You are auditor of a college running different courses operating in your city. During audit of a year, it is noticed that fees concessions to…

Fee from Students: The fees concessions have to be under proper authority of college management. The auditor would verify internal controls in this regard. Besides, detailed checking of few cases needs to be undertaken to ensure genuineness of fees concessions and proper management approvals. Other points to verify fee from students are : Check names entered in the Students Fee Register for each month or term, with the respective Class Registers, showing names of students on rolls and test amount of fees charged; and verify that there operates a system of internal control which ensures that demands against the students are properly raised.Check fees received by comparing counterfoils of receipts granted with entries in the Cash Book and tracing the collections in the Fee Register to confirm the revenue from this source has been duly accounted for.Total up the various columns of the Fees Register for each month or term to ascertain that fees paid in advance have been carried forward and that the arrears that are irrecoverable have been written off under the sanction of an appropriate authority.Check admission fees with admission slips signed by the head of the institution and confirm that the amount has been credited to a Capital fund, unless the Managing Committee has taken a decision to the contrary.Confirm that fines for late payment or absence, etc. have been either collected or remitted under proper authority.Confirm that hostel dues were recovered before student's accounts were closed and their deposits of caution money refunded.