As per Section II “Reporting Schedule” of Annexure to the grant agreement with Novib “The consolidated annual audited accounts (audit report) should consist of a balance sheet, income and expenditure account, fixed asset register and explanatory notes. This audit report should include accounts at the organizational level and also at the project level and also include an opinion of the auditors on the organization’s financial management and administration.”
However, during our review of annual financial statements of Awaz Foundation and related audit report signed by the auditors we noted that the consolidated financial statements of the organization did not contain the project wise break up of key balance sheet items such as fixed assets, cash and bank balances and other current assets, further the audit opinion did not contain an opinion on the organization’s financial management and administration.
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