8.0 SUMMARY OF YEAR-END FINANCIAL REPORTING REQUIREMENTS
The following must be provided to INAC as part of a Recipient's year-end submission:
- Auditor's report
- Summary (consolidated) Statement of Financial Position* - audited
- Summary (consolidated) Statement of Financial Activities* - audited
- Summary (consolidated) Statement of Changes in Financial Position* - audited
- Notes to financial statements - audited
- Program/Service Revenues and Expenditures Schedules (Annex A)
- Statements of Receipt and Expenditure of Indian Moneys (Annexes B-C) - audited
- Schedules of Salaries, Honoraria, Travel Expenses and Other Remuneration (Annexes D - E - F) - auditor's attestation
- Auditor's Management Letter - (as required in Section 6.5)
- Funding Reconciliation - mandatory
- Schedule of Federal Government Funding (Annexes G-H-I-J)** - auditor's attestation
Explanatory Notes:
The financial statements must be approved by the recipient. This approval will be in the
form of a signature on the Statement of Financial Position and may include a Management Report acknowledging management's responsibility for the financial statements.
The scope of the audit should be clear to the reader of the financial statements. The detail of which information has been audited is typically detailed in the introductory first paragraph of the auditor's report. All information contained in a note to the audited financial statements is also considered audited information.
| * : |
If the recipient is either a Tribal Council or a First Nation Political Organization which through the application of GAAP definitions and recommendations should adhere to CICA accounting recommendations for profit oriented enterprises or not-for-profit organizations, then the equivalent consolidated financial statements should be provided. |
| ** : |
A BCR which permits the public disclosure of the audited financial statements may be accepted instead of this Schedule. |
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