How YOUR Money is Used ?
Accountability of Expenditures:
All donations, Zakat, contributions, sponsorships and adoption of centres are effectively managed through systems carefully designed within levels of management responsibility. MALC through its operations in Pakistan has developed an enormous trust amongst all its stakeholders and its credibility and reputation is exemplary amongst all the numerous NGO's operating. This success, both in treatment of Leprosy and expansion into Tuberculosis and Blindness cure, combined with our credibility, has ensured the regular inflow of grants, donations and various other contributions.
Audit of MALC’s Accounts:
MALC Accounts are audited by a reputable international audit firm M/s. Ford Rhodes Sidat Hyder and Co and the accounts are presented to and discussed at the Board of Governors consisting of eminent individuals. The audited accounts are circulated to all the donors and other stakeholders. MALC attaches greatest importance of practicing good and ethical corporate governance and applies stringent principles to all management decisions. Audits Reports are available on request.
Financial Monitoring, Control and Evaluation:
MALC uses fund accounting methods for incorporating the donations received whereby each project is recorded separately and all sources of income and utilization of funds for a particular project can be identified. Financial Statements are prepared in accordance with the requirements of the International Accounting Standards as applicable in Pakistan. Audits of MALC's overall financial statements are conducted by an independent firm of auditors. In addition to this, separate project audits are also conducted as per the requirements of donors.
ALL DONATIONS ARE TAX EXEMPTED UNDER SECTION 2(36) (C) OF INCOME TAX ORDINANCE, 2001 READ WITH RULE 214 OF THE INCOME TAX RULES, 2002