FEDERAL ELECTORAL DISTRICT ASSOCIATIONS Requirements before engagement:
The Financial Agent has done or will do or agrees to the following:Engagement Process:
- Open an Electoral District Association (EDA) bank account, according to requirements as set out in the Canada Elections Act, which provides the following
- Monthly bank statements.
- Bank statements include images of cancelled cheques (cancelled cheques are those cheques that are issued to make payment and clear your bank account).
- Online account access.
- Detailed disbursement e-transfer reports and records that identify date of transaction, amount of disbursement, payee name and payee email address for each transaction.
- Account transaction download files in *.csv format.
- If using an online merchant banker (Paypal, Square, Moneris etc.) or intermediate service provider (Stripe, Nationbuilder etc.) to process and manage electronic contributions, this service must provide detailed reports identifying transactions (transaction dates; deposit, fees, transfer amounts, corrections, etc.).
- Use Elections Canada EFR software to issue official receipts.
- Provide to Chaplin & Co. a completed electronic copy of the EFR software database file (located on clients computer).
- Provide Completed MS Excel Spreadsheets (templates provided by Chaplin & Co.) which record details of;
- Bank account transactions (deposits and disbursements with income and expense allocations).
- Fundraising Events.
- Sign Inventory (old from previous election) sent to (non-monetary transfer (if any)) and used by the campaign (in a general election year or if a by-election occurred).
- Sign Inventory remaining at the end of the a candidates campaign transferred to the EDA (in a general election year or if a by-election occurred).
- Any pre-paid campaign expenses not invoiced to and paid for by the campaign but used by the candidates campaign (in a general election year or if a by-election occurred).
- EDA payables as at year end (December 31).
- Organize and provide all expense documentation (invoices / purchases receipts / contracts / agreements) according to a voucher system. Generally explained, expense documentation (invoices) etc. are organized according to the order of disbursement transactions as reported on the bank statements. A voucher page, which summarizes the expense(s) that occurred on a specific date is stapled on top of all supporting expense documentation (invoices etc.).
- Make and keep photocopies ( or scanned electronic files ) of all cheques deposited into the campaign bank account. For combined deposits, where more than one cheque is deposited at one time, all cheque photocopies or scanned images are grouped together.
- Provide all required documentation for audit to Chaplin & Co. for audit by February 20 of the year subsequent to the year of the audit (for example, for an audit of the 2022 EDA financial transaction return the documentation must be received by February 20, 2023), in order to guarantee meeting the filing deadline.
- In order for Chaplin &Co. Chartered Accountants to become your campaign auditor an agreement must be signed by you. The agreement in this case is called an Engagement. If you meet and agree with the requirements noted above and would like Chaplin & Co. Chartered Accountants to become your appointed campaign auditor you will need to complete and submit the engagement request form. Chaplin & Co. Chartered Accountants will be in touch with you shortly after your submission to discuss the possibility of working as your campaign auditor.