Financial Management

Checks and Balances  (suggested learning time: approximately 50 minutes)

1. Does the IMC appoint a certified public accountant (practising) to audit the annual school account?
2. Is the accounting system of your school transparent to facilitate internal and external control?

1. Please read Chapter 5 “Checks and Balances” of “Guide to Financial Management for Aided Schools Operated by Incorporated Management Committees”.
2. Activity: Measures to Internal Control
3. Quiz: Checks and Balances
   Start here

1. Paragraph 6.5 “Accounting and financial control”, paragraph 6.6 “Internal control” and paragraph 6.7 “Annual audited accounts” in Chapter 6 “School Finance Matters” of the School Administration Guide
2. Chapter 3 “Internal Control” of “Governance and Internal Control in Schools”
3. Education Bureau Circular No. 3/2022 - Acceptance of Advantages and Donations by Schools and their Staff
4. Education Bureau Circular No. 5/2014 - Appointment of Auditors and Audit Engagement Letter

Back to Progressive Learning Journey for School Managers