Is your NGO entity getting Audited? Or are you a Auditor of an NGO?
In this case, there are numerous documents to be taken care of, given below is a preliminary requirement list of documents, and additional documents may be required which will vary from case to case basis that should be taken care of while initiating an audit.
P.S: Details of document required is grouped for ease of understanding
Sl No | Particulars | Remarks |
A | General | |
1 | Deed/Memorandum of association of the NGO. | |
2 | Recognition/ Registration certificate of NGO, if registered - Society / 12A / 80G / CSR-1 | |
3 | Audited/Unaudited Financial Statements of immediately preceding financial year along with copy of ITR. | |
4 | Books of Accounts-Tally backup, SAP, Accounting Software access | |
B | Cash and Bank | |
5 | Bank Statements (also those closedduring the year)- Annual | |
6 | Bank Interest Certificates - Annual | |
7 | List of bank guarantees with purpose & direct confirmation from Banks | |
8 | Certificate for Cash Balance as the year end | |
C | Receivables | |
9 | List of members and reconciliation of their membership fees. | |
10 | List of all the donations andgrants received - properly classified whether corpus or general. | |
11 | Workings of total anonymous donations received. | |
D | Trade payables/Advances to Vendors including Capital advances | |
12 | Advances to Suppliers &Sundry Creditors - Annual Ledger with Closing balance confirmations | |
13 | Ageing of Creditors | |
14 | Details of MSME registered Creditors | |
E | Property, Plant and Equipment/CWIP/Intangible assets and Intangible assets under development | |
15 | expenses | |
16 | Fixed AssetRegister & depreciation (along with workings) | |
17 | Details of profit/loss on sale of asset | |
18 | Breakup and details of the Capital Work in Progress and intangible assets with reasons for items more than180 days, if any ( as per the format decided during the visit) | |
19 | Physical verification report for last year and done until date for the current year | |
20 | Copy of lease deedsfor all the leasehold properties | |
21 | Original RCs for all the vehicles | |
F | Inventory | |
22 | Inventory valuation inter alia showing Cost & NRV | |
23 | Yield Ratiocalculation (for manufacturing entities) | |
24 | Consumption ratioof major raw materials for last threeyears qty wise as wellas amount wise(for manufacturing entities) | |
25 | Statement of capacity utilization for all the plants for the current period and last 3 years (for manufacturing entities) | |
26 | Physical Verification report of stock lying with 3rd party, Branch, Warehouse, Plant etc. during the period, if conducted. Remarks for variances if any | |
G | Borrowings | |
27 | Bank Loan Statements - Annual (with segregation of Interest and Principal Repayment component) | |
28 | Interest working of all the loans along with Loan statements for the year | |
29 | Balance confirmation of the outstanding borrowings from related parties& Banks as at financial year end (31-03) directly at our email id. | |
30 | Unsecured Loan Statements - Annual (with segregation of Interest and Principal Repayment component) | |
H | Purchases | |
31 | Purchase Register for the period ended along with reconciliation with books of accounts | |
32 | Copy of Top 15 invoices (Value Based) | |
I | Employee Expenses | |
33 | Monthly statement of total no. of employees (Location wise) including bifurcation for newly joined and employees which had left | |
34 | Details and working of Bonus, Variable pay/increment, Sales Incentive and Sales commission for the periodended and policyof the entity consistently followed or as per labour award/agreements. | |
35 | TDS returns copies and challan copies and login credentials- For the Year | |
36 | Provident Fund returns copies and challan copies and login credentials- For the Year | |
37 | ESI returns copies and challan copies and login credentials- For the Year | |
38 | Bonus Act returns copies and challan copies - For the Year |
J | Other Expenses | |
39 | Electricity Bill and Water Bill - Monthly in pdf format | |
40 | Rent Bills-Monthly in pdf format | |
41 | Commission Fees | |
42 | List of all the insurance policies held by the entity along with the policies- Key man insurance, Health Policy for Employees, Fire and other general insurance policies | |
43 | Any other recurring expenses - Bill - Monthly in pdf format | |
44 | Party wise details of Prepaid and outstanding expenses as on period end, along with management remarks on old provisions along with the disclosure for financials purposes (Current & Non Current) | |
45 | Copy of donation receipt, if any, made during the period | |
K | Investments | |
46 | Demat statements as at financial year end (31-03) | |
47 | Mutual Fund Statements as at financial year end (31-03) along with the details of sale & Purchase of mutual funds during the period year ended financial year end (31-03) & Profit/loss recognized on sale of such mutual funds | |
L | Statutory Dues & Taxes | |
48 | Month wise statement of Provident Fund, Profession Tax, ESIC, TDS, GST with Challans | |
49 | Details of disputed statutory dues, if any | |
50 | Direct and Indirect tax status as at financial year end (31-03) | |
51 | Income tax demand /refund status from portal | |
52 | Direct and Indirect tax orders received during the period ended financial year end (31-03) | |
M | Others | |
53 | Details of any government grant received during the year- along with grant deed | |
54 | Detailed project report of major events/ drives conducted during the year | |
55 | List of all the members of the NGO | |
56 | Latest proceedings/notices/orders of Tax Authorities (in case of demand order) | |
57 | Income tax, GST, TRACEs Login credentials | |
58 | Secretarial Records | |
59 | ROC forms filed during the period ended financial year end (31-03) | |
The above is a preliminary requirement list of documents, and additional documents may be required which will vary from case to case basis, also note that not all the above requirements maybe applicable to your entity so send only the once applicable to your entity.
We hope the above blog was helpful in enhancing your knowledge on the matter. In case of any queries feel free to get in touch with our team of experts.
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~Jimmy Dean
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CA Umang Jain
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umang@caumang.com
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