Changes in Financial Processes Afoot
Ric Carlyon - Monday, August 03, 2015
At its last meeting Council members decided to improve processes to meet several objectives. A report from the Registry Support and Finance Committee proposed amendments to ensure financial matters comply with best practice, to provide for the change to Xero electronic processing, and to comply with changes recently introduced by the Charities Commission. In addition, casting an annual budget has had a make-over. Council was told the changes will review and streamline processes while at the same time observing fiduciary and legal matters. This will result in the Association’s finances being easier to understand and more transparent. It was also noted that the end of year had changed: 30th June instead of 31 August and that, in line with reviewed Charities Commission provisions, the Association's accounts will be subject to review rather than audit.
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