Research Journal of Finance and Accounting ISSN 2222-1697 !a"er# ISSN 2222-2$%7 &nline# 'ol.%( No.

1)( 2*1)

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Effectiveness of Internal Control on the Finances of Churches in Greater Accra, Ghana.

,odson Ahia-or And .ollins .hristian /aw 0ensah Abstract 1he e2-e33le2ent and 2is2anage2ent of funds fro2 religious organisations "articularl4 in churches is -eco2ing co22on. Such disgraceful acts ha5e raised a lot of concerns a-out the effecti5eness of internal control s4ste2s in churches. 1he stud4 see6s to in5estigate the effecti5eness of internal control( deter2ine the internal "rocedures and to find out the inde"endence of internal control functions in churches. Keywords7 Internal .ontrols( 8ffecti5eness( .hurches( Finances. Introduction A "ri2ar4 lesson fro2 financial failures and colla"se of 2an4 institutions is that internal controls are essentials to coo"erate success and sur5i5al to e5er4 institution. Recent re"orts on 2is2anage2ent of church funds ha5e "ut into 9uestion the s4ste2 of internal control e:isting in religious organisations ;owrin( 2**%#. !oor control s4ste2s are usuall4 the cause of these acti5ities. <nderstanding the conce"t of internal control is i2"ortant for de5elo"ing and understanding its effect on the "erfor2ance of institutions. =e5elo"ing role of the internal control is also reflected in its current definition( which .ahill 2**6# defined as the s4ste2 of internal ad2inistrati5e and financial chec6s and -alances designed -4 2anage2ent( and su""orted -4 correcti5e actions( to ensure that the goals and res"onsi-ilities of the organisation are achie5ed. .hurches are religious organisations that are esta-lished 2ostl4 not for "rofit gains -ut to ser5e the religious needs of the "eo"le. 85er4 church should -e concerned a-out financial 2anage2ent and 2is2anage2ent in their organisation. It 2ust -e a "riorit4 of the church leadershi" to "rotect the church( its 2e2-ershi" and staff. I2"le2entation of "ro"er internal controls will lead to effecti5e and efficient o"erations of the organisation S"it3er( 2**+#. Internal controls ser5e a straightforward "ur"ose7 to detect fraud and errors >ieso( 2*1*#. 1his is es"eciall4 5ital for non-"rofit organisations( which de"end on "u-lic trust 2ore than other organisations ?ilhel2( 2**6#( and "articularl4 for religious non-"rofit organisations( which rel4 on "eo"le@s faith as well 0ulder( 1999#. 1his "roAect wor6 deals "recisel4 with churches which is a su-set of religious non-"rofit organisations. Problem Statement A co22on 2isconce"tion -4 2ost church leadershi" is to thin6 that internal control e:ists onl4 for the "ur"ose of detecting and "re5enting fraud. 1his 2isconce"tion has often discouraged church leaders or religious organisations fro2 i2"le2enting sound control "olicies -ecause the4 do not want to a""ear to -e untrusting. Baughlin 19$$# argued that the .hurch of 8ngland regards accounting as an acti5it4 that should not interfere with the 2ore i2"ortant s"iritual endea5ours of the .hurch of 8ngland. ?hen e:a2ining the use of internal controls in churches toda4( as co2"ared to secular organisations( it see2s that these churches are far -ehind. ?h4 aren@t the churches using "ro"er control "rocedures in the area of financeC !resentl4( a 2aAor "ro-le2 in churches is that the churches are not using a""ro"riate "rofessional 2ethods in the carr4ing out of the ad2inistrati5e acti5ities of the church( es"eciall4 in the area of finances. 0an4 churches ha5e the "erce"tion that all .hristian wor6ers can -e trusted hence there are a lot of cases of theft and fraud that goes on unnoticed. 1he donors also ha5e the "erce"tion that the4 are contri-uting to ,od and not 2an and all the4 want in returns is ;lessings fro2 ,od hence the4 aren@t interested in 6nowing what their contri-ution is used for. 1he -asic "ro-le2 to -e considered can -e stated in a 9uestion as follows7 Are churches using internal controls in the area of finance to safeguard assets and "re5ent losses fro2 theft( fraud( 2isa""ro"riations and how effecti5e are these internal control s4ste2sC b!ective of the study 1he general o-Aecti5e of the stud4 is to in5estigate the effecti5eness of internal controls on the finances of churches. S"ecific &-Aecti5es S"ecificall4 the stud4 see6s to 1. 1o in5estigate the e:istence of internal controls in churches 2. 1o deter2ine the internal control "rocedures in churches ). 1o find out the inde"endence of internal control functions in churches %. 1o e:a2ine the i2"act of internal controls s4ste2s on the dis-urse2ent of funds.

