COIF Charity Funds - CCLA

COIF Charities Deposit FundStatement of Trustees and Manager ResponsibilitiesThe Trustees of the COIF Charities Deposit Fundare required by the Scheme of the CharityCommissioners made under the Charities Act1993, dated 27 June 1995, to prepare accountsin accordance with any rules, regulations orstandards of practice issued by the Secretary ofState or the Charity Commissioners affecting thekeeping of accounts of common deposit funds.The Trustees are required to: select suitable accounting policies that areappropriate for the Fund and apply them ona consistent basis;follow generally accepted accountingprinciples and applicable accountingstandards;keep proper accounting records whichenable them to demonstrate that theaccounts, as prepared, comply with theabove requirements;make judgements and estimates that arereasonable and prudent; prepare the accounts on the basis that theFund will continue in operation unless it isinappropriate to presume this.The Trustees have delegated to the Managerthe day-to-day management, accounting andadministration of the Fund as permitted by theScheme.The Manager is required to manage the Fund inaccordance with the Scheme and take reasonablesteps for the prevention and detection of fraudand other irregularities.58