Internal Controls over Fundraising

[delainem]

Hello,

Can someone give me some guidance/examples regarding good internal controls for fundraising activities (withing a private company environment)

Specifically I trying to determine how the fundraising is collected, disbursed, and controlled and ultimately assess the controls regarding accounting, custody and documentation.

I am looking for examples of some good Internal Control Questionnaires, flowcharts, and control/risks matrices for fundraising activities related to the above.

Thanks so much for sharing

Delaine

[jamiegisi]

Delaine,

In my opinion I think that the biggest issue that you are going to run into on this is figuring out a way to control cash collections. Is this fundraising going to be at events or door to door? I think that the best assistance with this is utilizing a prenumbered receipt book that is reconciled at the end of each fundraising event.

As far as controlling disbursements, to me all disbursements should be controlled through the company performing the fundraising. Meaning that they would have to do the disbursements and then they are reimbursed by the fundraising funds.

[auditnet]

Delaine,

It may help if you provide some details about the fundraising activity you anticipate as it could make a difference in terms of the controls etc.

You should be applying the same principles and controls as in a cash collection, receivables and payments review. Segregation of duties, control over the receipt, recording and disbursement of funds as well as any restrictions on fundraising imposed by the organization. If the fundraising is for a specific purpose then perhaps you should be looking at any covenants or contracts to ensure compliance issues are covered.

Here are some general links that may help

http://www.ukstandards.org/Admin/DB/003 ... 0audit.pdf

http://www.olgr.nsw.gov.au/charitable_what_controls.asp

http://www.charitycommission.gov.uk/pub ... ns/cc8.asp

http://www.disability-federation.ie/doc ... 202008.pdf

The Campaign Finance Committee has an audit guide: CFC Audit Guide for Campaigns with Receipts Million and Greater - 2003 Audit Guide

Jim Kaplan
AuditNet.org
The Global Resource for Auditors

[delainem]

Hello again,

Does anyone out there have some very good Job Descriptions for different audit levels, i.e., Staff Auditors, Junior Auditors, Senior Auditors, etc.

Please let me know as soon as you can.

Appreciate all of the help.

DM

[sarabon007]

Hi !
i am new in this forum and i want to learn from here.
i am student of accounting of jagannath university of bangladesh.
so i wish you guys will help me.
Thanks.