Financial control and monitoring

Question 1

What does Bragg (2007) mention as the most common common types of fraud?

Answer 1

1. Cash and investment theft
2. Expense account abuse
3. Fixed assets theft (e.g. computers)
4. Inventory and supplies theft
5. Purchases for personal use
6. Supplier kick backs

Question 2

What does Glover VLE say about fraud and audit?

Answer 2

About 10% of teaching bans to do with misuse of funds. Audit is essential to stop this.

Question 3

What is the difference between monitoring and evaluation?

Answer 3

Monitoring - takes place through the year with regular checks
Evaluation - more strategic than monitoring - not concerned with detail but with how it meets overall objectives

Question 4

What does Hope (2006) say evaluation should be concerned with?

Answer 4

1. Strategy execution
2. Resource management
3. Operational effectiveness
4. People Management
5. Risk management

Question 5

Who mentions these as the most common types of fraud?

1. Cash and investment theft
2. Expense account abuse
3. Fixed assets theft (e.g. computers)
4. Inventory and supplies theft
5. Purchases for personal use
6. Supplier kick backs

Answer 5

Bragg (2007)

Question 6

What is Hope’s context?

Answer 6

American but principles universally applicable

Question 7

What is the process for monitoring?

Answer 7

1. First profile the budget

2. Enter spending commitments

Question 8

Who says that about 10% of teaching bans to do with misuse of funds. Audit is essential to stop this.

Answer 8

VLE Glover