In a recently issued audit report, the Irish Red Cross were criticised by their auditors over several matters including:
- how the charity manages restricted funds;
- how over €120,000 was deducted from four humanitarian appeal funds, as an administration charge without proper back-up to justify this;
- not all travel and subsistence claims were backed up by receipts; and
- for the lack of a proper purchase order system for spending money drawn down from overseas project funds.
For more on best practice in the Audit of Charities, see our up to date webinar here.
Also watch out for our new fully updated AML Policies & Procedures Manual coming later in June 2019 – includes the latest requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Acts, 2010 to 2018 which came into force on 26 November 2018.
For on-demand webinars on AML and developments in Investment Property Accounting, FRS 105, Common Errors in FRS 102 Accounting and the latest on FRS 105 and company law, visit our online webinar training website. Once viewing is completed customers will receive a CPD Certificate confirming their learning.
