Do you know if your Auditor (CA) is ensuring compliance with IT and FCRA? Use our Audit checklist!

 

Hi!

You don't have to feel helpless any longer when it comes to your annual financial audit and filing of returns with IT and FCRA! GuideStar India has created a practical checklist for a non-finance and accounts person to be equipped with what to ask your auditor before they finalise your audit.

The checklist will help you ask the relevant questions and be pro-active about your compliance. Spending a couple of hours at this stage will save a lot of your time and money later in responding to queries from the authorities and from your donors.

If you would like to add tips from your experience, please share in comments! If you have follow up questions, please ask and we will try to answer them. If you have suggestions, do send them.

Sections covered in the checklist

Accounting system, TDS, Assets, Internal Control, Operations, Governing body related, Bank Accounts, Financial Statements, Notices & Scrutiny, Audit Process, Disclosures to Income Tax, NGO Darpan, FCRA, Access to government portals for compliance, Material changes in a financial year and reporting obligations.

Checklist Features:

Compliance: Verify all statutory requirements.

Accuracy: Cross-check financial statements and documents.

Internal Controls: Review your organisation's internal controls.

Transparency: Keep clear records of all transactions.

Timeliness: Submit documents on time.

The checklist is available in 10 languages namely English, Hindi, Marathi, Tamil, Kannada, Malayalam, Telugu, Odia, Bengali and Gujarati making it accessible to a wider audience.

Access the Checklist: Download it from here 

Ensure that your accounts are user-friendly, convey the true nature of your programmes, give a clear picture of your costs and your needs, demonstrate the highest standards of compliance, good governance, transparency and accountability.

Note: This checklist is only for reference purposes. Organisations should refer to the respective Act and Rules for comprehensive understanding and keep up with the amendments. The checklist is an aid for a workshop session and hence would not capture the discussion points entirely and therefore users need to use the content judiciously as a starting point.

This checklist is an evolving document not to be forwarded without express permission of GuideStar India. (info@guidestarindia.org)