The audit should be performed at the end of the school's fiscal year, after the greater part of the school years activities has been finished. ... The audit shows the degree or extent of observance of state and district laws and policies, expresses a professional opinion as to whether the financial statements present fairly the financial condition of the district, examines the adequacy or inadequacy of accounting procedures, provides suggestions to improve the system and gives an official review of the operations of the school system for the period of the audit (Brimley, V., Verstegen, D....

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• Approx Pages: 4
• Has Bibliography
• Grade Level: High School