Improving Financial Policy Compliance and Internal Control at Adventist Schools in Thailand: Recommendations from Stakeholders

Abstract

This research study examined concerns about financial policy compliance and internal control mentioned in General Conference Auditing Service audit reports at four Seventh-day Adventist schools in Thailand. It focused on how to resolve recurring violations of denominational financial policies and improve control of accounting and administrative functions. A total of 32 in-depth interviews of external and internal stakeholders were conducted to search for practical ways to deal with common compliance and internal control problems. A key finding was a need to share policy compliance and management letters with school boards and financial staff, respectively, to facilitate rapid resolution of problems. Local contexts should be considered when implementing policies and internal controls. Given significant variations in laws and customs, higher organizations should study how to thoughtfully apply good governance principles in local situations.