Subject: Forward: Professionalization of IFCSS accounting system

From: [email-masked]
Date: 13 Dec 1993 01:34:02 -0500 (CDT)

From: Council Finance Committee (Zhou Hongguang, signed)
To:   IFCSS Council
Cc:   IFCSS HQ, IFCSS SVC
Subj: Professionalization of IFCSS Accounting System
Date: December 11, 1993

The Council's Finance Committee has been working hard to push IFCSS'
financial management into a professional level since the beginning of 
this term. In the first Teleconference of the Council, the Finance
Committee proposed a bill to the Council, which later became a resolution,
to carry out a financial inspection of the IFCSS HQ. After the 
Teleconference, the Finance Committee formed an Inspection Team headed
by Mr. Zhong Hongguang to work on the inspection. The Team examined the
accounting records made available to the members by the HQ, and arranged
for four members to conduct an on-site inspection of the HQ in the weekend
of November 5.

Due to many reasons, the Inspection Team was not, and is still not, able 
to obtain all the necessary materials from the HQ to complete the mission
of financial inspection in the first trip. Our examination of the
accounting records has indicated many aspects in the IFCSS accounting
system that need improving. In the second Teleconference of the Council,
the Finance Committee gave a progressive report of the inspection to the
Council.

It has been clear that the IFCSS accounting system and IFCSS' general
financial management is one of the key areas that will define IFCSS'
professional operation, the Finance Committee is determined to continue
its effort to push it into the right direction. Currently, while we
continue examining the IFCSS HQ accounting records, we have also been 
in contact with some professional accounting firms to consider future
possible CPA auditing. We will keep you updated as we go along.

This work is a difficult task for the Council, and it is a challenge that
IFCSS must face. During our work, we have received tremendous support
from our colleagues in the Councils, IFCSS veterans, and many
ordinary CSS who are concerned about the future of IFCSS, which we 
appreciate so much. We are also happy to say that our work has broken a
path for IFCSS to move along toward professionalism.

We have noticed that the IFCSS HQ has also taken measures to invite CPA
offices to audit IFCSS' accounting records. The Finance Committee is
pleased to see such positive reactions from the IFCSS HQ. We believe it
is a right direction towards a professional accounting system for IFCSS.

The Finance Committee, while playing the role on behalf of the Council to
supervise the IFCSS accounting practice and financial management, will
appreciate the maximum cooperation of the HQ in regard of the inspection
and auditing. We expect the HQ to set, and submit to the Council, a
timetable of the proposed open bidding for CPA auditing and its development
as well. Meanwhile, the Finance Committee continues to urge the Inspection
Team on making greater efforts to proceed its internal inspection as planned.

Again, IFCSS' professionalization is far from easy an task, and the
concern and support from as many people as possible are mostly needed.
If you have ideas or comments on this matter, please feel free to let
us know.