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WHERE THE FUNDS GO

 

Accountability and transparency are cornerstones of World Vision’s work. As stewards, we work hard to ensure all resources entrusted to us are used in the most effective and efficient manner to ensure greatest impact for children and families. World Vision ensures that progress reports and financial statements are made available at the end of every project so you know exactly how the funds we receive are being used to help millions of people worldwide achieve self-sustainability.
 

Resource Governance

We are committed to accountable and transparent financial management and have taken measures to ensure proper governance, as outlined below:

Fund and Project Management - World Vision manages all projects and donations independently. Before supporting a project, World Vision Malaysia (WVM) ensures funding availability and appraises plans and budgets based on need assessments. All commitments follow standard policies and procedures, with monitoring by WVM and the project country's World Vision office. Finished projects are evaluated for future improvement.

Audit Committee - The committee comprises two Board members - Christine Ong May Ee (Chairperson) and Gary Soon Thiam Lam. The committee helps ensure adequate controls in WVM operations, looks into all audit matters, reviews financial statements, and considers the appointment of, and audit fees for, the external auditor.

Cost Control - World Vision operations are bound by strict cost controls. Internal policies and procedures ensure that every Ringgit raised is properly used. FY2015, 13.95% of income collected was used for administration and fund-raising, while 86.05% was used for community development, international relief and local charities. WVM has pledged not to use more than 20% of donations on donor care, administration and fundraising cost.

External and Internal Audit - WVM has appointed Baker Tilly Monteiro Heng to perform its annual financial audit. World Vision International office and project offices worldwide have also established their own internal audit departments. Annual audits, including operational audits, are performed regularly.