Financial Controls & Auditing
What financial controls & auditing means
Internal controls, records, financial reporting and audit in education.
Worked example
One question from this skill's own question bank, shown with its full working.
Segregation of duties as an internal control means:
- No single person controls a transaction from start to finish
- One person does everything
- Only the head keeps records
- Auditors run the school
Working: Splitting authorisation, custody and recording among different people reduces fraud and error risk.
Curriculum and exam alignment
Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.
Related skills
Other Financial Control & Accountability skills in Financial Management and Budgeting in Education, at the same point in the course.
Other Financial Management and Budgeting in Education topics
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Practise financial controls & auditing
8 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.