Allegations of irregularities, overcharging: Govt to audit private schools finances
Govt has decided to appoint specialised audit teams to carry out a comprehensive inspection of financial records of pvt schools, following repeated complaints from parents over alleged financial irregularities and excessive fee collection
The Delhi government has decided to appoint specialised audit teams to carry out a comprehensive inspection of financial records of private schools, following repeated complaints from parents over alleged financial irregularities and excessive fee collection.
The Directorate of Education (DoE) will hire three project management units to conduct detailed audits of private unaided recognised schools across the capital, the education department said.
Each project management unit will consist of 10 chartered accountants and the total cost of the audit exercise has been estimated at Rs 6.3 crore, it said, adding that the decision was taken after the department received several complaints alleging financial malpractice and overcharging by private schools.
It further mentioned that routine inspections ordered on individual complaints were not sufficient to uncover deeper irregularities, making a detailed examination of financial statements necessary. Around 1,794 private unaided recognised schools in Delhi will be covered under the audit, with scrutiny of their financial accounts for the past three years, the education department said.
The teams will analyse financial statements to identify anomalies, suspicious transactions and possible violations, following a standard operating procedure issued by the DoE, it highlighted
