Planning the Audit of Financial Resources in a Non-Profit Organization
Internal auditing of non-profit organizations represents the first line of defence against inadequate use of non-profit organization?s funding sources. In the European legal system, the purpose of a non-profit organization is to meet the needs of stakeholders with different products and services and...
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| Main Authors: | , |
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| Format: | Book Chapter |
| Language: | English |
| Published: |
IntechOpen
2020
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| Subjects: | |
| Online Access: | https://www.intechopen.com/chapters/68435 |
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| Summary: | Internal auditing of non-profit organizations represents the first line of defence against inadequate use of non-profit organization?s funding sources. In the European legal system, the purpose of a non-profit organization is to meet the needs of stakeholders with different products and services and public works that the state or other profit organization cannot satisfy and to affect the policy of the state or the economy. Non-profit organizations due to their nature are not able to acquire their own sources of financing, which is why they largely depend on subsidies, grants, membership fees, revenue from the sale of services and products that are not necessarily sold at market price. Therefore, the correct usage of these sources is all the more important. One way of checking the correctness of the use of sources of financing is internal audit, which must be carefully planned. The purpose of the chapter is to present the planning of the internal audit in the case of a non-profit organization, the most important part of which is the definition of audit objectives, the organization’s risk analysis and the preparation of the audit plan. |
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| ISBN: | 978-1-78985-627-9 |
| DOI: | 10.5772/intechopen.88450 |