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Non-profit organizations, including housing associations require occasional revision.

Nonprofit statutes generally provide for the formation of a revision committee. In this case, their annual statements must be revised.


Since the revision of accounting must be done in accordance with laws, the controller must be a professional. Such people may not, however, be found in the membership of each NGO. In many cases the NGO is also interested in a bystander‘s opinion. Where more money is moving, for example housing associations, a professional and neutral controller is especially important.

Controller task is to determine whether the financial statements give a true and fair view of the financial position, financial performance and cash flows, and whether the activity report provides a sufficient overview of the financial position influenced by circumstances and anticipated trends in the next financial year.

In case of housing associations, economic action plan and report on its performance are important parts of activity report.