Accounting and Auditing of Public Schools – Info Session
|CPD Hours:||Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
With the recent shake-up in terms of the audit and examination of public schools, there is lingering uncertainty as to the underlying accounting, financial statement preparation and audit requirements of public schools. Schools as well as accounting / auditing firms may be unaware of their respective responsibilities when it comes to keeping accounting records, drafting financial statements and when an audit is appropriate versus and an examination. This session focuses on dispelling uncertainties within the finance function and the audit oversight thereof, for public schools.
The objective of this course is to: 1. Simplify the legislation around the finance function 2. Look at illustrative financial statements to improve the financial statement preparation process 3. Gain certainty over what type of assurance is sufficient i.e. audit or examination
During this session, we will • Establish a foundational understanding of the finance function requirements placed upon public schools, • Specifically look at the drafting guidance for preparing financial statements of a public school; and lastly, • Consider the legislation (and interpretation thereof) around audit and examination requirements of public schools.
The following individuals will benefit from attending this course: • Accounting / finance department heads / clerks of public schools • School Governing Body members • Audit managers / seniors who will audit public schools and aren’t familiar with the South African School Act’s requirements for audit and exam (no specific auditing procedures will be discussed during the session, only what the accounting / auditing requirements placed upon public schools are, per the Act)