Financial Management System

KNUS emphasizes the importance of a good an authentic accounting system and substantial work has been done in maintaining the standards of accounts. International Accounting Standards (IAS) is followed in account keeping and International Financial Reporting Standards (IFRS) are used in all reporting of KNUS. 

KNUS has its own transparent financial management system that’s also comply with donor’s requirements. KNUS maintain both accrual and cash basis accounting and follow the double entry accounting system. Keep accounts both the way of manually by software also. 

The mother Bank Account of the organization is operated by the joint signatures of the Chairperson, Secretary and the Treasurer of the organization with the help of approved EC meeting resolution and the approved money is transferred to the project accounts as per the approved budget. The project accounts are operated by the joint signatures of Executive Director, Accountant and the Coordinator.  

KNUS has internal audit system for the financial control & yearly external audit is done by the govt. approved chartered accountancy firms. The standard tools and system are followed for the reporting and financial statements for the regular project. The recommendation of yearly audit gives proper feedback on the financial matters. Institution building is aimed at building an institution at the local level to be managed by the disadvantaged and poor women. Financial Self-reliance has been focused for group members of the grassroots people. Education and consciousness has been intended to develop skilled human resources for the organization and at the grassroots by imparting knowledge through training. The organization has engaged in conducting the field-base pilot study, which can contribute to the beneficiaries by developing a suitable technology and seems to be affordable for the program participants