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Research Journal of Finance and Accounting ISSN 2222-1697 !a"er# ISSN 2222-2$%7 &nline# 'ol.%( No.1)( 2*1)

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"."literature review 1he conce"t of internal control is 5er4 5ital for 2ounting an understanding of its i2"act on the "erfor2ance of an organi3ation. Internal control s4ste2 of an entit4 is strictl4 connected to the structure used -4 2anage2ent of the entit4 to o5ersee the acti5ities of the organisation( or to what is defined as the entit4@s cor"orate go5ernance. Internal .ontrols hel" safeguard funds( "ro5ide efficient and effecti5e 2anaging of assets( and ensures "recise and accurate financial accounting. Internal controls ser5e a straightforward "ur"ose7 to detect fraud and error >ieso( 2*1*#. 0illicha2" 2**2# descri-ed internal control as a whole s4ste2 of controls( financial and otherwise( esta-lished -4 2anage2ent in order to carr4 on the -usiness of the enter"rise in orderl4 and efficient 2anner( ensure adherence to 2anage2ent "olicies( safeguard its assets and secure as far as "ossi-le the co2"leteness and accurac4 of the records. Internal control is a 2anage2ent tool which is i2"ortant for -oth "rofit and non D "rofit organisations. According to ?ilhel2( 2**6# internal control is es"eciall4 i2"ortant for non D "rofit organisations( which rel4 on "u-lic trust 2ore than other organisations. !oor internal controls lead to asset 2isa""ro"riations( corru"tion( organisational fraud and fraudulent financial state2ents 0iller( 2**)#. .hurches are non-"rofit organisations and as such the4 do not issue shares and their 2issions are not to 2a:i2ise "rofit. .hurch ad2inistrators 2a4 not -e accounta-le to shareholdersE the4 are accounta-le to 2e2-ers of the churches fro2 who2 ca"ital for the running of acti5ities co2es fro2. Recent re"orts on 2is2anage2ent of church funds ha5e "ut into 9uestion the s4ste2 of internal control e:isting in religious organisation ;owrin( 2**%#. !etro5its 2**9# defined internal control as the "rocess "ut in "lace -4 2anage2ent to "ro5ide reasona-le assurance regarding the achie5e2ent of effecti5e and efficient o"erations( relia-le financial re"orting and co2"liance with laws and regulations. Internal control is not Aust a single acti5it4 -ut a series of acti5ities "ut together -4 2anage2ent. 0windi 2**$# also defined Internal .ontrols as "rocesses designed and affected -4 those charged with go5ernance( 2anage2ent( and other "ersonnel to "ro5ide reasona-le assurance a-out the achie5e2ent of an entit4@s o-Aecti5es with regard to relia-ilit4 of the financial re"orting( effecti5eness and efficienc4 of o"erations and co2"liance with a""lica-le laws and regulations. 1hough there are differences in the two definitions( it can -e clearl4 said that -oth definitions 2a6e use of the sa2e conce"ts with the sa2e o-Aecti5es. 1he 2ain o-Aecti5e is to -alance asset "rotection with efficient o"eration. Internal controls consist of all the 2easures ta6en -4 the organi3ation for the "ur"ose ofE "rotecting its resources against waste( fraud and inefficienc4E ensuring accurac4 and relia-ilit4 of accounting and o"erating dataE ensuring co2"liance with the "olicies of the organi3ationE e5aluating the le5el of "erfor2ance in all organi3ational units of the organi3ation >a"lan( 2**$#. According to .unningha2 2**%#( Internal .ontrol S4ste2s -egin as internal "rocesses with the "ositi5e goal of hel"ing a cor"oration 2eet its set o-Aecti5es. S"it3er 2**+# sees internal control as a s4ste2 of "olicies and "rocedures that are "ut in "lace in order to ensure that the assets of an organi3ation are "rotected and that there is relia-le financial re"orting. In all( it is clear that internal control "la4s i2"ortant role in strengthening the internal "rocedures of churches in re"orting .In regard with ris6 assess2ent( it can -e clai2ed that it is the identification and anal4sis of rele5ant ris6s associated with achie5ing the -usiness o-Aecti5es >aragiorgos et al.