AUDIT RECOMMENDATIONS

 

 

            We find it hard to conduct our audit on the following observations:

 

1.   Cash received by the treasurer were not deposited intact to the depository bank.

 

2.   Disbursements were not properly explained for lack of a disbursement voucher.

 

3.   Our only trails on transactions were the entries posted on the savings passbook.

 

4.   Several transactions did not appear in the savings passbook.

 

 

We recommend to the executive board to formulate policies as follows:

 

1.   The treasurer shall keep a cashbook to record cash receipt and disbursement.  The cashbook shall show a column for cash receipt, cash disbursement and the running cash balances.

 

2.   That the treasurer shall issue an official receipts on all cash she received.

 

3.   That the treasurer shall prepare a disbursement voucher on all cash disbursement paid and be approved by duly authorized officers/s.

 

4.   All cash receipt shall be deposited in the depository bank and all cash disbursement shall be made thru withdrawal from the depository bank.

 

5.   The executive board shall approve non-budgetary disbursement.

 

(Sgd.) WILFREDO A. ANAS

           Auditor

           Fiesta Affairs 2006

 

(Handwritten Notes)

 

6.   (DELETED) Setting up of Petty Cash Fund of P5,000 – OK

 

      6.    The treasurer is allowed to have P5,000 Cash on Hand.

 

7.   Shares of each agency shall be given immediately right after the canvassing.