If a charity is required to have an audit carried out due
to the level of incoming resources or expenditure, but then
is below the threshold in the following years, is an audit
still required?
Answer / guest
Yes. The Charities Act 1993 requires an audit to be carried
out if the charity?s gross income or total expenditure
exceeds ?250,000 in either:
(a) The relevant year or
(b) The financial year immediately preceding the relevant
year or
The financial year immediately preceding the year specified
in paragraph (b) above.
Therefore, once an audit is required, there is a further
requirement for an audit to be carried out for the
following two years.
Is This Answer Correct ? | 2 Yes | 0 No |
what is the accounting
what is the bank reconcilation
Should Sales tax filing be done ? If yes , why ? explain.
What is the meaning of XBRL??
what is convectional audit
I purchase New DVD for Students, what can treat this expenditure is recurring or non recurring
What are objectives of internal audit?
What techniques used during an audit?
WHAT IS AP/AR RECONCILIATION PROCESS? WHAT YOU DO IN AP/AR RECONCILIATION?
what is a balance sheet
11 Answers Cognizant, State Bank Of India SBI,
which of the following procedure would auditor lease likely perform in planning a financial statement audit?
Define Internal audit responsibility