AUDIT AND INVENTORY COMMITTEE ACTION PLAN AY 2024

Areas of Objectives Strategies Project/ Date of Persons Involved Budget Performance Indicator
Concern Program/Activities Implementation
Accomplishment
1.Financial 1. Ensure that the following Financial Audit
are properly recorded and
accounted for:

a. statutory funds Check passbook, vouchers Monthly checking

and deposit slips

b. supporting docs re: Reconcile supporting Monthly checking

cash flow (collection documents against the
and disbursement) & record
income Audit Committee
January 2024 Management staff Honoraria
c. business windows Monitor and check actual Monthly checking
record book

d. cash collection, Actual Cash Count Unscheduled cash

revolving funds count twice a
and transactions month
involving cash

2.Management 1.Monitor the following:
a. BOD performance
Check the agenda against Management Audit
minutes of meeting,
resolutions, proposals, Checking at the Audit Committee
social activities, participation end of the year and BOD
in seminars, workshops and or as need arises Management staff
policy making
 Audit Committee
b. committee Check submission of reports Checking as need Management staff
performance arises Other Committees
January 2024 Honoraria

c. management’s Check and monitor Monthly checking Audit Committee

operation and attendance against official and or as need Management staff
attendance time arises

d. policy implementation Check the record and Monthly checking Audit Committee
monitor policy and or as need - Management staff
implementation particularly arises Credit Committee
on loans and coop operation APMC members

3. Audit 1.Ensure that auditing process Committee meeting and Review the APMC September 2024 Audit Committee Honoraria
Operation is guided by the manual review of Audit and constitution and by- Management staff
Manual Inventory Manual laws

Review the Audit

and Inventory
Manual

Make revisions if
needed

Prepared and submitted by:

CYNTHIA A. MALEFICIO JEFFREY RIVERA CHERYL U. DOLOROSA

Chairman, Audit Committee Member Member