Answer: The current bookkeeping practices are insufficient, leading to potential inaccuracies in financial reporting.
Trend: There has been a noticeable increase in discrepancies over the past few quarters, raising concerns about financial integrity.
List: Immediate actions needed include reviewing all financial records, implementing stricter documentation processes, and providing training for staff on proper bookkeeping standards.
Finding Text
Inadequate Bookkeeping and Financial Documentation
Corrective Action Plan
Implement a standardized bookkeeping system(ie Quickbooks) establish documentation protocols for each donation or expense, and ensure each transaction identifies: Who initiated it, What was it for, When it occurred, and How it was processed.