Page 38 - AGM Pamphlet 2021

Conclusion
Whilst there was a surplus of £106,943 at year end against 2020 spending, this is noted
against the underspend as a result of Covid 19 in areas such as annual conference,
external events, marketing and PR. It is anticipated that future spend in this space
will increase post Covid 19 restrictions, these will be proportionate to the Security
Institute strategy. The review of accounts on a regular basis as well as gaining a greater
understanding of the debtors and other areas as included in the recommendations will
provide further level of details for future AGM.

The institute remains in a strong fiscal position with total assets of £294,557.00. (as of
31st Dec 2020) in a period when organisations are seeing a reduced business sale. It
shows a considerable improvement upon the previous year and this is because in 2019
the accounts were adjusted to reflect correct accounting procedures. This report is
submitted to the Security Institute’s Board of Directors for due consideration and the
audit committee stands ready should there be any additional questions.

Mahbubul Islam
Chair of Audit Committee
23/03/21

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