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AUDITING SERVICES FOR NON PROFIT
COMMUNITY SERVICE ORGANISATIONS
Over
the last decade CMAP has received many client requests for auditing
services and to date we have assisted client organisations in preparing
for their external audit, both through onsite support and formal training
seminars. The Project is pleased to announce that in addition to our
Management Advisory Project we are now able to offer qualified auditing
services to fellow not for profit community based organisations. The
Project strives for our client organisations to view our audit as a
value-added tool for helping the development of their organisation,
rather than a passive watchdog function. By focusing on your
organisation, our approach not only helps provide a better audit, but
also gives us a springboard for constructive recommendations on your
operations where required.
Our
financial audits are performed to form an independent opinion on the
integrity of the financial information being presented and to establish
reliability on the means by which it is reported. Most financial audits
are undertaken within the context of the Australian Accounting and
Auditing Standards and covered by legislation such as the Corporations
Act. On occasions funding bodies may also create contract conditions in
their service agreements that community based organisations must comply.
The Project is not only qualified to undertake financial audits but has
extensive familiarity with funding body requirements and the workings of
community sector organisations (Management Committees, paid staff, and
volunteers) and their relationships with federal and state government
funding bodies.
Mr.
David Beddoe, coordinator of the Project, has had the opportunity to gain
an extremely wide range of experience assisting not for profit community
organisations. Involvement with community organisations of all sizes, has
rounded his exposure to, and appreciation of, problems facing Management
Committees and Coordinators. This enables him to not only provide quality
audit service, but also to give meaningful support to his clients.
Current client organisations of the Project include: neighbourhood
centres; youth centres; childcare centres; transport groups; home and
community care organisations; resource centres; advocacy groups; and
family support services to name a few.
This
is an unfunded project and audits will be undertaken on a not for profit
fee for service basis to community based organisations only. If you would
like more information on this or any other services offered at the
Project please do not hesitate contacting us on 0407 943816.
MID FINANCIAL YEAR
REVIEW
The Community Management Advisory Project is able to offer mid year
review services to fellow not for profit community based organisations.
Our reviews of financial reports are performed to form an independent
opinion on the integrity of the financial information being presented mid
year and to establish reliability on the means by which it is reported.
Not
for profit Management Committees review their projects throughout the
year, regularly analysing the finances, programs, and mission of the
organisation. A mid-year review process can give Committees the time and
information they need to do their job well. The Project is not only
qualified to undertake mid-year reviews but has extensive familiarity
with funding body requirements and the workings of community sector
organisations (Management Committees, paid staff, and volunteers) and
their relationships with federal and state government funding bodies.
The
mid-year report is a management tool that should not be skipped. It
alerts board members to the organisational financial difficulties or
unexpected successes. Six months is an appropriate time to step back and
take a thorough look at what is happening. Twelve months may be too long
to wait.
The
primary benefit is the opportunity to look down the road and evaluate
whether there is a need for mid-stream adjustments. If the programs or
finances are suffering, the organisation is alerted to search out the
root cause and get back on track. The report helps the board to determine
what they can do to turn the agency around. The board should also talk
about the implications for the rest of the fiscal year. If, on the other
hand, if things are going exceedingly well, what are the reasons? Can
those reasons be leveraged? What are the implications for the future of
the agency? If there is an opportunity for expansion of program, how is
that going to be woven into the overall plan of the agency? Are you going
to end up with a surplus?
Normally our review engagements involve
limited procedures comprising inquiries concerning:
1.
accounting
practices and principles;
2.
procedures for
recording, classifying and summarising transactions;
3.
accumulating
information for disclosure in the financial report;
4.
preparing the
financial report; and
5.
material assertions
in the financial report.
Analytical procedures will be
undertaken to identify relationships and individual items that appear
unusual and will normally include:
1.
comparison of the
financial report with the reports of previous years; and
2. comparison of the financial report with anticipated
results.
This is an unfunded project and reviews will be undertaken on a
fee for service basis to community based organisations only. For more
information on this or any other services offered at the Project please
do not hesitate contacting us on 0407 943816.
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