Church Accounting Management And Control-Audit Perspective – Part 3
By Pastor J. A. Adeyokunnu APPOINTMENT OF PROVINCE INTERNAL AUDIT TEAM The Province Internal Audit Team can be appointed by the Provincial Pastor or his representative either by: I. Appointing all the members of the internal audit team and name one as team leader OR II. Appointing the team leader while he appoints his team […]
Church Accounting Management And Control-Audit Perspective – Part 2
By Pastor J. A. Adeyokunnu BANKING OTHER THINGS TO NOTE INTERNAL CONTROL SYSTEM All the necessary control should be put in place to ensure adequate security of cash, bank, stock, assets, books and records in the province. The controls can include: OTHER RECOMMENDATIONS REMARKS It is our opinion that if all the weaknesses mentioned above […]
Church Accounting Management And Control-Audit Perspective – Part 1
By Pastor J. A. Adeyokunnu THE FINANCIAL POLICY MAKERS The financial policies and guidelines must be formulated and approved by the General Overseer with input from: a. Finance/Accounts Department b. Salary Review Committee c. Others IMPLEMENTATION Policy and guidelines once formulated, must be implemented at all levels by all responsible officers of the church. MONITORING […]
The Role Of Finance Department In The Growth And Development Of The Church – Part 1
By Pastor J. A. Adeyokunnu The finance department is the backbone of any organization’s operations and processes. It records operating transactions, analysis them and prepares financial statements that inform top management regulators and investors about an organization’s economic health. The finance department also ensures that internal mechanisms and policies comply with regulatory standards, industry practices […]
Ethical Issues Facing The Accounting Profession – Part 2
By Pastor J. A. Adeyokunnu Punishment For Violating Professional Ethics When accountants break these ethical codes or they’re accused of breaking them, they’re subjected to investigation and review by the authority. The review process is much like a trial; the facts discovered by the investigation during the hearings help authority to mete out appropriate punishment. […]
