Financial Accounting For New Jersey Private Schools For The Disabled The Audit Program 2004-2005 School

Date Issued: 6/2005 I. DIGEST OF THE PRIVATE SCHOOL FOR THE DISABLED AUDIT REQUIREMENT N.J.A.C. 6A:23-4.9 In accordance with N.J.A.C. 6A:23-4.9(a)1, the private school for the disabled shall engage only an independent registered municipal accountant of New Jersey or an independent certified public accountant of New Jersey to conduct the annual audit, who holds a valid registration license as a public school accountant for New Jersey. The approved private school for the disabled shall ensure the independent status of the auditor in accordance with standards set forth in the Code of Professional Ethics issued by, and available from, the American Institute of Certified Public Accountants (AICPA). Additionally, upon review by the Department, an accountant shall not be considered independent, if such accountant or members of his or her firm are engaged to perform services other than the year-end audit and tax return functions for the private school for the disabled. Also, the auditor must indicate their public school accountant’s license number on the Independent Auditor’s Report and Auditor’s Report on Internal Controls. A copy of N.J.A.C. 6A:23-4.1 through 4.16 is included in this publication as APPENDIX A. The audit shall include an audit of the books, accounts and moneys and a verification of all cash and bank balances of the private school, and of any officer or employee thereof, and of any organization of private school students conducted ...