Supervision Standard – Summer 2024

Supporting documents/bank statements

All supporting documents, invoices and bank statements should be uploaded to BASYS with the submitted account.

AiB is unable to determine outlays without the supporting evidence and therefore any outlays without the supporting documentation will be disallowed.

These may be claimed in a subsequent period once the supporting evidence is available. 

Bank statements for the full period should also be uploaded to allow the accounts team to verify all the transactions in the period.

Please note that failure to provide such documents could result in the account being returned unaudited.

Audit observations

Any audit observations raised on an account should be answered by the trustee within four weeks.

Requirements of a detailed SIP9

When submitting an account on BASYS, please be mindful of the requirement to provide a detailed timesheet (SIP9)/case files with certain remuneration claims.

It would be helpful if these could be provided in excel format and at the time of account submission. Please note that a detailed SIP9 can be requested by the auditor at any time.

A detailed SIP9 is required for all remuneration claims between £10,000 and £14,999.99 over a 12-month period or pro rata.

A detailed SIP9 and the trustee’s case files are required for all remuneration claims of £15,000 or more over a 12-month period or pro rata.

On submission of the account, a large claim letter will generate within the documents section of the account and trustees should ensure (if not already supplied), that the requested information is provided within seven days.

If trustees are unable to provide the content within this timescale, please contact the Bankruptcy Accounts team immediately.

Requirements of a detailed SIP9 are as follows:

• date a task was carried out
• length of time taken to carry out the task
• member of staff who completed the task including grade
• amount charged for each time entry
• charge out rate for the grade of staff
• a description of the actual work carried out for each entry (this should be proportionate to the time charged). Please ensure that the narrative is as descriptive as possible

Change of trustee due to a commercial agreement

If there has been a change of trustee on a case that is due to a commercial agreement, a detailed SIP9 must be provided with your next account. 

This will allow AiB to make sure no time has been charged in relation to the transfer of trustee. Any outlays incurred due to the transfer will also be disallowed.