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SAO SARY FOUNDATIONMEMORANDUM OF INTERNALACCOUNTING CONTROLSFOR THE PERIODSEPTEMBER 01 2008 TO AUGUST 31 2009 
 
 
 
 SAO SARY FOUNDATION
MEMORANDUM ON REVIEW OF INTERNAL ACCOUTING CONTROLS
CONTENTS Pages1.
 
FINANCIAL REPORTING
1
1.1
Monthly financial reports for management
 
1
1.2
Recording and documentations of financial transactions
 
1
2.
 
FIXED ASSETS
2
2.1
Fixed assets listing
 
2
3. CASH RECEIPTS
 3
3.1
Documentation of income
 
3
3.2
Official receipt
 
3
3.3
No account description
 
4
4
.
EXPENSES
4
4.1
No Approval on the voucher
 
4
4.2
No Address or Phone number on the receipt 5
4.3
No distribution list 7
4.4
No stamp “Paid” 8
4.5
Price quotations
 
8
4.6
No approved by on the voucher
 
9
4.7
Non preparation of loan agreement for the beneficiary 10
4.8
Non preparation of finance voucher
 
10
4.9
No description of expenses in the system 12
4.10
Non preparation of rice monitoring register or logbook 14
4.11
Lost receipts and invoices
 
14
5. PAYROLL
16
5.1
Employment contracts 16
5.2
Pay slips 16
5.3
Payroll summary 17
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