Finance

The Finance Department’s purpose is to safeguard ! nancial resources
through an appropriate internal control environment, with an
emphasis on ! nance and accounting policies and procedures;
e" ective budgetary control and asset and liability management.
The department’s services include coordination and preparation of
budgets, audited ! nancial statements, and quality ! nancial reports
for management, donors and other stakeholders. In view of this the
department aims to fully comply with the IFRS standards within the
next two years.
Regional and branch ! nancial information will be consolidated
to form part of the national society’s ! nancial statement. The
department will also enhance its advisory role to the senior
management and governance committees on key areas of interest
to the organisation such as investments through diversi! cation of
income streams.
In 2012 the Department aims to complete the automation of key
! nancial procedures while re-engineering the already existing one
in line with the strategy to reduce cycle time and enhanced access
to information.
This will also be enhanced by procurement of key business
intelligence software. The department will provide continuous
training for governance, ! nance and non-! nance sta" in order
to improve ! nancial knowledge and interpretation
The Finance Department’s purpose is to safeguard financial resources through an appropriate internal control environment, with an emphasis on finance and accounting policies and procedures; effective budgetary control and asset and liability management.The department’s services include coordination and preparation of budgets, audited financial statements, and quality financial reports for management, donors and other stakeholders. In view of this the department aims to fully comply with the IFRS standards within the next two years. Regional and branch financial information will be consolidated to form part of the national society’s financial statement. The department will also enhance its advisory role to the senior management and governance committees on key areas of interest to the organisation such as investments through diversification of income streams. In 2012 the Department aims to complete the automation of key financial procedures while re-engineering the already existing one in line with the strategy to reduce cycle time and enhanced access to information. This will also be enhanced by procurement of key business intelligence software. The department will provide continuous training for governance, finance and non finance staff in order to improve financial knowledge and interpretation.
 
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