ANNUAL SCHOOL DISTRICT AUDIT
School districts throughout Iowa, at least annually, have an audit conducted.
The audit examines the districts records and documents, as well as internal accounting, procedures and controls. The audit can provide purpose for: determining the propriety of proposed and/or completed transactions, ascertain whether all transactions have been record and also to determine whether transactions are accurately record in the accounts and in the statements drawn there in accordance with Generally Accepted Accounting Principles (GAAP).