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S/N Code Guideline Code ID Response(select whichever is applicable)Explanation(if Code guideline is not complied with)Financial Management and Internal Controls19 There is a documented policy to seek the Board%u2019s approval for any loans, donations, grants or financial assistance provided by the charity which are not part of the charity%u2019s core charitable programmes.6.1.1 Complied The Association does not provide loans, donations, grants or financial assistance to staff or external parties. This policy is documented in the Employee Handbook. The Employee Handbook and amendments are approved by the Management Committee.20 The Board ensures that internal controls for financial matters in key areas are in place with documented procedures.6.1.2 Complied The Association has established policies and procedures for key areas such as finance, donations management, membership management, human resource management and procurement.Delegation of authority and approval limits for key financial operations are documented and complied with. Spending limits and payments approvals are also set in the Constitution.21 The Board ensures that reviews of the charity%u2019s internal controls, processes, key programmes and events are regularly conducted.6.1.3 Complied The Association has an internal auditor who reviews the internal controls, processes key programmes and events. The internal audit reports are reviewed by the Audit and Risk Committee and reported to the MC. 22 The Board ensures that there is a process to identify, and regularly monitor and review the charity%u2019s key risks.6.1.4 Complied The MC has a documented Risk Management policy. The MC regularly monitors and discusses risks such as funding, manpower, resources, PDPA and IT risks. 23 The Board approves an annual budget for the charity%u2019s plans and regularly monitors the charity%u2019s expenditure.6.2.1 Complied The MC through the oversight of the Treasurer approves the Association%u2019s annual plan and budget. Revenues and expenditures are reviewed by the MC bi- monthly.24 Does the charity invest itsreserves (e.g. in fixed deposits)?Yes The Association has cash reserves placed in fixed deposit with 3 local banks.3225TH ANNUAL REPORT | 2023 - 2024