Fraud Management Policy

WhatsApp/Call: + 27 84 313 7407 Email: info@saypro.online

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Email: info@saypro.online
Call: + 27 11 071 1903
WhatsApp: + 27 84 313 7407
  • Financial Principles SayPro adheres to:
  • Consistency: The financial policies and systems of the SayPro consistent over time. Promotes efficient operations and transparency, especially in financial reporting.
  • Accountability: SayPro explains how it has used its resources and what it has achieve as a result to all stakeholders, including beneficiaries. All stakeholders have the right to know how their funds have use.
  • Transparency: SayPro open about its work, making information about its activities and plans available to relevant stakeholders. Includes preparing correct, complete, and prompt financial reports and making them accessible to stakeholders, including beneficiaries.
  • Sustainability: To financially sustainable, SayPro’s expenditure kept in balance with incoming funds, both at the operational and the strategic levels.
  • Integrity: On a personal level, individuals in SayPro run with honesty and propriety. The integrity of financial records and reports is dependent on the accuracy and completeness of financial records.
  • Accounting Standards: The system for keeping financial records and documentation adhere to internationally accepted accounting standards and principles.

 

  • Auditors
  • SayPro financial records shall audit on an annual basis by a reputable and registered independent Auditing Firm.
  • The Board propose the appointment of the auditors to SayPro members for their approval at the Annual General Meeting.
  • For recording and reporting purposes a month shall record as a calendar month and each fiscal year shall begin on the first day of March and end on the last day of February.
  • The Auditee Financial Statements complete each year timeously for SayPro Annual General Meeting.
  • The Auditee Financial Statements reviewed and approved by the board of the SayPro on an annual basis.

 

  • Financial Management
  • Financial Management entails planning, organizing, controlling, and checking of the financial resources of the SayPro to achieve its aims. The fiscal responsibility of the economic management of the SayPro PROJECT lies with the Board of the SayPro.

 

  • Financial Management includes:
  • Managing risk: All organisations face internal and external threats which can threaten its operations and even its survival (e.g. delegates cancelling classes, an office fire, or a fraud). Risks found and actively manage in an organised way to limit the damage they can cause—a separate Risk Management document drawn up.

 

  • Managing strategically: Fiscal management is part of management. Means that The Chief Executive Officer and the Board keep an eye on the ‘bigger picture’ looking at how the whole organisations finance in the medium and long term, in addition to focusing on Projects and Programmes.

 

  • Managing by aims: Fiscal management involves close attention to project/Programme and Organisational objectives. The fiscal management process review continually. Every staff member has a responsibility to manage finances according to the organization’s goals.

 

  1. Budget
  • SayPro staff try to respect all approve budgets and strive to manage expenditure according to the budgets as far as possible.
  • All cost center managers try to find creative ways to reduce running costs where possible.

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