Charity Commission says no money went missing from the Institute of Brewing and Distilling

The regulator publishes an operational compliance case report into the charity after it submitted a serious incident report regarding a mis-statement in its previous years' accounts

Institute of Brewing and Distilling
Institute of Brewing and Distilling

The Charity Commission has said it is confident that no money has gone missing at an education and training charity that overstated prior year surpluses by £364,149.

The commission published an operational compliance case report into the Institute of Brewing and Distilling on Friday.

The institute has the object of advancing public education in the sciences of brewing, distilling and fermentation, and had income of £1.65m in 2012 and £1.75m in 2011.

In November 2012, the charity submitted a serious incident report to the commission informing the regulator of the mis-statement in previous years’ accounts, accompanied by a detailed report from its auditors.

Concerns were also raised separately with the commission by an individual "who alleged that there had been fraud and money laundering totalling several millions of pounds", the commission’s report says.

The commission launched an operational compliance case into the matter, while the charity’s auditors continued to look into the matter.

In September 2013, the auditors "confirmed that their review had found no evidence of fraud or theft, just poor accounting", according to the report.

In the course of the inquiries, the commission said it processed more than 10,000 bank statement entries, cross-checking payments against financial records, and concluded that there was no evidence of fraud or theft, or of money laundering.

The report says: "The charity’s trustees have undertaken a full overhaul of the charity’s financial management and record-keeping and we are satisfied that the systems now in place are adequate. The trustees must continue to monitor the implementation of these systems and review them regularly to ensure they remain fit for purpose."

A spokesman for the charity said: "The IBD trustees were very pleased with the manner in which the examination and review was carried out by the Charity Commission and that the commission’s findings reflect the positive action taken by the trustees."

Sam Burne James recommends

Charity Commission

Read more

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus