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Formats of Annual Financial Accounts for Primary Schools to be prepared by External School Accountant/AuditorEXAMPLE OF AUDITED ACCOUNTSBallymore Primary School, Drainboard OF MANAGEMENT REPORT AND
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An audit is a systematic examination and verification of an organization's financial records and processes to ensure accuracy and compliance with regulations.
Certain organizations such as publicly traded companies, non-profit organizations, and government entities are typically required to file audits to provide transparency and accountability.
Audits are typically filled out by qualified auditors who review financial documents, perform tests, and provide an opinion on the accuracy and compliance of the organization's financial statements.
The purpose of an audit is to provide assurance to stakeholders that the financial information presented by an organization is reliable, accurate, and in compliance with applicable laws and regulations.
An audit report typically includes a statement of financial position, statement of profit and loss, cash flow statement, notes to financial statements, and auditor's opinion on the financial statements.
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