P&C School Audit Quotes – Fixed Fees for Committees

What is a P&C Audit?

A P&C audit is an independent examination of the financial records maintained by a Parents and Citizens (P&C) association, Parents and Friends (P&F) association, or school committee. These volunteer organisations raise and manage funds to support their local schools, and most are required by their constitution or state education department to have annual financial statements audited or reviewed.

The audit provides assurance to members, the school community, and any funding bodies that the association's funds are properly managed, accurately recorded, and used for appropriate purposes in accordance with the organisation's objectives.

Why P&C Associations Need Audits

P&C associations typically require annual audits for several reasons:

• Constitution requirements: Most P&C constitutions mandate annual audited financial statements be presented at the AGM
• Education department requirements: State education departments often require audits for associations operating on school premises
• Incorporated association laws: P&Cs incorporated under state associations legislation may be required to audit based on revenue thresholds
• Grant acquittal: Government grants received often require audited financial statements
• Good governance: Audits demonstrate transparency and accountability to members

What the Auditor Examines

A P&C audit typically covers:

• Cash receipts from fundraising events, canteen sales, and uniform shop
• Bank reconciliations and cash handling procedures
• Expenditure authorisation and documentation
• Grant acquittal compliance and restricted fund usage
• Inventory management (canteen stock, uniforms)
• GST compliance if registered for GST
• Compliance with the P&C constitution
• Proper meeting minutes and financial approvals

P&C Audit Costs

P&C audit fees are generally affordable given the volunteer nature of these organisations. Small to medium P&Cs typically pay between $500 and $1,500 for a full audit, depending on revenue size, number of activities (canteen, uniform shop, fundraising events), and record-keeping quality.

Through AuditLink, you can compare fixed-price quotes from auditors who understand that P&C committees are run by volunteers and appreciate clear, straightforward communication and reasonable fees.

Tips for a Smooth P&C Audit

To keep audit costs down and ensure a smooth process:

• Maintain organised records throughout the year, not just at audit time
• Reconcile bank accounts monthly
• Keep receipts and invoices for all expenditure
• Ensure proper authorisation (two signatures) on all payments
• Document all cash handling procedures for events
• Keep minutes of all meetings where financial decisions are made

Get Your P&C Audit Quotes

Post your P&C association audit job on AuditLink for just $39 inc GST. Receive 3-6 fixed-price quotes from auditors who work with volunteer organisations within 24-48 hours.