CHAK cherishes integrity, accountability, efficiency and professionalism in managing financial resources. CHAK’s Finance and Administration team is composed of professionals competent in accounting, budgeting and financial management.

In addition CHAK Secretariat has embraced IT to enhance efficiency in financial records keeping and reporting, making full use of the Pastel Accounting Software which is internationally marketed and supported. All financial transactions are computerized and integrated, including the Assets Register or inventory.

An Annual Operational Plan and Budget is prepared at the beginning of each year for CHAK core/administrative budget and various projects. This is reviewed by the Finance Committee and approved by EXCO. Financial reports on budget monitoring are submitted quarterly to EXCO through the Finance Committee.

Financial transactions and procurements are guided by a policy document, Finance and Property Procedure Manual. Compliance with approved budgets and procedures is assured through Internal Audit, which is guided by an Internal Audit Policy document. External Audit of all CHAK accounts is conducted annually by Certified Public Accountants appointed by the AGM and their report submitted to the AGM after being reviewed by Finance Committee and EXCO.

Financial reporting to donors and external audit of project accounts is done every six months or as stipulated in the donor contracts. CHAK Secretariat has also embraced Web Banking to further enhance efficiency in banking transactions and monitoring of Bank Accounts for timely reconciliation and donor reporting.