FA and A Department manages and controls all financial and accounts matters/functions in the Foundation, it deals with the Foundation’s accounting activities that include maintaining and reporting on both the cost and financial sets of accounts, records accounts payable and receivable, inventory, payroll, fixed assets and all other financial elements. Their key role tends to focus on immediate financial issues and management and also focus is to provide transparent, efficient and effective utilization of public money while abiding by all applicable Laws, Rules & Regulations governing the Foundation.
The Department is mainly comprised of two areas/sections
Fund Flow Management / Financial Records (FFM/FR)
This section of the Finance Department effectively manages budgeting and reporting, fund management, Payroll, Taxation, Liaison with auditors of Foreign Donors and office of Director General Audit, Sindh, Maintenance of Accounts as per Financial Rules; Matters relating to Banking; foreign debt & Foundation Funds.
Inter Control & Compliance (IC&C)
This section of the Finance Department checks and examines the compliance of cases in order to avoid audit objections and smooth process of financial/accounts matters of the Foundation. IC&C’s prime focus is to critically examine the processing of payments to SEF Stakeholders, vendors etc.
FINANCE, AUDIT AND ACCOUNTS DEPARTMENT MAJOR ACTIVITIES
Deduction of General Provident Fund, Benevolent Fund etc.
Framing, amendment and interpretation of the Financial Rules.
Matters relating to grants, loans,financial assistance and contribution.
Liaison with auditors of Foreign Donors and office of Director General Audit, Sindh.
Maintenance of Accounts as per Financial Rules.
Matters relating to Banking.
Matters relating to foreign debt.
Matters relating to Foundation Fund.
Matters relating to Departmental Accounts Committee and Public Accounts Committee.
Control and Compliance
Matters relating to Internal Controls and Compliance.
Matters relating to disbursement of subsidy.
Matters relating to Fixed Assets with annual depreciation.
Preparation of budget.
Processing and disbursement of salaries.
Release of funds from the Finance department, Government of Sindh.