Financial Reporting and Audits

Purpose

To define the financial reporting and audit procedures.

Policy statement

Internal reports

  1. Monthly and Quarterly Income Statements shall be compiled and presented to the Board of Directors for review.

Financial audits

  1. The organization shall undergo a financial audit from an external Auditor on an annual basis, in line with the organization’s fiscal year.

Responsibilities

Board of Directors

  • The Board of Directors shall review all internal financial reports.

Treasurer

  • The Treasurer shall oversee the development of all internal financial reports and be the point of contact with the organization’s Auditor.

Executive Council

  • At the direction of the Chief Financial Officer, the Executive Council shall be responsible for following all financial reporting procedures.

Chief Financial Officer

  • The Chief Financial Officer shall compile and present monthly and quarterly financial reports to the Board of Directors.