What are the attributes of a financial System and what are the characteristics of an efficient financial system?

Question

It should be in detail.

Answer 1

Taking into account current financial crisis, every financial organization must have up-to date written policies and procedures.

You have to identify their records and documentation of policies. Is it proper?

Next you identify the management of cash to meet organization obligations. Is it adequate?

Access their accounting system and financial reports, is it efficient?

What about their budget control? It is a tool and financial blueprint – does it meet the organization’s goal and objectives?

Is the organization’s time and activity documentation based on predetermined basis or after- the –fact activity?

Examine their internal controls, is it well developed with communication rules?

Further study

1.     On the Efficiency of the Financial System - Economic ...

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