( 2**9#. Fence( control acti5ities are the "olicies( "rocedures and 2echanis2s that enforce 2anage2ent@s directi5es Fe5esi( 2**+#. In line with the a-o5e( on the one hand the infor2ation and co22unication co2"onent refers to the identification( ca"ture( and co22unication of "ertinent infor2ation in an a""ro"riate for2 and ti2efra2e to acco2"lish the financial re"orting o-Aecti5es Aldridre and .ol-ert( 199%#. Finall4( it is co22onl4 acce"ta-le that internal control s4ste2s need to -e 2onitored in order to assess the 9ualit4 of the s4ste2@s "erfor2ance o5er ti2e. &n the other hand( Ir5ine 2**+# argues that internal accounting controls are Ga 2anifestation of holistic stewardshi"...consistent with a churchHs sacred agendaG and the4 assist it in achie5ing its s"iritual goals. Internal .ontrols should -e financiall4 i2"ortant to churches( since trust is an i2"ortant "art of non-"rofit organi3ations. According to 04ers 2*12# if 2one4 is dis-ursed for onl4 church -usiness( it is also an i2"ortant "art of a financial s4ste2( -oth for 2anagerial and ta: "ur"oses as well as to 5erif4 that 2one4 is not -eing dis"ensed fraudulentl4. John !. J. 2*11# said that the current en5iron2ent is ri"e for scandal and church leaders need to -e wise -4 co2"leting for2s and filing records will go a long wa4 to assist a church in case of an in5estigation -4 ta: authorities. Baughlin 19$$# argued that the .hurch of 8ngland regards accounting as an acti5it4 that should not interfere with the 2ore i2"ortant s"iritual endea5ours of the .hurch of 8ngland. 1he4 are allowed to e:ist to assist the created internal resourcing units( -ut their role is clearl4 li2ited. 1hus( "arish accounting s4ste2s are rudi2entar4( "recisel4 -ecause the4 actuall4 ha5e no "art to "la4 in this clearl4 de2arcated s"iritual unit. As suggested -4 Baughlin 19$$#( conflicts 2a4 e:ist -etween the sacred -elief s4ste2s within churches and the secular role of accounting. Internal control is li6el4 to -e 5iewed as secular rather than sacred( and as a result(

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considered irrele5ant and unnecessar4. 'entura and =aniel 2*1*# re"ort that although church financial disclosures are relati5el4 infre9uent and not unifor2 across churches( this deficit does not a""ear to alter the confidence of church 2e2-ers that their contri-utions are -eing used a""ro"riatel4. Shai-u( I. A. 2*1)# also suggested that fre9uent reconciliation of -an6 state2ents related to offerings 2ust -e instituted to a5oid an4 5acuu2 created for "eo"le to ta6e undue ad5antage to "ilfer church offerings and the need to ha5e a "urchase order that should -e used to control church "urchases and ad5anced "a42ents to ensure trans"arenc4. 1his ena-les on going 2anage2ent re5iew and control of church organisations finances. Financial re"orts "ro5ide the 5ital infor2ation needed to "lan( -udget and control church finances. In e5ent of resourcing crisis( accounting is relied on to "ro5ide infor2ation a-out the e:istence of such crisis so that action could -e ta6en to o5erco2e it Ir5ine( 2**+#. "."