Audit of not-for-profit organisations

Question 1

When may organisations fall within the scope of a statutory audit?

Answer 1

If entities concerned are limited liability companies

Question 2

What may be required if organisations are not incorporated?

Answer 2

An assurance engagement due to requirements of regulatory or governing bodies, e.g. Charity Commission

Question 3

When carrying out an audit of a not-for-profit organisation, it is vital that auditor establishes (statutory)

Answer 3

Whether a statutory audit is required

Question 4

When carrying out an audit of a not-for-profit organisation, it is vital that auditor establishes (objectives)

Answer 4

if a statutory audit is not required, what the objectives of the engagement are

Question 5

When carrying out an audit of a not-for-profit organisation, it is vital that auditor establishes (engagement report)

Answer 5

What the engagement is to report on

Question 6

When carrying out an audit of a not-for-profit organisation, it is vital that auditor establishes (report addressed)

Answer 6

To whom the report should be addressed

Question 7

When carrying out an audit of a not-for-profit organisation, it is vital that auditor establishes (form report)

Answer 7

What form the report should take