Environmental Project's Achievements Reports Query System

2006 and 2007 Agreed -Upon Procedures to Implement the Environment Protection Foundations’ Operational Condition and Financial Statement Audit

Absrtact	To identify and analyze Environment Protection Foundations’s operational and financial condition and evaluate their performance, the Economic Protection Administration (EPA) carried out the plan, started form May 2008 to November 2008, called “2006 and 2007 Agreed_Upon Procedures to Implement the Environment Protection Foundations’ Operational Condition and Financial Statement Audit.” There were 32 foundations in that Project. EPA planner to outsource an accounting firm with the independence, profession, and experiences to examine financial and non-financial information flows that impacted the financial statements and provided any analysis, findings, and recommendations. According to §12 by “The institution and the Supervision of the Environmental Protection Foundation.” to examine financial and non-financial information flows. The agreed-upon procedures display the following important findings: 1.The custody and use of the assets: one foundation purchased, disposed, or mortgaged fixed assets without EPA’s approval. One foundation held investments, not related to its mission of the foundation. One foundation’s land and construction without fire insurance. 2.The financial situation: Three foundations did not generate any invoices when the transactions occurred. In addition, five of them did not have any proper procedures to record the expenses and four of them did not reconcile their account balance with banks periodically. 3.The accounting policies and transactions: There are nine foundations not having the hard copy to record all accounting transactions, six of them did not record the some transactions appropriately on their expenses and receives, and ten foundations’ part expense without legally voucher. 4.The implementation and the effectiveness of the foundations: Three foundations did not reelect the directors and controllers and violated the EPA rules. Also, five of them did not present the budget and financial report to EPA on time and three foundations didn’t hold the board meeting twice a year. And, one of them did not implement the business by its Article of Incorporation. Based on the agreed-upon procedures, we, Evershine CPAs Firm, present the findings and recommendations to EPA.
Keyword	agreed-upon procedures, environmental protection foundation, financial and business

Absrtact

To identify and analyze Environment Protection Foundations’s operational and financial condition and evaluate their performance, the Economic Protection Administration (EPA) carried out the plan, started form May 2008 to November 2008, called “2006 and 2007 Agreed_Upon Procedures to Implement the Environment Protection Foundations’ Operational Condition and Financial Statement Audit.” There were 32 foundations in that Project. EPA planner to outsource an accounting firm with the independence, profession, and experiences to examine financial and non-financial information flows that impacted the financial statements and provided any analysis, findings, and recommendations. According to §12 by “The institution and the Supervision of the Environmental Protection Foundation.” to examine financial and non-financial information flows. The agreed-upon procedures display the following important findings: 1.The custody and use of the assets: one foundation purchased, disposed, or mortgaged fixed assets without EPA’s approval. One foundation held investments, not related to its mission of the foundation. One foundation’s land and construction without fire insurance. 2.The financial situation: Three foundations did not generate any invoices when the transactions occurred. In addition, five of them did not have any proper procedures to record the expenses and four of them did not reconcile their account balance with banks periodically. 3.The accounting policies and transactions: There are nine foundations not having the hard copy to record all accounting transactions, six of them did not record the some transactions appropriately on their expenses and receives, and ten foundations’ part expense without legally voucher. 4.The implementation and the effectiveness of the foundations: Three foundations did not reelect the directors and controllers and violated the EPA rules. Also, five of them did not present the budget and financial report to EPA on time and three foundations didn’t hold the board meeting twice a year. And, one of them did not implement the business by its Article of Incorporation. Based on the agreed-upon procedures, we, Evershine CPAs Firm, present the findings and recommendations to EPA.

Keyword

agreed-upon procedures, environmental protection foundation, financial and business