FINANCIAL AND ACCOUNTABILITY
This foundation is accountable to the donors, the Word Stroke Organisation stakeholders and the General public through a thorough account audit process. The account system is under the watch of the Accountant while the daily transaction is being superintendent by the Administrator. We make sure there is no hand-cash transaction by any donor or partner
to the Foundation. All transactions are through the dedicated bank account under the watch of the founder and maintenance of
professional accountant. There is double approval for every transaction initiated by the administrator, first through the accountant and final approval by the founder. All purchases are receipted and the receipts are kept for financial auditing monthly and quarterly by the internal auditor and every six months by the appointed external auditors.
The Management is answerable to the Board of Directors who is answerable to the stakeholders for the financial management of the foundation. We ensure correct, adequate, appropriate and accountable use of funds and other resources and to assist in the maintenance of controls, provide a training and monitoring of resource which will be used as a reference document
during auditing by independent auditors and other stakeholders.
This is to:
a) To enhance completeness and accuracy of the data posted from source documents. i.e. invoices, payments receipts, journal and cashbook to the computerized system.
b) To provide accurate and reliable reports to enable management to perform effective control over the operations of the organization.
c) To detail the operation and administration procedures for input, processing, output and
distribution of data to ensure security of data and documents.