Japan IT Week 2024 Brochure by 47Billion (English)
Audit of npo
1.
2. MEANING OF NPO
Voluntary effort has always been an integral part
of Indian culture and social tradition. The World
Bank defines NPOs as “private organizations
that pursue activities to relieve
suffering, promote the interests of the
poor, protect the environment, provide basic
social services, or undertake community
development”. Registered NPOs are usually
granted tax exemptions .
4. From where does a NPO gets
funds from ????
Sponsorship funds
Admission fees
Grants
Donations
Fund raising campaigns and annual
events
5. Definition of audit
The goal of an audit is to express an opinion of the
person / organization / system (etc.) in
question, under evaluation based on work done on
a test basis. An audit reviews and verifies the
financial books of an organization. The primary role
of the auditing is to ensure that the funds of the
organization are used in a consistent and
financially sound manner. An audit committee is
charged with protecting the organization's financial
assets as well as its name and reputation.
6. Audit Requirements
Select an audit team or committee
Develop a written plan
Check the inventories
Inspect entity
7. How is auditing done of a
NPO
Incoming Money
Expenditures
Closing the Fiscal Year
Tax Audit