MCCU Annual Report - page 105

MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
105
Members
Glenroy Griffiths
0
0
7
1
4
1
0
0
0
13
10
6
3
1
0
0
0
0
11
6
7
1
5
0
0
13
2
0
2
2
0
0
0
7
5
5
7
Possible
Meetings Attended Excused Absent
14
14
7
14
7
7
14
7
7
7
7
Kingsley Andrews
Tracey-Ann Allen
Joan White-McDaniel
Calvin Palmer
Jean Lee-Wright
Claudette Gayle-Foster
Junior Isaacs
Helen Campbell-Wint**
Jennifer Haslam
Ruthan Smile-Smikle
Barbara Chamberlain
** The member was ill during the review period and subsequently retired from the committee
The activities conducted during the year are summarized below:
New Members’Accounts
The audit of New Members’ Accounts was conducted during the review period to establish whether
there was adherence with the Credit Union’s established policy and procedures as well as external
regulations, such as the Proceeds of Crime Act. The audit established that there was the need for
improvement in a few areas. In light of this, appropriate recommendations were made to aid in
strengthening the controls or areas of weakness.
Audit of Salaries
The objectives for the examination of salaries were to ensure that the salary rates were appropriately
approved, payments were bona-fide and accurate. Checks were also made to ascertain whether
the necessary postings to the related ledger accounts were done and that there was compliance
with internal procedures as well as external regulations. One exception was observed, however it
was seen where the matter was resolved subsequent to the audited period.
ATM Cash Counts
ATM cash counts were done to ascertain whether adequate controls were in place to safeguard
cash and whether cash was properly accounted for. No material exceptions were revealed from
these audit activities.
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