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SHA/PCT Financial Close Project. Instructions for Receiver Organisations – Quick reference guide Department of Health December 2013. High level principles for receiver acceptance balances. Can query allocation of balance but not value. Cannot reject non substantive unsupported balances.
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SHA/PCT Financial Close Project • Instructions for Receiver Organisations – Quick reference guide • Department of Health • December 2013
High level principles for receiver acceptance balances Can query allocation of balance but not value Cannot reject non substantive unsupported balances Receiver acceptance of balances Cannot reject on grounds of: misstatement, negative impact on performance or requires cash payment Incorrect allocation can be reallocated only if substantive
Working Papers – What you need to consider and check When agreeing balances in Detailed Transaction Form outputs to supporting working papers receivers should consider the following. • Do the balances recorded as having transferred to my organisation per the Detailed Transactions Form output files appear complete? • Is there sufficient information in the form outputs about each balance to allow identification of relevant working papers? • Has a working paper been provided for each asset or liability allocated to my organisation? • Does the balance appear valid and in compliance with accounting standards and your organisation’s accounting policies? • Does the amount in the working paper equal the amount in the form output? • Is the working paper clear and detailed to enable the nature of the balance to be understood and managed going forwards; and to withstand audit scrutiny? • Based on your review of working papers, do all balances allocated to your organisation relate to your organisation? • Does the balance transferred to your organisation create a need to reassess the nature or value of the balance or to create new balances? • Does the balance transferred to your organisation suggest there may be an associated disclosure note impact you need to calculate?
Action to take if balances have been incorrectly allocated Is the issue substantive? YES NO Identify correct receiver with reference to DH guidance & Property Transfer Scheme Accept balance Discuss and obtain mutual agreement with the potential new receiver that the balance should be transferred. Initial receiver accounts for balance in Month 9 accounts Official legacy balances reallocation process takes place January 2014.
