Audit of Trusts, Societies & NGOs
Limited reviews and interim financial reviews provide stakeholders with timely assurance on the financial position of a company between statutory audit cycles. While not as exhaustive as a full statutory audit, these reviews involve focused procedures designed to highlight material misstatements, compliance issues, and governance gaps in quarterly or half-yearly financial results.
Such reviews are particularly important for listed companies, regulators, lenders, and investors who require reliable interim financial information to make informed decisions. They provide a balance between timeliness and assurance, ensuring confidence in financial disclosures during the year.
About This Service
Our limited review and interim financial review services are designed to provide credible assurance over quarterly and interim reporting in compliance with SEBI, stock exchange, and regulatory requirements. We perform analytical reviews, inquiries, and limited testing of key transactions to ensure that financial statements are free from material misstatement.
Although the scope is narrower than a statutory audit, our approach emphasizes accuracy, transparency, and compliance. We examine revenue recognition, expense booking, provisioning, related-party transactions, and disclosures to identify anomalies that may impact stakeholders’ trust.
These reviews provide management and boards with early visibility into potential issues, enabling corrective action before the annual audit. They also enhance investor confidence by demonstrating the company’s commitment to transparent and reliable reporting throughout the year.
By combining global best practices with sector-specific expertise, our interim reviews deliver actionable insights, ensure compliance with quarterly reporting obligations, and strengthen governance frameworks without causing operational disruptions.
Key Features / Scope of Work
- Examination of books of accounts, grants, and donations received.
- Verification of fund utilization in line with the stated objectives.
- Compliance review under the Societies Registration Act, Indian Trusts Act, and state laws.
- Audit of exemptions and filings under Income Tax Act (Sections 12A, 80G, etc.).
- Assessment of compliance with FCRA and donor-specific conditions.
- Verification of utilization certificates and program expenditure tracking.
- Review of internal controls, governance processes, and fund flow management.
- Recommendations to improve transparency, accountability, and efficiency.
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