Accounts Maintaining System of SSKS:

The accounting system is based on accrual basis and on the system of double entry book keeping. It may be mentioned here that the sue of journal Voucher should be introduced to make the accounting system as ‘accrual’.

The method for any expenditure or income which has not been met up by cash money for certain period but recorded in the books of account through Journal Voucher (J/V) is called “accrual basis”. e.g. an amount for ‘salary’ and ‘Cr.” Under ‘Provision for Salary head.

According to the rules of double entry system, each entry is always entered in two different account i.e., every debit must have it s corresponding credit. The primary books of account like cash book, general ledger etc. has to be maintained at all accounting affairs following the principles of double entry system.

The primary documents are:

1.  Money Receipts
2.  Debit Vouchers and
3.  Journal Vouchers

The information on the above mentioned documents are recorded on to (i) Receipts/Payments Statements, (ii) Cash/Bank Books by each and every location of SSKS where financial activities take place.

Banking System of SSKS

As per SSKS’s constitution all fund/ money of SSKS are deposited in the banks recognized by the Government of the People’s Republic of Bangladesh. The President, Executive Director and the Treasurer (Any Two Signatory) jointly operate bank accounts of SSKS.

If need, more accounts can be opened and jointly be operated by the Executive Director and any other officer/ worker with the prior approval of the President of the Organization. Approval of the Head Office is essential to open the Bank Accounts for the branch office. The nominated persons of the President and the Executive Director jointly operate Bank Accounts of the branch offices.

Auditing System of SSKS

SSKS has a transparent management system. To ensure the proper implementation and management of activities, organization should observe the quality and accuracy of it through a third eye. Auditing procedure of SSKS works as the third eye of the organization.

Two types of audits are conducted by the organization. These are as follows:

1.  Internal Audit
2.  External Audit

Internal Audit:

Internal audit is conducted by the internal audit team. Though internal audit team is guided by the Executive Director & President, it works independently.

External Audit:

External Audit is conducted by the government recognized audit farm. Generally the Head Office accounts of the organization are audited by the external audit farm.

Auditing Issues:

The auditing issues are as follows:

•  Office Management;
•  Group Management and
•  Accounts Management

Frequency of Auditing:

•  Annually both external and internal audit
•  Midterm audit is conducted on specific project
•  Final audit is also conducted in the case of completion of specific project.