What is the Task to be performed by an Auditor while Conducting NGO Audit?
The Auditor needs to conduct the following tasks while conducting an NGO Audit:
- Since the NGO has its own memorandum the Auditor while conducting NGO Audit must have few insights about the company.
- The Auditor, while conducting NGO Audit, must investigate about the amount received as subscription ratifying with counterfoils of the receipts.
- The Auditor during an NGO Audit must evaluate the decisions taken by the executives.
- The Auditor must make physical verification of assets ratifying with store ledger.
- The Auditor shall check the liabilities and also that its assets during NGO Audit and whether its transfer is proper or not.
- NGOs receives grant from foreign institutions as well. So it is the duty of the Auditor to check whether it is accepted as per the provision of financial rules and regulations of the nation or not.
- The Auditor during the NGO Audit should check the use of Government grants. It should also look if the accounts are adequately maintained or not for recording the grants.
- In case such an institution has received the donation from any individual or organization, an auditor should check accounting of such amount and its use.
