Governance
Corporate Governance and Good Governance
- Internal control system
- Authorization System, Authority and Responsibilities
- Integrity and transparency
- Disaster recovery plan
Targeted Projects in 2025
Total funded
Current Projects
foundations of governance in iktifa vakfi
censorship
Building a rational governance system is one of the tasks of the Board of Directors, which directly supervises an administrative team and employees who provide services to beneficiaries and facilitate the participation of donors, volunteers and sponsors to maximize their role in stopping sufficiency in what benefits the beneficiaries, society and the state with the best effect.
The Board of Directors and the committees formed by it cease to be satisfied with supervising the performance of the executive management and ensuring that it achieves the general objectives and policies, in addition to setting the general framework of the strategic plan with a process of evaluation and periodic review of it, with the aim of constantly ensuring the effectiveness of the internal control and risk management systems. The Board ensures the integrity and efficiency of the process of preparing and issuing annual reports for approval by the Board of Trustees.
Internal and external audit
Given the importance of the results of the internal and external audit, this stage depends on more than one step to complete it, as the internal audit of the Audit and Oversight Committee audits and controls the procedures, statements and financial and legal reports, monitors and controls the operations within the endowment through a comprehensive and periodic review, and must ensure its consistency with the laws And the internal regulations adopted in the endowment of sufficiency, as the internal audit aims not only to discover financial, legal and legal errors, but to prevent errors from occurring.
In addition to an independent external audit company, it reviews and audits the annual financial statements to stop the sufficiency and issue of the annual financial report
Transparency and Disclosure
Adopting a policy of disclosure and transparency is one of the most important foundations of the endowment’s interest. The real administrative and financial picture of the endowment is fully disclosed. Transparency requires that the announced statements, reports or material events reflect the real reality of the endowment clearly, explicitly and completely, not misleading about the information about its operations and financial statements.
The Audit and Internal Control Committee reviews the financial statements to be published in the annual report, which is distributed to stakeholders, as well as published on the endowment’s website. Tables showing expenses and other important financial data.
Competence
Based on the keenness of the IKTIFA’ Endowment to achieve the agreed goals efficiently and effectively, the endowment periodically conducts an evaluation process for employees by studying and evaluating the job structure and defining clear job tasks for each job description. The IKTVA Endowment also follows the procedures specified in the approved policies and procedures manual, which is reviewed periodically to be updated according to work requirements.
The Iktifa’ Endowment operates within policies aimed at protecting the endowment, employees, beneficiaries and partners, and these policies include: equality and non-discrimination, rule of law, strengthening the separation of powers and conflicting functions, internal auditing, disclosure, and innovation, in addition to other policies that are approved and reviewed. Observing the standards of good governance in the endowment contributes to enhancing its credibility and transparency, and helps it achieve the goals for which it was set, which ensures the achievement of the strategy and sound control over performance in order to achieve continuity and growth in the long term.
‘’The best earning is the earning of the hand of the worker if he advises ’’
-An honorable hadith-
(It is better to teach him to fish than to give him a fish)
