Involves certifying the end use of funds (expenditure or payments). This certification is typically requested by lenders where debt exists.
1. Understand the objective or the purpose of the certificate and stakeholders. 2. Obtain a statement from the entity showing the end use of funds received. 3. Verify the statement given with the bank statements/bank books and other relevant underlying financial records maintained by the entity. 4. Post verification issue a certificate opining on the end use of funds as indicated in the statement.
1. Underlying financial records/information 2. Documents/evidences for transactions included in the statement