As the Finance Manager of a local community centre which runs programs for newcomers. You decide to review the latest audited financial statements of the community centre, as they are amidst a funding transition that is now seeing the government provide 50% of the centre's total revenue. You wonder if there's anything you should be concerned about. You read the preamble the external audit firm provided and notice they've provided a "qualified opinion" on the financial statements. You decide to review the latest audited financial statements of the community centre. You wonder if there's anything you should be concerned about. Last year ended with a very large surplus. You should have no concerns about this if?

Answer rating: 100% (QA)

If last year ended with a very large surplus there may be no immediate concerns if The surplus is ad... View the full answer