In this month’s audit updates PwC picks up Aberdeen Asset Management as KPMG bows out and renews EasyJet contract, while the Charity Commission launches a financial investigation into accounting and financial governance at the Swimming Teachers’ Association
Charity Commission financial probe of Swimming Teachers’ Association
The Charity Commission has opened a statutory inquiry into the Swimming Teachers’ Association (STA) Ltd focusing on the charity’s governance, financial controls and a plan for organisational changes, which posed a potential risk to its assets.
The probe follows a serious incident report submitted by the charity’s trustees to the Commission in June, highlighting risk around a proposed reorganisation involving a transfer of charity assets and a trading arrangement with a newly formed private company.
The inquiry will look at the administration, governance and management of the charity by the trustees, including their oversight and involvement in recruitment and remuneration of the senior management.