." #ethodolo$y 1his stud4 e2"lo4ed sur5e4 2ethod -ased on the use of a structured 9uestionnaire -oth closed and o"en-ended 9uestions# with follow u" "ersonal inter5iew one-on-one inter5iew# to collect research data. 1he research gathered -oth 9uantitati5e and 9ualitati5e data to address the issues raised on the research to"ic. 1he research ado"ted case stud4 2ethod -4 considering church leaders( 5oluntar4 wor6ers and church 2e2-ers as the target "o"ulation. 1his too6 "lace in 2*1). %esults and Analysis 1his section of the research "ro5ides a realistic anal4sis on the 2ain findings of a sur5e4 on the effecti5eness of internal control s4ste2 in the finances of .hurches. !resentation and discussion of findings was 2ade in this section. 1he 5arious res"onse and feed-ac6 on the 9uestionnaire were criticall4 anal4sed and discussed with su""orting ta-les. A total of +* 9uestionnaires and all were recei5ed with res"onses. 1he following are the res"onses for the 9uestionnaires distri-uted to the church. Awareness of Accountin$ and financial system in the church &able '.() &he church has an accountin$ and financial mana$ement system Res"onse Fre9uenc4 !ercentage Strongl4 =isagree ) 6I =isagree % $I Neither Agree Nor =isagree ) 6I Agree 2$ +6I Strongl4 Agree 12 2%I &otal (* "**+ Source: Field Data 2013 1he res"ondents were as6ed whether the4 had an4 6nowledge of an accounting and financial 2anage2ent s4ste2 -eing i2"le2ented in the church. 1hree res"ondents re"resenting si: "ercent strongl4 disagreed that there was such a s4ste2 in "lace. Four res"ondents re"resenting eight "ercent disagreed whilst twent4 - eight res"ondents re"resenting fift4 D si: "ercent agreed. 1here were twel5e res"ondents re"resenting twent4-four "ercent who strongl4 agreed. Commitment to the o,eration of the system &able '.-) %es,ondents. view on commitment to the o,eration of the system Res"onse Fre9uenc4 !ercentage Strongl4 =isagree % $I =isagree ) 6I Neither Agree Nor =isagree 9 1$I Agree 2) %6I Strongl4 Agree 11 22I &otal (* "**+ Source: Field Data 2013 1he researcher see6s to en9uire fro2 the 5arious res"ondents whether the4 were co22itted to the internal control s4ste2 in "lace. Results fro2 the anal4sis of the 9uestion re5ealed that e5en though 2aAorit4 of the res"ondents either agree or strongl4 agree that 2anage2ent of the church are co22itted to the o"erations of the accounting and financial 2anage2ent s4ste2s in "lace( so2e res"ondents thin6 otherwise. ;ut fro2 the data it is clear that 2anage2ent of the church are aware of the -enefit of i2"le2enting a sound financial 2anage2ent s4ste2 this 2a4 -e due to the fact that the relia-ilit4 of financial infor2ation can onl4 -e o-tained through the i2"le2entation of sound financial "rocedures which are ca"a-le of faithfull4 recording all the o"erations "erfor2ed -4 the church.

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#onitorin$ and im,lementation of internal systems &able './) %es,ondents view on monitorin$ and im,lementation of internal systems Res"onse Fre9uenc4 !ercentage Strongl4 =isagree % $I =isagree ) 6I Neither Agree Nor =isagree 7 1%I Agree 2+ +*I Strongl4 Agree 11 22I &otal (* "**+ Source: Field Data 2013 1he res"ondents were as6ed whether the internal controls i2"le2ented were 2onitored. Res"onses fro2 the res"ondents show 5ar4ing agree2ent to 2onitoring and i2"le2entation of internal control s4ste2. Fowe5er it can -e deduced fro2 the data that so2e res"ondents thin6 2anage2ent do not closel4 2onitor the i2"le2entation of the internal control s4ste2. Fro2 res"onses there 2a4 -e an inade9uate 2onitoring of the s4ste2. An inade9uate 2onitoring of the i2"le2entation of internal