GOVERNANCE AND MANAGEMENT AUDIT WORKING PAPER

(PERFORMANCE AUDIT REPORT)

This working paper must be filled up by the Internal Auditor or the Audit Committee in
coordination with the responsible person/s in the key units of the cooperative signifying the presence
of the documents being ask. The remarks portion should indicate finding/s in the document whether it
is not in possession by the right person, found to be incomplete in substance, or the document is not
duly signed by responsible officer/s.

A. GOVERNANCE REPORTS

Please
check
OFFICERS DOCUMENTS if
REMARKS
available
A.1 General Assembly
1. Approval of plans and budget
2. Acceptance/approval/confirmation/ratification
of the following reports of the Board (including
BR) and Committees
2.1 Board Report
2.2 Committee Reports
2.3 Management Report
3. Engagement of the external auditors
4. Election of officers
5. Presentation of Annual Report
6. Acceptance of Audited Financial Statements
7. Other Resolutions/Policies, including
amendments of ACBL, if any
A.2 Board of Directors
1. Written duties and responsibilities
2. Duly signed Oath of Office
3. Copies of minutes of meeting/BR/Reports
3.1 Discussion of financial statement
3.2 Formulation of VMG
3.3 Budget
3.4 Policy review
3.5 Discussion of audit findings or
recommendations (internal and external)
3.6 BR specifying the regular schedule of
meetings of the Board and the
Committees
4. Rules and Procedures in conducting a meeting
5. Succession Program
A.3 Election Committee
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Duly signed Oath of Office
 Please
check
OFFICERS DOCUMENTS if
REMARKS
available
4. Duly approved election guidelines
5. Education program for elective position
6. Screening program of members with voting
rights
7. List of Members with voting rights
8. Results of Election
9. Documents as to turn-over of documents to
new officers
A.4 Audit Committee
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Duly signed Oath of Office
4. Audit Systems and Procedure
5. Audit Program of Work
6. Internal Audit Report
7. Monitoring report on audit recommendations
8. Report to General Assembly
A.5 Education Committee
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Appointment Paper/BR
4. Copies of minutes of meeting/BR/Reports
5. Training Plan/Program with budget
6. Training Report
7. Training modules
8. Training materials/ paraphernalia
9. List of pool of trainers
10. Feedback/evaluation tool
A.6 GAD Committee
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Appointment Paper/BR
4. Copies of minutes of meeting/BR/Reports
5. GAD Plan with Budget
6. Sex disaggregated data of members, officers
and staff
7. GAD Assessment Report
A.7 Mediation and Conciliation Committee (Medcon)
1. Minutes and Committee Reports and
Recommendations

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 Please
check
OFFICERS DOCUMENTS if
REMARKS
available
2. Written duties and responsibilities
3. Appointment Paper/BR
4. Copies of minutes of meeting/BR/Reports
5. Conflict resolution policies and procedures
6. Medcon Plan/program
7. Medcon Semi-annual Report
A.8 Ethics Committee
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Appointment Paper/BR
4. Copies of minutes of meeting/BR/Reports
5. Code of Ethical Standards
6. Ethics Committee Plans and Programs
A.9 Other Committees, specify: __________________________
1. Minutes and Committee Reports and
Recommendations
2. Written duties and responsibilities
3. Appointment Paper/BR
4. Copies of minutes of meeting/BR/Reports
5. Program of Work
6. Accomplishment Report
A.10 Secretary
1. Book of Minutes of meetings of GA and the
BOD
2. Registry of Members
3. Share and transfer book
4. Cooperative copy of COR, ACBL, COC
5. Compilation of Board Resolutions
6. Cooperative Seal
7. Contracts, MOA, other docs (specify) ______
A.11 Treasurer
1. Cash Book
2. Cooperative securities (investment, titles, and
other negotiable instruments)
3. Cash Position Report
4. Petty Cash Book
A.12 General Manager / C.E.O. / or its equivalent
1. Appointment paper
2. Board Resolution Files
3. Monthly/quarterly/semi-annual/annual
management report

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B. MANAGEMENT REPORTS/RECORDS

