ID EGM-AC-01 Name Financial & Accouting Management Revision 3 Approved By Lisa Moore Approved Date 01/03/2021 Review Date 2023
East Galway & Midlands Cancer Support: EGM
EGM-MA-01 Master List of Policies and Procedures
When the goods are delivered, the delivery docket shall be checked against the goods received by those working in the office or the Support Worker on duty. The delivery docket shall be kept in the office until the invoice has been received and verified.
If any shortage, discrepancy or damage to the goods received is noted, the supplying company shall be notified immediately by the person who initiated the order, and a note shall be made on the delivery docket for the attention of the Finance Chairperson. Arrangements shall be made to return damaged or faulty goods to the supplier without delay.
When the invoice for the delivered goods is received by the Finance Department, the Finance Chairperson shall enter the details into the computerised accounts programme.
The Finance Chairperson shall raise a cheque for the correct amount or initiate an Electronic Fund Transfer.
The Chairperson and Finance Chairperson shall counter-sign all cheques.
All post received shall be opened and recorded by whoever is working in the office, if there is money then a support volunteer will be asked to come and verify the amount before it is recorded and placed in the safe. This shall ensure accountability in relation to all monies received through the post.
All monies received through the post or in any other manner shall be acknowledged/receipted using the official Receipt Book.
A receipt shall be confirmed by two signatures.
Monies received from external agencies relating to revenue funding shall be duly receipted using the official Receipt Book.
All general donations or donations relating to specific fundraising events shall be receipted and accounted-for in accordance with Fundraising Management policy.
The IT Manager shall record all passwords for the accounts systems and shall maintain this information in a secure encrypted file.
All monies (cheques or cash) received shall be receipted and signed-for by two people (one of whom must be a staff member), shall be lodged into the Bank as quickly as possible, and entered onto the accounts system.
Any fraud or theft that is detected or suspected shall be reported immediately to the Finance Chairperson, Centre Manager and Chairperson of the board, and an Incident Report completed by the person detecting or suspecting fraud/theft. The
The Chairperson and Centre Manager shall have primary responsibility for the investigation of all suspected fraud or theft and shall co-ordinate all investigations. Investigations may be internal or may involve external agencies such as An Garda Síochána.
Free and unrestricted access to all company records shall be made available to the investigation team, who shall have liberty to examine, copy and or/remove all or any portion of the contents of files, desks, cabinets and other storage facilities on the premises without prior knowledge or consent of any individual who may use or have custody of any such items. CCTV recordings shall, if appropriate, be reviewed as part of the investigation. In exceptional circumstances, covert CCTV surveillance may be arranged in support of the investigation.
If the investigation substantiates that fraudulent activities have occurred, the Chairperson shall issue a report to appropriate personnel, and to the Board of Directors.
Decisions to instigate disciplinary procedures, to prosecute or to refer the investigation results to the appropriate law enforcement and/or regulatory agencies for further investigation or action shall be made in conjunction with EGM’s legal advisers and senior management.
Corrective action and recommendations to prevent recurrences of fraud shall be put in place including fraud education/training with a risk analysis of areas of vulnerability and pro-active fraud auditing.
A full external audit shall be conducted by the nominated independent Auditors on an annual basis.
The annual audit shall include a thorough check on all monies received and all payments made. The audit shall include a review of accounting processes and safeguards in place.
A full report on the annual audit shall be sent by the independent auditors directly to the Chairman of the Board of Directors, with a copy to the Chairperson, Finance Chairperson and Director of Services.
Upon receipt of this Auditors’ Report, a meeting of the Board shall be convened. A representative of the independent Auditors shall attend the meeting.
The Annual General Meeting of the Board shall then be convened. At the AGM, the Finance Chairperson shall report on the Auditors’ findings.
Having discussed the matter fully and have addressed the concerns (if any) raised by the Independent Auditors, the Board and Committee shall approve the Annual Accounts, which shall then be made available to the appropriate external agencies, including the Companies Office.