Search:  
Gauteng Business News
2752
VIEWS

Send  Share  RSS  Twitter  23 Jun 2011

ACCOUNTING: Starfish Acquire An Accounting Solution with IQ Business Grp

 





Recent Gauteng Business News

THE IQ BUSINESS GROUP PROVIDES STARFISH WITH AN ACCOUNTING SOLUTION

The role of the accounting function for non-profit organisations cannot be underestimated, says Belinda te Riele, Starfish Greathearts Foundation South African CEO. Donors and international aid agencies are requiring higher levels of financial reporting, and in order to meet these standards a clear and comprehensive financial reporting system is required.

The IQ Business Group has a long partnership with Starfish, working with the successful NGO since 2000. Starfish requested support in strengthening their accounting and reporting practices, at the time when donor reporting requirements became more demanding, and access to funding more competitive. Francois Roos, Risk and Accounting Manager at The IQ Business Group, South Africa’s leading independent management consultancy, says, “At IQ we not only provide end-to-end solutions for corporate conglomerates but work with non-profit organisations like Starfish and government health providers such as the Chris Hani Baragwanath Hospital who we assisted in improving their paediatric patient care.”

Starfish Greathearts Foundation is an international development charity that aims to bring life, hope and opportunity to children left orphaned or vulnerable in South Africa. Starfish forms a vital link between donors who are often based off-shore and community-based organisations (CBO’s) to whom the raised funds are allocated.

Together with Starfish, The IQ Business Group’s Accounting Services division, installed and implemented a comprehensive accounting system to provide the Foundation with strengthened financial systems and reports. “IQ’s support to Starfish included not only an accounting system, but also an opportunity to strengthen financial capacity within the team. ,” says te Riele. The IQ solution includes, financial accounting, cash management, payroll management, budgetary control and financial reporting.

“Donations and funds are now more effectively managed, with support fees accurately ascertained, mitigating the risk of any overspending or under budgeting. Thanks to IQ, Starfish is now also able to better assist CBO’s in their budget forecasts,” says te Riele. “This new function not only enforces efficiency but increases donor confidence.” The IQ Business Group also used the initiative to provide critical accountancy exposure for their graduate accountants in their TOPP programme, enabling the students to get widespread exposure to the full spectrum of accountancy – required for their certification.

“Providing NGO’s with an outsourced accounting model such as this, enables them to access required accounting skills, and implement a clear and comprehensive financial reporting system, without the huge cost of investing in an in-house accounting function. Additionally, our TOPP students get the necessary broad exposure for them to complete their qualification,” concludes Roos.


 
 
 
HBC-Solutionsstudy-it-onlinespaceacreBusiness Profilessolarport
 
   
 
 
 
  Accomodation
Accommodation


Online Foreign Exchange
Foreign Exchange


Directory
Directory


Fax
Fax 2 Email


Finance
Finance


Furniture
Furniture


Casino
Online Casino


Restaurant
Restaurant


Auctions
Shop Online


Study IT
Study IT Online


Web design
Web Design


Weddings
Weddings


Work
Work from Home
 
 
 
 
 
Company News
 
 

 

© 2019 www.gbn.co.za. All rights reserved.

Daily Newsletter Subscription

 

Subscribe to the Gauteng Business News Daily News and information email (it's free).

Thank You
Your email address has been added.

Name:
Email Address: