Whether fees structure is properly authorized along with change in fee structure if any. Admission fees, Tuition fees, Hostel fees etc.
Correspondence and other documents relating to legacies, grants etc. The system of letting out conference hall and class rooms, etc. Whether collected fees is deposited in bank on a daily basis.
He should be aware of all the provisions and rules of related laws concerning books of account and audit. Rental and Lease agreements. He should examine the audit report of last year and should note down the observation and qualification, if any.
If educational institution is running under Indian Public Trust Act, it is must for an Auditor to check, where investments have been made, because as per the Indian Public Trust Act, investment can be made in specific securities only.
Whether bank reconciliation statement is prepared at regular intervals and what kind of action is taken for uncleared cheque which were pending since long. Minutes of the managing committee. Charges and fees received and receivable should be examined on account of hostel accommodation, mess, housekeeping and clothing, etc.
Cash book should be verified with the donation received register. Fees receivable and actual fees received should be reconciled. Class wise fees receivable and the actual fees received reconcile or not.
These can be verified from relevant bank challans. The person who is collecting fees and the cashier should not be the same person.
Role of an Auditor in Audit of Educational Institutions While examining the above records, the auditor has to ensure the following: He shall evaluate and confirm the effectiveness of internal check system of accounting of the receipts.
Payment made on account of salary should be verified from terms of appointment and increment policy. Terms and conditions, cash book, voucher and receipts should be the basis for the verification of scholarship paid.
Is there is any system to physically verify the fixed assets, stores and consumables at regular interval. He should examine the Minutes of Meetings of the Board of Trustee or the Governing Body for important decisions regarding the sale or purchase of fixed assets, investments or delegation of finance power.
An Auditor should read and note down the state code and provisions relating to the conditions and procedures of Grants.The publication 'Technical Guide for Audit of Educational Institutions' has been brought for equipping members with the expertise required in effective discharge of their attest function in Educational Institutions.
– While doing Audit of An Educational Institution (herein after refereed to as ” EI “, All of you will generally Observe the following Incomes – Fees, Donations, From Investments, Etc. We will discuss one by one, So that it would be easier for All of you to Understand.
While doing Audit of An Educational Institution (herein after refereed to as " EI ", All of you will generally Observe the following Incomes - Fees, Donations, From Investments, Etc. We will discuss one by one, So that it would be easier for All of you to Understand.
Audit of Educational Institutions. The auditor may thoroughly study the trust deed of the trust to which the school or the college belongs and in the case of the audit of an University, he may study the Act of Legislature and.
Audit of Educational Institute and Non Profit Institute. Topics: Audit Kumon Educational Institute USA Upon careful review and analysis of the current situation of the Kumon Institute USA it is clear that there are several problems that should be addressed in order for Kumon Institute to succeed in the US market.
Although Kumon. mi-centre.com of books of educational institutions like school. Auditor should check income and expenditure account and balance sheet of such institutes in order to verify and report the true and fairness of results presented by income statements and financial position presented by the balance sheet.
universities etc. or other such institutions which are engaged in the educational .Download