A qualified accountant certifies that the annual accounts indicate the service is financially viable and likely to have sufficient funding to continue to fulfil its Statement of Purpose for the next 12 months.
STANDARD 20 - Financial viability and changes affecting business continuity
(Adoption Agencies,
Adoption Support Agencies)
Underpinning Legislation
The Voluntary Adoption Agencies and the Adoption Agencies (Miscellaneous Amendments) Regulations 2003:
The Adoption Support Agencies (England) and Adoption Agencies (Miscellaneous Amendments) Regulations 2005:
Outcome
- The Voluntary Adoption Agency/Adoption Support Agency is financially sound.
20.1
20.2
The adoption agency/adoption support agency has a written development plan, reviewed annually, for the future of the agency, either identifying any planned changes in the operation or resources of the agency, or confirming the continuation of the agency’s current operation and resourcing.
20.3
Where the agency, for any reason, cannot adequately and consistently maintain its services which comply with regulations or NMS, an effective plan must be established and implemented either to rectify the situation or to close down the service.