Optics and Electro-Optics Standards Council
Internal Financial Audit Procedure
This procedure covers all aspects of financial management
from invoicing to paying bills. The procedure is designed
to provide checks and balances to minimize the opportunity
for mismanagement of OEOSC's resources.
- Invoices for new and renewal membership will be
processed by the Administrative Assistant to the Executive
Director.
- Members and applicants for membership will be
instructed to send membership fees to the Executive
Director who will deposit the money in OEOSC's bank
account.
- The Executive Director will notify the Treasurer and
the Administrative Assistant what is received from whom and
what is deposited.
- The Executive will review monthly bank statements to
ensure that checks are written for the value on each bill.
- The OEOSC Board Chairperson will appoint one of the
directors to act as auditor of the contributor receipts.
- That director will select, at random, ten per cent of
the names on the OEOSC invoice list. Some of those who are
listed as having not contributed during the year should be
included.
- This director will send a letter those contributors to
confirm that they have or have not made their contribution
for the year.
- A report of the audit activity and results will be
prepared by the Executive Director and approved by the
Board. This report will be presented to the Certified
Public Accountant for review at the time the OEOSC tax
statements are prepared.
Sample Audit Letters
Dear __:
We are auditing our contribution records. They show that
you made a contribution to the Optics and Electro-Optics
Standards Council on _____________. If you did not make
this contribution please contact me at
Thank you for you help.
Dear __:
We are auditing our contribution records. They show that
you did not make a contribution to the Optics and
Electro-Optics Standards Council this year. If you did make
a contribution please contact me at
Will you share with us the reason that you decided not to
continue supporting the optics standards development
process? This information will help us to improve the
process.
Thank you for you help.