Charities and non governmental organizations, Auditing

Charities and Non Governmental Organizations

Key audit areas:

  1. Income: donations therefore are not easy to confirm good internal control is needed particularly on the opening of mail. The published list of donors can be especially helpful in confirmation;
  2. Outgoings: should be subject to delegated authority and Should be minute;
  3. Investments: Many charities have investments and these are confirmed in the general way of confirming in investments.

The audit report is always qualified on grounds such is impossible since of the nature of the society to confirm whether all the income receivable in the form of donations has been completely accounted for.

Posted Date: 1/28/2013 4:25:02 AM | Location : United States







Related Discussions:- Charities and non governmental organizations, Assignment Help, Ask Question on Charities and non governmental organizations, Get Answer, Expert's Help, Charities and non governmental organizations Discussions

Write discussion on Charities and non governmental organizations
Your posts are moderated
Related Questions
The assignment continues the research process by further exploring and defining the problem statement through the development of research objectives. These objectives will allow yo

Irregularities: Irregularities can be explained as intentional distortions of financial statements for whatever reason and also as misappropriation of possessions whether or no

Communications to Regulatory and Enforcement Authorities The auditor’s professional responsibility to sustain the confidentiality of client information ordinarily prevents repo

Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit

AUDIT RISK As we have seen many parties rely on the audit opinion to make decisions, and therefore it is now a well established fact that if the auditor gives an audit opinion

Discontinued Operations - Audit of Accounting Estimates A discontinued operation is a component of an entity that either has been disposed of or is held for sale. So it might

Please assist me with these assignments The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is n

what is statutory audit and private audit

Audit Procedures - Intangible Assets The auditor's process as far as goodwill is relating would involve as: a) Vouching for details as per the buy agreement of the values

What is business risk and what controls should organizations have in place?  Business Risk and Controls Business or operational risks related to the activities carried out