Interested to Buy Any Domain ? << Click Here >> for more details...
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?
- 1 Answers
- 4988 Views
- I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
Explain what are the different functions of internal audit?
Whether interstate purchase of High speed diesel by mines at concessional rate is allowable ?
What do you mean by vouching?
Which books are helpful for practising accounting's most tricky sums?
Why you want to be a auditor?
what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?
May deduct TDS Froma reseller ?
How to Computation Advance Tax For First Quarter
Please send me rbi previous exam paper with ans for group B at aparna_majumder@ymail.com
How does an internal audit differ from an external audit?
purchase price of property purchased within last 3 years is to be relied upon not and not on revalued amount for the purpose of loan against properties.
whta is the current SBAR? Please provide the past rates from 1st january 2011 to till date.
What was your most rewarding accomplishment of your career and why
Explain tangible assets?
Why does a systems auditor need to use professional judgement when selecting audit procedures?
