FINANCIAL MANAGEMENT SYSTEM

ASD has a financial manual with generally accepted accounting principles and procedures to maintain a proper and transparent financial management system. Finance Department headed by a Finance Manager with due authority and manpower and equipped with computerized accounting software manages the financial affairs of the organization as per financial manual, government instructions and donors’ guidelines.

Branch/project officials are duly authorized to deal with financial affairs of their respective areas under proper supervision and budgetary control of the Head Office. Internal and external audits are conducted on regular intervals. Feedbacks are sent to the relevant sections for making improvements and taking necessary corrective measures.

Monthly/quarterly/semi-annual/annual financial reports are prepared and submitted to the Executive Director for authorization who in turn submits these reports to EC meetings and AGM and concerned Government and Donor agencies and as per their needs. External Audit Reports are done by the Govt. and Donor approved Audit Firms and submitted to the above agencies as per timeframe.

Sound financial management of ASD is critical to the effective, efficient use of its resources. The funds granted to ASD are entrusted to it by development partners for the use on behalf of beneficiaries/participants. The ability to provide accurate, complete and timely financial information enables ASD to comply with the rules and regulations of its donors, governments and regulatory agencies. Accurate and timely financial information also assists in decision-making and enhances ASD’s ability to attract more funds from its Development Partners.