Social Sector Accreditation Standards
A user has pointed out that any organisation that receives funding from the New Zealand government for providing social services is subject to an audit if the total funding exceeds $100,000. The fund receiver needs to report to Social Services Accreditation.
The level three standard, under the section "Financial management and systems" point says:
Where the organisation receives $100,000 or more per annum from government, it will provide evidence of:
• annual audited accounts
• audit reports and auditor’s opinion
• auditor’s letter.
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Yes correct. We have had a few clients who used to have a review engagement, subject to this criteria now requiring audit.
This is also applicable for a PTE we have found.
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