOP PRESS news that Ash Shaw are the winners of the 2010 Pension Investment Provider Awards, organised by the FT, Pensions Week and Pensions Management for best accountant.

Performance, Innovation, Service standards and Competitive edge were the key criteria used by the judges to place Ash Shaw ahead of some tough competition.

To quote Pensions Week: “Applauded by the judges for winning much of its business by recommendation. It also won favour for its focus on reducing client costs over the course of 2009.”

Our office - just a short walk from the previous 211 Piccadilly address. Our new building will have better facilities such as larger meeting rooms and we look forward to meeting you there sometime.

Our telephone number remains the same 020 7917 2987 as does the postcode W1J 9HF, but it would be helpful if you could update your address book to Ash Shaw LLP, 180 Piccadilly, London W1J 9HF.

If you have any questions, please make a call to one of us in the Ash Shaw team or email Sally Tasker

HMRC are sending “Notice to produce audited accounts” emails to some of our clients. This means pension scheme accounts will need to be available a bit before the seven month deadline to ensure that a copy can be filed with HMRC by the seven month deadline. We suggest you work with your auditors to build some slack into your scheme timetable to avoid the stress of HMRC delivery date getting too close to the wire.

If you have any spare £20 notes with the portrait of Sir Edward Elgar you might want to spend them quickly, make a bet on a World Cup winner or take them to a bank because from 30 June 2010 they will be withdrawn from circulation.

This means from 1 July, Elgar £20 notes will no longer be valid legal tender and it is at the discretion of your bank, building society and Post Office whether to accept your Elgar £20 notes for deposit to customer accounts and for other transactions. Shops will most likely be reluctant to accept them.

The Bank of England does exchange its old notes, however. Notes may be presented for payment either in person at the Bank of England, or sent by post (at the sender's risk) to: Dept NEX, Bank of England, Threadneedle Street, London EC2R 8AH. A picture of the Elgar £20 note can be found on the Bank of England website.

Thank you to Brian Harris of HLS Financial Management for drawing this to our attention.

Are you interested in training for a career in audit and do you have a passion for excellent customer service? Ash Shaw has a vacancy for a Trainee Accountant.

We are looking for a Trainee Accountant who wants a career in audit with a passion for excellent customer service.

Candidates should be educated to at least A-level standard or equivalent with numeracy as a component of their studies. Candidates should also have excellent interpersonal and people management skills and the ability to work well in a team. There is also a need to be highly organised and resilient under pressure, demonstrating an open and positive approach to work.

Our ideal candidate would also have demonstrated that they are keen to have a career in accountancy and they would have some practical experience of accounting although this is not essential.
In return Ash Shaw is offering a competitive salary package of £14,750 and the opportunity to work with an award winning Firm of Pension Scheme Auditors and Accountants.

The role is based in Chatham, Kent, but you must be prepared to travel. Our main client base is currently in and around the M25 (south).

If you are interested and would like to find out more about this opportunity please contact Terri Jarvis for an informal discussion. We are asking candidates to apply by sending their CV to Kirsty Mitchell and the closing date for the role is 30th June 2010.

To help us help you more swiftly, please send us a brief description of your situation (or a copy of last year's signed accounts if you are looking for new auditors) to Sally Tasker and let us know when would be a convenient time to call you.

If someone else has sent you this web link, why not make sure you get your own copy in future? Sign up to Ash Shaw's free monthly email newsletters and receive the latest information, news, ideas and advice. Focused on small- and medium sized pension schemes, these mailings tell exactly what you need to know, without wasting your valuable time. Sign up now.

 

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Time for a change?

Do you feel we can improve our service to you? We take client service very seriously. In fact, in the last three years our biggest improvements have been a result of your comments and suggestions, so please take a moment to let us know your likes and dislikes. We aim to provide a hassle free service, delivered by proven specialists who will work with you for a number of years. If we can make our service better, at an affordable cost, we will do so. If you can imagine a better way, let's hear your thoughts.

New to Ash Shaw?

Arrange for a client service partner contact you about your needs. Call 020 7917 2987 or email Sally Tasker for details.

Looking for a speaker?

Gareth Burton, Terri Jarvis and Andrew Riley are popular speakers at events and workshops and are occasionally available for in-house training/reviews. Popular topics currently include: how to improve the audit process, how to apply the new SORP to Annual Reports, getting more effective investment manager disclosure in Annual Reports, and obtaining an AAF01/06 cost effectively.

To book one of them to speak at your event, email Sally Tasker .

Join us on Linked In

If you haven't yet received an invitation, click the link to join our Linked In group.

Heard at focus groups

Below are comments that have been heard by our team at focus groups, conferences and trustee meetings and often make very interesting reading:

“How many pension auditors do you see at work with fire in their bellies?”

“It’s far easier to have confidence in auditors when they are organised and consistent.”

“Who can recommend me some auditors that would take more notice of our pension administrator’s internal controls?”

What are your views on these comments?

June Coffee Break Quiz

This month you can win one of our Wow! coffee mugs by being the first name drawn out of a hat of correct entries. As June is World Cup month our coffee mug prize will come filled with chocolate footballs:

England’s first match of the 2010 World Cup on 12 June is:
a) England v Algeria
b) England v Slovenia
c) England v USA
d) England v Denmark

Please email Sally Tasker and see if you are that lucky person!

Last month’s correct answer was “1913 was the first year that the Chelsea Flower Show.”

Thank you to Zahir Fazal of BESTrustees for selecting the winner.

You ask the questions, we'll get the answers

If you feel that there's something else you would like to see in the newsletter or if you have a burning question, why don't you ask Ash Shaw? We'll find the answer and publish the best one in next month's newsletter.


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Copyright 2009 all rights reserved.
You may copy or distribute this newsletter as long as this copyright notice and full information about contacting the author are attached. The authors are: Gareth Burton and Terri Jarvis of Ash Shaw. Contact Kate Barlow or Tel: 020 7917 2987, Fax: 020 7917 2988.
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