1. What is an internal financial audit?

2. How does this help to mitigate the risk of mismanagement of funds?

3. What data do you think will contribute to the audit and what financial reports might

contribute to an audit?

4. What structure and formats might financial report take?

5. Are there particular statutory requirements that should be followed?

6. What does due diligence mean in terms of finances and financial reporting?

7. Under what circumstances might budgets need to be revised?

8. To whom might you circulate reports and why would you circulate them to these people?

9. What reports might be prepared for the ATO?