An audited statement is the complete record of all your expenditure and income for a year as shown by your bookkeeping system, and checked and approved by a qualified accountant.

Organisations should have their bookkeeping audited (checked and approved by an accountant) at the end of each financial year. The financial year is different from the ordinary year. It does not go from January to December, but can be from 1st April of one year to 31st March of the next. This will differ between organisations.

The audited statement shows exactly how much money was spent in the year, what it was spent on, where the income came from and whether you spent more than you had, or less. Donors also use the audited statement to check how good the financial management in your organisation is before they give you any more money.