ICCO COOPERATION REPORT – DCI-FOOD/2012/290717
2012-2013
Our examination revealed that all the beneficiaries accounts are up to date as noted in their bank statements for the Grant Contract with proper accounting for the period under review. – The Beneficiary(ies) must have a double-entry book-keeping system; Our examination revealed that all the beneficiaries accounts are within the frame-work of the double entry system of accounts as reflected and shown on all cash books for the period under review. – The accounts and expenditure relating to the Action must be easily identifiable and verifiable; Our examination revealed that all the beneficiaries accounts both in the financial report and budget are easily identifiable and can be easily verifed in the period under review. ERRORS AND EXCEPTIONS There were no errors and exception found. Management Comments Noted
2.1.4 RECONCILING THE FINANCIAL REPORT TO THE BENEFICIARY’S ACCOUNTING SYSTEM AND RECORDS FATUAL FINDINGS: The Auditor reconciles the information in the Financial Report to the Beneficiary(ies)’s accounting system and records (e.g. trial balance, general ledger accounts, sub ledgers etc.). Our examination revealed that all the beneficiary accounts both in the consolidated financial report had been reconciled with the general ledger and on all individual beneficiaries general ledger for the Grant Contract for the period under review.
ERRORS AND EXCEPTIONS: There were no errors and exception found. Management Comments Noted
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Johnson & Johnson