Audit of an ngo

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Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2012 What are the main aspects and legal compliances which needs to b considered while conducting the audit of NGO ????

Sanket

Sanket (Expert)
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30 December 2012 (i) Grant donations and contributions received from various Government, other NGO,
industry and public should be checked with reference to the grant letter, bank
statements and ensured that they are properly accounted and banked.
(ii) Foreign contribution received should be checked with reference to the
correspondence receipt issued, bank statement, conversion into local currency. It
should be ensured that all such contributions are as per RBI guidelines and be kept
in separate bank account.
(iii) In the case of any fund raising cultural or sports program, verify the internal control
system, mode of receipt and the authority accountable. Ensure that all collections are
duly receipted and deposited in the bank promptly.
(iv) Check the fee received from members with the register of members.
(v) Check interest and dividend received from investments with investment held.

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Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2012 thanks Sanket

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