control s4ste2 can hinder the 2anage2ent res"onsi-ilities of church officers and e2"lo4ees and "lace the2 in a "osition where the4 2a4 -e te2"ted to engage in 9uestiona-le acti5ities and accounting "ractices( or at least could su-Aect indi5iduals to unwarranted accusations of such acti5ities. Further2ore it is co22onl4 acce"ta-le that internal control s4ste2s need to -e 2onitored in order to assess the 9ualit4 of the s4ste2@s "erfor2ance o5er ti2e. Audit of accountin$ records and underlyin$ internal controls &able '.0) %es,ondents view on annual auditin$ of accounts Res"onse Fre9uenc4 !ercentage /es )6 72I No 1% 2$I &otal (* "**+ Source: Field Data 2013 1he Res"ondents were as6ed their o"inion on whether the accounting records are audited annuall4. 1hirt4-si: res"ondents re"resenting se5ent4-two "ercent res"onded J/esK with the re2aining fourteen re"resenting twent4eight "ercent res"onding JNoK. It is clear that the churches ha5e so2e for2 of annual audit whether -4 a "rofessional or not. 1he difference in res"onds 2a4 -e due to the fact that audited accounts are not "u-lished and "u-licl4 2ade a5aila-le to 2e2-ers of the church. Accountin$ ,rocedures Inde,endence of the Internal Auditor &able '."-) Internal Auditor ,erforms his duties inde,endent from mana$ement Res"onds Fre9uenc4 !ercentage Strongl4 =isagree * *I =isagree $ 16I Neither Agree Nor =isagree 7 1%I Agree 2) %6I Strongl4 Agree 12 2%I &otal (* "**+ Source: Field Data 2013 1he res"ondents were as6ed whether the Internal Auditor "erfor2s his duties inde"endent fro2 2anage2ent. 8ight res"ondents re"resenting si:teen "ercent disagreed whilst twent4-three res"ondents re"resenting fort4-si: "ercent agreed. 1here were twel5e res"ondents re"resenting twent4-four "ercent who strongl4 agreed. Fowe5er se5en res"ondents re"resenting fourteen "ercents neither agreed nor disagreed. Fraud or error can onl4 -e detected onl4 if the auditors ha5e autono24 and can wor6 without an4 2anage2ent influence and according to >onrath( 1996# internal auditing is an inde"endent a""raisal function( esta-lished within an organi3ation to e:a2ine and e5aluate its acti5ities as a ser5ice to the organi3ation. Fro2 the data a-o5e it can -e seen that the auditors of the church ha5e so2e degree of autono24 though it 2a4 not -e a-solute. ".".1 Summary, conclusion and recommendations Summary of findin$s 1he stud4 re5ealed the e:istence of internal control acti5ities in the church and this affects the 2onitoring and use of church funds. Internal control s4ste2s are designed in a 2anner that can -e relied on and trusted -4 all sta6eholders including 2e2-ers of the congregation. Inade9uate internal controls can hinder the effecti5eness of church officers and e2"lo4ees and "lace the2 in a "osition where the4 2a4 -e te2"ted to engage in 9uestiona-le acti5ities or accounting "ractices. If internal controls do not e:ist in churches( the "ossi-ilit4 of

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Research Journal of Finance and Accounting ISSN 2222-1697 !a"er# ISSN 2222-2$%7 &nline# 'ol.%( No.1)( 2*1)

