SOCIAL WEALTH (STATUS)
What Exactly Is Social Wealth?When individuals discuss wealth, they typically imply money or other material possessions. However, social wealth is an equally significant form of wealth. It all comes down to the connections you make with others, including your classmates, friends, mentors, neighbors, and even online communities. These relationships can provide you with support, open […]
FINANCIAL WEALTH (MONEY)
The goal of financial wealth is to achieve long-term security and independence, not only to amass wealth. It starts with prudent money management practices including saving, budgeting, and debt management. By keeping track of their earnings and outlays, people can find areas where they can cut spending and put the money back into investments or […]
COMPLIANCE AUDIT FOR NGO
Compliance Audit [NGO Name][Start Date]–[End Date] is the audit period. To assess [Name of NGO]’s compliance with pertinent laws, donor requirements, internal rules, and regulatory standards governing non-profit operations, this compliance audit was conducted. Financial management, procurement, human resources, and program execution procedures were all examined in the audit. A thorough examination of organizational documents, […]
OPERATIONAL AUDIT FOR NGO
NGO Operational Audit The purpose of this operational audit was to assess the effectiveness, efficiency, and compliance of its resource management and program execution. Program implementation, financial management, human resources, and adherence to donor and regulatory requirements were among the topics reviewed by the audit. The goal was to make sure that resources are used […]
EXTERNAL AUDIT PROCEDURE FOR NGO
External Audit Procedure for Finance (NGO) The external audit process for an NGO’s financial operations begins with the appointment of an independent, qualified audit firm. The NGO’s management provides the auditors with access to financial statements, donor agreements, internal policies, and relevant supporting documents. An entrance meeting is conducted to discuss the audit scope, key […]
INTERNAL AUDIT PROCEDURE FOR NGO
Internal Audit Procedure for Finance (NGO) The internal audit of financial operations in an NGO starts with a comprehensive planning phase. The internal audit team identifies key financial processes such as donor fund management, grant disbursements, procurement, payroll, and financial reporting. Risk areas are assessed based on prior audits, funding agreements, and regulatory requirements. An […]
INTRODUCTION OF AUDIT
The purpose of an NGO’s internal audit system is to make sure that its financial resources are being spent appropriately and in line with its objective. The audit system should have specific goals, like protecting assets, making sure donor criteria are met, and assessing how well programs and operations are working. The NGO can enhance […]
INTRODUCTION OF AUDITING
The primary objectives of auditing are:To confirm the accuracy and fairness of the financial accounts and to look for fraud or mistakesTo recommend changes to a business’s operations in order to gain the confidence of regulators, investors, and consumers Additionally, there are several kinds of audits, such as financial audits (examining the financial side).Operational audit […]
PROCUREMENT PROCEDURE NGO
Procurement Planning and Request: The asking department must clearly define its needs before beginning any procurement activity. The purchase Officer must receive a formal purchase request that includes specifications, projected expenses, and a justification. Goods and services that further the NGO’s objective will be given priority, and all purchases must comply with donor standards and […]
HUMAN RESOURCES PROCEDURE NGO
Hiring and Recruitment: To guarantee equitable and efficient hiring procedures, the Human Resources (HR) division shall supervise all recruiting-related operations. Job vacancies will be properly described and publicized via the proper methods. A panel will conduct structured interviews after applications have been vetted based on qualifications. The HR manager must approve final personnel decisions to […]