Internal Audit

Manovikas make sure that proper controls in place so that money cannot be misused. Some basic controls adapted at Manovikas that are often used include:

• Keeping cash in a safe place (ideally in a bank account).

• Making sure that all expenditure is properly authorized through requisition.

• Following the budget.

• Monitoring how much money has been spent on what every month.

• Employing qualified finance staff.

• Having an audit every year.

• Carrying out a 'bank reconciliation' every month - which means checking that the amount of cash you have in the bank is the same as the amount that your cashbook tells you that you ought to have.

• This last control is particularly important. It proves that the amounts recorded in the cashbook and the reports based on it are accurate.