Accounting Procedures Manual for Football Association of Malawi

16672 WordsSep 15, 201167 Pages
PREFACE Introduction This Accounting Procedures Manual has been prepared by Christopher Mdolo-ACCA(CPAM) for Football Association of Malawi. The manual provides comprehensive accounting policies, systems and procedures to ensure that FAM’s activities are implemented in a transparent and accountable manner using appropriate financial pathways. The Manual will ensure that there is consistency, transparency and accountability on the part of those involved in undertaking the Associations transactions. Objective The broad objective of this Manual is to document, in simplified terms, accounting policies, controls, systems and procedures. The manual also ensures that the activities of the Association are accounted for in a…show more content…
Heads of Departments are responsible for implementing and co-coordinating their areas of operations. FAM will rely on external auditors for evaluating compliance and effectiveness of the accounting procedures and controls. 2 ORGANISATIONAL STRUCTURE OF THE FINANCE DEPARTMENT The Finance department is headed by the Accountant . The Assistant Accountants 1 & 2 reports directly to the Accountant. Figure 1: Overall Finance Department Structure [pic] 3 ROLES AND RESPONSIBILITIES 1 The Chief Executive Officer The Chief Executive Officer (CEO) of FAM reports to the Executive Members. The CEO responsibilities include among others: ◆ ensuring efficiency and effectiveness of operations of the Association; ◆ providing leadership and advice in the technical, commercial and administrative functions and in the general management of the organization and its resources; and ◆ formulating and implementing short, medium and long term strategic corporate plans. 2 Accountant The Accountant is in-charge of the efficient and effective operation of the Finance Division of FAM and reports directly to the CEO. The responsibilities of the Accountant include: ◆ compiling of annual budgets and presenting to the Board for approval; ◆ managing the Association’s finances and administration of the Finance Department; ◆ presenting quarterly and annual accounts to the

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