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Example 6 Audit certificates - Planning and budgeting - P&C

By Dale Powell,2014-05-16 05:12
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Example 6 Audit certificates - Planning and budgeting - P&C

    Example 6: Audit certificates

    …………….. SCHOOL

    (school name)

    PARENTS AND CITIZENS’ ASSOCIATION

    ANNUAL FINANCIAL STATEMENTS

    For the year ending …..………………….

    CERTIFICATE OF THE PRESIDENT, SECRETARY AND TREASURER

    We have prepared the foregoing annual financial statements pursuant to the provisions of the Financial

    Administration and Audit Act 19771988, and the manual Accounting for Parents and Citizens’ Associations and

    certify that:

    a) the financial statements and notes to and forming part of the accounts are in agreement with the accounts and

    records of the .................................School Parents and Citizens’ Association; b) in our opinion:

    (i) the prescribed requirements in respect of the establishment and keeping of accounts have been complied with

    in all material respects;

    (ii) the statements have been drawn up so as to present a true and fair view, on a basis consistent with that applied

    in the financial year last preceding, of the transactions of the association for the financial year to which they

    relate and, where they show the financial position as at the close of that year, of that financial position.

     ................................ .................................. ............................

     (signature) (signature) (signature)

     President Secretary Treasurer

     ……......... ............. ....................

     (name) (name) (name)

     / / / / / /

    PURPOSE AND SCOPE OF FINANCIAL STATEMENTS

    The Parents and Citizens’ Association was established pursuant to the Education (General Provisions) Act 1989. The Association’s function is to promote the interests of the State school and benefit all students at the

    school.

    The financial statements have been prepared in accordance with the requirements prescribed by:

? the Education (General Provisions) Act 1989;

    ? Section 46F of the Financial Administration and Audit Act 1977, with the exception that the statements are to be submitted to the appointed auditor;

    ? the Accounting Manual for Parents and Citizens’ Associations.

The statements have been prepared so as to provide a full disclosure of the financial operations of all of the

    association’s activities during the financial year and the general state of affairs at the end of that year.

    STATEMENT OF ACCOUNTING PRINCIPLES

Significant accounting principles applied to the annual financial statements:

(a) basis of accounting:

    The foregoing financial statements have been prepared on a cash accounting basis consistent with that

    which applied in the previous year.

(b) stock on hand:

     All stocks are valued at cost.

(c) fixed assets:

    Items of plant and equipment, amenities and facilities when purchased from P&C funds immediately

    become the property of the Corporation of the Minister for Education, and as such, are listed on the

    Department of Education Equipment Register.

(d) contingent assets/liabilities:

    There were no known contingent assets/liabilities of a significant nature at ..........……………...

     (end of year)

    AUDITOR’S CERTIFICATION

    for the financial year ended .................................

    I have examined the accounts of the ....................................School Parents and Citizens’ Association and I certify that, in my opinion:

1. The attached financial statements of the Parents and Citizens’ Association Fund established under the

    Education (General Provisions) Act 1989 are in agreement with the accounts and are in the required form.

2. The prescribed requirements in respect of the keeping of accounts by the association have been complied with,

    in all material respects.

3. The statements have been drawn up so as to present a true and fair view, on a basis consistent with that applied

    in the preceding year of the transactions for the financial year and the financial position as at the close of the

    year.

    ...............................

    Auditor ......./....../......

    ...........................

    Qualifications)

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