Question

State the special features of Audit of Educational Institutions.

Answer 1

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Main Source of Collection. Admission fees, tuition fees, examination fees, fines, etc. Securities from students. Donations from public. Grants from Government for building, prizes, maintenance, etc.

Answer 2

The special features of the Audit of Educational Institutions are:

• It must be ensured that his appointment letter (the auditors) is in order.
• The auditor should get a list of the educational institutions' books, documents, registers, and other records.
• He should look over the audit report from the previous year and make a note of any observations or qualifications.
• From the Trust Deed, Charter of Regulations, he should jot down the relevant aspects involving accounts and audits.