Nonprofit organizations are essential to the life and forward movement of communities. They enrich the quality of lives and promote the highest societal values. Volunteers, businesses, board members, and employees become involved with a nonprofit because of the organization’s public benefit mission. Therefore the continued success of L.A.C.E. requires broad public support and confidence.
Accordingly, the Institute’s Internal Control System is designed to get reasonable assurance about effectiveness and efficiency of operations, reliability of financial and statistical data, and compliance of applicable rules, regulations, and procedures. Management's integrity, attitude, actions, and ethical values help to raise consciousness control among the staff. The Institutes management believes that controls are important to achieve its objectives and communicates its view to staff at all levels. Clear policies and procedures, documentation process, table of authority, segregation of staff duties, supervision and accountability have made the organization transparent. Considering the internal control a continuous process, the Institute periodically reviews the system and makes modifications according to circumstances. At the top of its control mechanism, there exists the willingness of the Institute’s governing body to ensure internal control and transparency.
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