Lucknow Public Educational Society is operational in the state of Uttar Pradesh & Delhi. The society has been set up to establish educational institutions to provide quality education and to work towards global development of the students. Internal Audit Internal Audit is planned and performed by the Management of Lucknow Public College of Professional Studies. The Financial Statements are prepared on the historical cost convention and the proper books of account are kept by the college. These statements are prepared in accordance with the Generally Accepted Accounting Principle (GAAP) and the applicable mandatory Accounting Standards. The preparation of financial statements requires adoption of estimates and assumptions that can affect the reported amount of revenue, expenditure, assets and liabilities as well as the disclosure of contingent liabilities. External Audit R. P. Verma & Co, Chartered Accountants, have been our Statutory Auditors for the last 5 years. They are independent auditors appointed by the Society to conduct the audit of the financial statements of the Society. They have not pointed out any weakness in the internal control system. The reports of the statutory auditors are available for the last 5 years. They have stated in their report that proper books of accounts have been kept by the Society and expressed opinion that the financial statements give a true and fair view in conformity with the accounting principles on the Balance Sheet and Income & Expenditure Account. The qualified opinion is not related to the systems and procedures or the internal control systems.

LPCPS is committed towards the overall growth and development of the students and for ensuring these institutional strategies are decided to work upon them by making proper implementation on all the decisions on time with full efficiency and effectiveness.

Strategies for mobilization of funds:

1. Different departments, committees and individual staff members has to submit the proposals for the events to the college principal which will monitor the need, sanction and execution of such proposals.

2. The college encourages each section of the institution to find sponsors towards meeting the expenses for organization of events and activities.

3. Active involvement of Alumni Association is ensured, while organizing any event, activity or outreach program.

4. The principal is expected to study and recommend various ways to channelize funds for the development of the institution.

6. The new construction and maintenance works are to be sanctioned only after conducting a feasibility study under the guidance of principal.

7. Disaster relief and social outreach programs are being planned by the college on humanitarian grounds.

8. For meritorious students free ships are provided by the college.

9. College also focus on the co-curricular activities for the students and distribute funds for the sports and cultural activities.

10. Tuition fee is used mainly for the college infrastructure as well as academic activities.

11. As finalized by the Management, the funds are used according to the needs in the different heads as mentioned below: