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Initial Requsition RIP

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18 views

Initial Requsition RIP

Uploaded by

rizwan.rasg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Date: August 6, 2020

Mr. Wasif Ali


Relief International Pakistan (RIP)
Islamabad

Subject: RIP Audit for the Year Ended December 31, 2019

Dear Sir,

Please provide to us the following documents, schedules and information in relation to the audit of
Relief International Pakistan (RIP).

General
o Draft financial statements for the period ended December 31, 2019;
o Audited Financial Statement for last 5 years.
o Trial balance as at December 31, 2019 (in Rupees); (along with head wise activity)
o General ledgers for the period ended December 31, 2019(in Rupees); (along with head
wise activity)
o Minutes for all Board’s meetings held during the period ended 31 December 2019. (If any)
o Accounting and Financial policies for the organization approved by Principal Officer or
CEO,
o Recommendations from advisory council in respect of budgeting. (If any)
o Budget for the period ended 31 December 2019 (If any).
o All the agreements entered by the Organization during the period.
o List of Authorized tax and legal advisors
o Organogram of the organization
o Copy of MOU and registration Data with MOI.
o Copy of Monthly Financial reports send to Head office (If any)
o Income tax return for last 3 years
o Tax Exemption Certificate
o Details of HR Policy i.e (Admission, Deletions, Increment rates, Leaves)

Non-current Assets

o Working for the depreciation charge during the period.


o Detail of additions to/deletion from fixed assets for the period.
o Category wise listing of fixed assets.
o Insurance documents of all assets.
o Fixed asset register
o Registration documents of vehicles along with List of vehicles.

Current Assets

Advances, Deposits, Prepayments and Other Receivables

o Aging and schedule of advances to employees (If any)


o Aging and schedule of advances to suppliers along with the age analysis.
o Aging and schedule of prepayments.
o Aging and schedule of security deposit (if any).
Cash and Bank balances

o Certificate of cash in hand.


o Monthly bank reconciliation statements along with the bank statements for the
period showing details of reconciling items.
o Bank classification list into saving, current and foreign bank accounts.
o List of authorized signatories with their specimen signatures.
o Certified list of bank accounts as at 31 December 2019
o Authorized list of bank accounts opened and closed during the period (if any).
o BOD approval for bank accounts opened and closed during the period.
o Bank statement from 1st January, 2019 to 30th June 2020 for subsequent clearance.

Related Party (If any)

o Certified list of all related parties.


o Schedule of the related party transactions.
o Movement of “due from related party” during the period.

General Fund

o Schedule of funds received during the period.


o Copy of agreement and MOUs in respect of funds received.
o
Restricted Fund

o Schedule of funds received during the period.


o Details of Amount received in this respect.
o Projects to which amount is allocated during the Period.
o Copy of agreement and MOUs in respect of funds received.
o Received During The period.

Current Liabilities

o Creditors listing along with aging for the period ended.


o Schedule of accruals along with supporting documents.
o Schedule of withholding tax payable along with the challans filed during the period.
o Movement of creditors during the period.
o Movement of “Due to related party” during the period.

Contingencies and commitments

o Details and working of contingencies and commitments made by the organizations at


the period end (if any).
o List of pending litigations
Income

o Income from Head Office.


o Project wise break up of Funds
o Detailed breakup of Contribution
Other Income

o Breakup of other income.


o Gain on sale of fixed asset (if any).
o Working for calculation of interest on profit on bank accounts (If any)

Expenses

o Monthly payroll along with their reconciliation with GL.


o Personnel files of the employees selected by the audit team.
o Authorized list of leavers and Joiners during the period.
o Working of key management personnel remuneration.
o Details of any benefits paid to the retiring employees.
o Rent agreements.
o Project wise Expenses Detail.

It is further stated that this list is not exhaustive; we may require further documents/details as is
required during the course of audit.

We would appreciate if the above information is provided to us at your earliest enabling us to


initiate our work.

Thanking you.

Very truly yours


Islam Zaib
Job-In-Charge
For Riaz Ahmad, Saqib, Gohar & Co.
(Chartered Accountants)

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