An article in the Chartered Accountants’ Journal, October 2005 issue, stressed the following lessons which not-for-profits need to heed:
- No one should ever sign a blank cheque
- An auditor gives the membership confidence that the financial representations of the Board are true and fair
- Minutes need to be produced immediately after the meeting and circulated for comment in order that they can be acted upon
- The skills of basic bookkeeping (should be) part of life skills (Volunteering Canterbury offers mentoring and workshops in this area).
- Unless accountability is enforced….over time weak internal controls will be exploited by someone. Ruth Gardner