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church officers and 5olunteers who are not in5ol5ed in an4 financial i2"ro"rieties will -e su-Aected to accusations fro2 others. 1his can -reed distrust and cause conflicts to arise in the church. 1he stud4 also re5ealed the effecti5e nature of internal control in the church. 1his ste2s fro2 the fact that the o5erall o-Aecti5e for instituting the internal controls in the church is -eing achie5ed. 1his is -ecause the assets are -eing "rotected against waste( fraud( and inefficienc4E accounting and o"erating data ha5e -een accurate and relia-leE and "olicies ha5e -een co2"lied with. 1hese ha5e -een "ossi-le through segregation of duties and authori3ations of transactions -efore the4 are carried out. Conclusion It is worthwhile concluding that churches ha5e so2e for2 of internal control s4ste2 "resent and that there is a significant relationshi" -etween internal control and the finances of the churches or organi3ation. It is so2ehow difficult to rate a churches@ internal control en5iron2ent as wea6er or stronger( si2"l4 -ased on the res"onses of the res"ondents. 1his difficult4 occurs -ecause the internal controls the2sel5es are not necessaril4 created e9ual( and ha5e different goalsE the res"onse is si2"l4 an a""ro:i2ation for the strength of the internal control en5iron2ent. Additionall4( a church or an4 institution# 2a4 ha5e 5er4 wea6 controls for accurac4 e:a2"le a nonco2"uteri3ed s4ste2 -ut 5er4 strong controls for fraud "re5ention "ur"osesE this would result in a 5er4 highnu2-ered res"onse on the sur5e4( -ut could still allow 5er4 serious "ro-le2s in the accounting s4ste2 if accounting or 2athe2atical errors occur( e5en if fraud does not. %ecommendations 1he researchers reco22end that leadershi" of churches shouldE Im,lement and monitor systems Internal control s4ste2s 2ust -e 2aintained and continuall4 re D e5aluated -4 the audit co22ittee in order to resol5e all set -ac6 and 2a6e it "ossi-le for all sta6eholders to -e a-le to rel4 on it as e5er4 effecti5e. =ue to the 5olunteering nature of e2"lo42ent in 2an4 church structures( re D e5aluation of internal control s4ste2 should -e done in a 2anner not to offend an4 2e2-er or sta6eholder -ut rather continuous education and strategic a""roach will not 2a6e an4 2e2-er feel unwanted or witch hunted. Em,loy cash disbursement and financial mana$ement ,ractices ,i5en that cash is 5er4 susce"ti-le to fraud and theft( the internal control on cash dis-urse2ent should co5er i2"ortant as"ects of financial 2anage2ent "ractices. Financial 2anage2ent "ractices include ensuring the "h4sical custod4 of the funds( the segregation of duties( authori3ation( recording of financial cash# transactions and "eriodic reconciliation. Pay attention to 2uality Financial %e,ortin$ A significant "ositi5e relationshi" e:isted -etween staff co2"etencies and effecti5eness of the internal control s4ste2 which will go a long wa4 to affect the re"orting of the church@s financial accounts. 1his 2eans that staff co2"etencies strongl4 influence 9ualit4 of financial re"orting( and therefore if "ro2oted -4 church leadershi" it would lead to 9ualit4 of financial re"orting and the handling of the internal control s4ste2 or "rocedures. 1his can -e achie5ed through offering of training "rogra2s to the church leadershi". %EFE%E3CES Aldridge( R. and .ol-ert( J. 199%# L0anage2entHs Re"ort on Internal .ontrol and the AccountantHs Res"onse@( 0anagerial Auditing Journal( 'ol. 9( No. 7( "".21-2$. ;lac6-eard( B. 2**6#( Accounting for the .hurch7 Accounting Fonours Journal( 'ol. 2 +9. "" +6-+$ ;erger( Julia 2**)# Religious Non-,o5ern2ental &rgani3ations7 An 8:"lorator4 Anal4sis( International Societ4 for 1hird-Sector Research and the Johns Fo"6ins <ni5ersit4 ;owrin( A. 2**%# LInternal control in 1rinidad and 1o-ago religious organi3ations@( Accounting( Auditing and Accounta-ilit4 Journal( 82erald ,rou" !u-lishing Bi2ited( 'ol. 17( No. 1( "".121-1+2. .ahill( 8. 2**6# LAudit co22ittee and internal audit effecti5eness in a 2ultinational -an6 su-sidiar47 A case stud4@( Journal of ;an6ing Regulation( 'ol 7( No M( "".16*-179. .unningha2( B. A. 2**%#. 