Please
OFFICERS DOCUMENTS check if REMARKS
available

B.1 Organizational/Operational Structure

1. Organizational Chart
2. Management Functional Chart
3. Functional Statement of each
unit/ departments/sections
B.2 System and Procedures
1. Complete book of accounts
2. Updated recording
3. Internal Control
3.1 CASA
3.2 Accounting system
3.3 Bond of accountable officer
3.4 Record preservation (maintenance
and disposal/archiving plan
3.5 Continuity/contingency Plan
4. Manual of Operation
4.1 Business Operation Manual
4.2 Accounting Manual
4.3 Code of Governance and Ethical
Standards
4.4 Personnel Policy Manual
4.5 Election Guidelines
4.6 Audit Manual
4.7 Others, specify_______________
B.3 Human Resource Records
1. Contract/Certificate of employment
2. Personnel File
B.4 Performance Evaluation
1. Standards of measurement
2. Rating of all management staff
B.5 Compensation and Benefits
1. Salary scaling program
2. Incentive and Reward Program
3. Retirement Plan/Program/Package
B.6 Career Development
1. Capacity building program
2. Scholarship program
3. Immersion program
B.7 Compliance to Government Requirements
1. Certificate of Compliance (CDA)

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 Please
OFFICERS DOCUMENTS check if REMARKS
present
2. Certificate of Tax Exemption (BIR)
3. Registration (SSS)
4. Registration (PHILHEALTH)
5. Registration (PAG-IBIG)
6. Certificate of Exemption / DO 174 (DOLE)
7. Business Permit (LGU)
8. Other agencies, specify the document, if
applicable _________

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 ANNEX A. FORMAT TEMPLATE

GOVERNANCE AND MANAGEMENT AUDIT REPORT (Performance Audit Report)

As of December 31, 2018

ABC COOPERATIVE

st
1 paragraph (Basic Information)

PARTICULARS SOURCE DOCUMENTS

i. Name of Cooperative (as of Latest Certificate of Amendment (In case there is an
latest amendment, if any) amendment in the name of the cooperative) or Certificate
of Registration under RA 9520
ii. Cooperative Identification Certificate of Registration under RA 9520 (bottom part of
Number (CIN) the Certificate)
iii. Registration Number Certificate of Registration under RA 9520 (upper part of
the Certificate)
iv. Actual Principal Address Latest Articles of Cooperation
v. Type and business of Latest Articles of Cooperation/Audited Financial
Cooperative Statement

nd
2 paragraph
 When and who conducted the audit
 Scope or areas of audit
 Objective why audit was conducted
 Approaches, style, techniques use in the conduct of audit
rd
3 paragraph – discuss the objective and by citing the scope of the audit and
the methodologies adopted by the auditor

 Summary of Key Observations (Cite first the strong areas and best practices of the
cooperative, specifically on the presence of well-maintained documents. Then
identify the areas to be improved)
4th
paragraph – RECOMMENDATION AND CONCLUSION
 Specific recommendations for action by the cooperative

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 ANNEX B. SAMPLE REPORT

GOVERNANCE AND MANAGEMENT AUDIT REPORT

(PERFORMANCE AUDIT REPORT)

RCOC PARTNERS CREDIT COOPERATIVE

RCOC Partners Credit Cooperative is a duly registered cooperative with the Cooperative
Development Authority (CDA) under Registration No. 9520-1016000000034458 and CIN No.
16201634458, with official postal address at Rustan Coffee Bldg., Jupiter St., Brgy. Bel – air, Makati
City engaging in the provision of ________________________.

The audit was conducted by the _____________ last _____ of _______ 2019 to ascertain the
documents required by MC No. 2018-01 Series of 2018 issued by the CDA, a government agency in-
charge in the regulation and development of cooperatives. Methodologies employed include verification
of the presence of the documents, whether the document is updated, and whether it is duly approved by
authorized representative of the CDA. Prior the conduct of the audit, a memorandum was issued to the
concerned units/person at least two (2) weeks before the conduct of the audit.

Summary of observations and findings are found below:

STRONG AREAS AREAS TO BE IMPROVED

Board of Directors Formulation of GAD committee and Policy

In order to address the findings, the following is hereby suggested:

AREAS TO BE IMPROVED NEEDED ACTION TIMELINES

Formulation of GAD committee
and Policy Formulation 2020

ATTESTED TRUE AND CORRECT:

LEA, CLAIR MARIA____ DELA CRUZ, KRISTINE JOY ORALLO, ADOLFO ___
Audit Committee Member Chairman of Audit Committee Audit Committee Member

CONCURRED:
TRIA, GILBERT OSCAR
Chairperson of the Board

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