FINANCIAL MANAGEMENT AND CONTROL SYSTEM (FMCS)
at the Bulgarian Red Cross (BRC)
Art.1. (1) This system is created based on articles 3 and 4 of the Financial Management and Control in the Public Sector Act (FMCPS), art. 2 of the Internal Audit Act in the Public Sector, the Accountancy Act, Methodological guidelines on the elements of finance management and control, issued by the Ministry of Finance on 11.09.2006 and art. 21, item 5 of the BRC Statutes.
(2) The System supplements the policies and procedures, described in other internal organizational documents. It defines financial management and control norms at the BRC, which should contribute to achieving the previously set up objectives. Financial management and control is a whole process integrated within the organization’s activity and implemented by management and staff.
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