Society Accounts and Audit Compliance Guide
Reconcile donations, grants, books and audit evidence.
Reconcile donations, grants, books and audit evidence. Use the sections below to understand the practical decisions, records and compliance points before taking action.
Separate fund categories
Distinguish subscriptions, donations, corpus, restricted grants and foreign contribution.
Reconcile books and banks
Match receipts, payments, ledgers, bank, assets, advances and statutory dues.
Close project accounts
Link expenses to approved budgets, beneficiaries, procurement and activity evidence.
Test audit applicability
Review state, tax, grant and FCRA audit requirements based on current facts.
Approve financial statements
Follow MOA, rules and applicable meeting requirements for accounts and audit reports.
Preserve audit evidence
Maintain vouchers, confirmations, ledgers, bank statements, reports and signed statements.
Official References
Rules and portal requirements can change. Review the current official material relevant to the proposed company.
This article provides general information and is not a substitute for legal, tax or investment advice. Applicability should be reviewed for the proposed entity and current law.