Finance Hub: Financial Governance & compliance
In this section:
Audits
ICCP (Internal Control & Checking Process)
Audits
The accounts for all of our mission units are consolidated into one (ADW Diocese Group) and audited by an external auditor and filed with Charities Services, by 30 June each year. We audit the GDF (General Diocesan Fund) and ADW (Anglican Diocese of Wellington) Group.
ICCP - Internal Control & Checking Process
The ICCP is an annual process to support the external audit of the Diocesan Consolidated Annual Performance Report, specifically the internal controls used throughout the Diocese. It is NOT an Audit or a Review and is not intended to provide Assurance on the Mission Unit’s Financial Statements.
The ICCP checks the cash receipts and expenditure processes.
Cash Receipts
Review the value and frequency of banking.
Is source documentation attached to the transaction.
Of those transactions with documentation:
Does amount banked agree to documentation and show evidence of counting by two people.
Has the transaction been correctly recorded in the accounting system.
Has GST been handled correctly.
Expenditure
Is source documentation attached to the transaction.
Of those transactions with documentation:
Does amount paid agree to documentation and show evidence of payment by due date.
Has the transaction been correctly recorded in the accounting system.
Has GST been handled correctly.
A detailed report is provided to the Mission Unit showing the transactions checked and the results for each transaction. A summary is provided to the Diocesan office and Diocesan Auditors.
