Audit or Certification of Schools accounts

auditing review

Audit or Certification of Schools accounts

Section 18 (1) of the Education Act 1998 “a board shall keep all proper and usual accounts and records of all monies received by it or expenditure of such monies incurred by it and shall ensure that each year all such accounts are properly audited or certified in accordance with best practice”

There is no strict definition of the term “certified” but it suggests that a suitably qualified accountant is satisfied that the accounts are both properly presented and accurately reflect the underlying records.

An “Accountant’s Report” appended to the accounts would typically place responsibility for the completeness and accuracy of the underlying records on the Board of Management.

We also seek to add value to the audit function by providing the BOM with additional information crucial to your business such as:

  • Advise on accounting treatment of transactions
  • Identification of strengths and weaknesses
  • Analysis of controls & Accounting systems
  • Planning for proposed regulatory charges
  • Advise on best practice

Contact McDonald Walsh & Co to talk to a member of our audit team on 093-24693

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