1he A""eal and Bi2its of Internal .ontrols to Fight Fraud( 1erroris2( &ther Ills. =uncan( J. ;.( =. B. Flesher( and 0. F. Stoc6s 1999#. GInternal .ontrol S4ste2s in <.S. .hurches7 An 8:a2ination of the 8ffects of .hurch Si3e and =eno2ination on S4ste2s of Internal .ontrolG( Accounting( Auditing( and Accounta-ilit4 Journal( 'ol. 12 No. 2( "". 1%2-6). Fe5esi Alan ,. 2**+#E Internal .ontrol Standards in New /or6 States ,o5ern2ent Ir5ine( Felen 2**+#. G;alancing 0one4 and 0ission in a Bocal .hurch ;udgetG( Accounting( Auditing( and Accounta-ilit4 Journal( 'ol. 1$ No. 2( "". 211-2)7. John( !. J. n. d.# 2*11#. 0anaging the church@s financial resources. N&nlineO A5aila-le7 htt"PPwww.enrich2entAournal.ag.orgPht2 >onrath( Barr4 F. 1996# JAuditing conce"ts and a""licationsK( )rd edition( ?est !u-lishing .o2"an4( <nited

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Research Journal of Finance and Accounting ISSN 2222-1697 !a"er# ISSN 2222-2$%7 &nline# 'ol.%( No.1)( 2*1)

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States of A2erica( "". 7)*. >a"lan !u-lishing <>( 2**$#. !rofessional Accountant !A#. 1he .o2"lete 1e:t. >ieso =onald( Jerr4 ?e4gandt( and 1err4 ?arfield 2*1*# Inter2ediate Accounting. Fo-o6en( NJ7 John ?ile4 Q Sons( 2*1*. >aragiorgos( 1.( =rogalas( ,.( ,ot3a2anis( R. and 1a2"a6oudis( I. 2**9# J1he .ontri-ution of Internal Auditing to 0anage2entK( International Journal of 0anage2ent Research and 1echnolog4( 'ol. )( No. 2( Serials !u-lications( "". %17-%27. Baughlin R. .. 19$$# JAccounting in its social conte:t7 an anal4sis of the accounting s4ste2s of the .hurch of 8nglandK( Accounting Auditing and Accounta-ilit4 Journal( .ol 1( No.2 "". 19-%2. 0eigs(;.?E ?hitington(&E !ann4(J.> Q 0eigs(F.R( 19$$#. !rinci"les of Auditing $th 8d#( Irwin Fo2ewood 0iller( J. 2**)#( Internal .ontrol 2easures in .or"orations 0illicha2"( A. F. 2**2#. JAuditingK. 1he ;ath !ress( ;ath 8ighth edition. !g$*-1+*()%9 -)++ 0ulder( J.0 1999#. JFaith and 0one47 1heological Reflections on Financing A2erican Religion.K In .ha5es and 0iller eds.#( Financing A2erican Religion. ?alnut .ree6( .A7 Alta0ira !ress( "" 1+7-16$ 04ers =a5id ?. 2*12# 8:ternal Sta6eholders and Internal .ontrols in .hurches !etro5its .hristine( .atherine Sha6es"eare( and Ai2ee Shih 2*11#.J1he .auses and .onse9uences of Internal .ontrol !ro-le2s in Non "rofit &rgani3ations.K 1he Accounting Re5iew. 'ol. $6 No. 1 "". )2+-)+7. Re3aee( S.( Ford( ?.F. and 8la2( R. 2***#(TT1he role of internal auditors in a real-ti2e accounting s4ste2HH( Internal Auditor(A"ril("".62-7 Saw4er( ;. B. 2**)# JSaw4er@s Internal Auditing. 1he "ractise of 0odern Internal AuditingK( 1he Institute of Internal Auditors( +th ed.( "". 12*-121. Shai-u( I. A. 2*1)#. 1owards an 8ffecti5e Financial 0anage2ent of Funds ,enerated fro2 &fferings in the .hurch7 A Stud4 of so2e Selected .lassical !entecostal .hurches in the Ashanti Region of ,hana. Research on Humanities and Social Sciences( 3 2#( 21+-221. S"it3er( 8. 2**+# Internal controls and financial accounta-ilit4 for not-for-"rofit -oards. 1a4lor( ;.( R. .hait( and 1. Folland 1996# J1he New ?or6 of the Non"rofit ;oard(K Far5ard ;usiness Re5iew( Se"te2-er-&cto-er. ?est( Ro-ert and .harles Sech 2**7#.Internal financial controls in the <.S. .atholic .hurch. Research stud4 of the 'illano5a <ni5ersit4 .enter for the Stud4 of .hurch 0anage2ent( ?ilhel2 Ian 2**6#. JFraud In5estigations Raise New Uuestions for ;eleaguered Red .rossK .hronicle of !hilanthro"4 'ol. 1$ Issue 12( "g. %6

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