Policy for Financial Reporting
Transparency, accountability, and prudent financial management are all priorities for our non-profit. In compliance with donor requirements and generally accepted accounting standards (GAAP), we keep timely and accurate financial records that accurately reflect all transactions. The finance committee reviews monthly financial statements to make sure they align with our operating objectives and budget.
Quarterly financial reports are summarized for stakeholders, such as partners and donors, and shared with the board of directors to facilitate accountability and decision-making. These reports consist of balance sheets, cash flow analyses, and income and expense statements. Any significant departures from the authorized budget are described, and any necessary remedial measures are recorded and carried out.
Every year, an independent audit is conducted to confirm the accuracy of our financial procedures. To further demonstrate our dedication to transparency and sound governance, the audited financial accounts are made available to the general public. By ensuring that funds are spent efficiently and in accordance with our organizational values and goals, this financial reporting policy supports our purpose.
Author: Mohamed Yasin
