Charities and Non Governmental Organizations
Key audit areas:
- 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;
- Outgoings: should be subject to delegated authority and Should be minute;
- 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.