Finance Standards
Finance standards is a tool which helps us to evaluate/track/ensure financial and legal sustainability of AIESEC.
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A legal organization ensures its brand name & reputation - AIESEC as a similar organization needs to ensure legal profile as well. Considering the products and the issues we cater we cannot take risks of sending our Exchange participants illegally.
AIESEC as any other organization needs to do accounting to collect information about operations to be able evaluate financial status and performance for making decisions and to fulfill criteria set by law.
Reporting is an tracking tool for evaluating our financial financial situation, keep our organisation accountable, ensure it is operating legally. Reporting is basic, and be transparent with how the organisation is using its resources.
Budgeting makes sure we can sustainable achieve our plans, and keeps us accountable. Because without budget you are like pilot in dark.
Audit gives us an objective verification that our accounting gives fair and honest view of our organization and that our financial and legal process fulfill standards and satisfaction in our operations.
To ensure sustainability of the organization while maintaining healthy and effective programs.