ACCA Audit and Assurance (F8) Practice Exam 2025 – Comprehensive Preparation Guide

Implementing numerical control over collection tins is a critical control measure to enhance the fundraising operations of a Not for Profit organization. This control involves assigning unique identifiers to each collection tin, carefully tracking their distribution, and recording the amounts collected from each tin.

The significance of this control lies in its ability to prevent theft and the misappropriation of funds, which is crucial for maintaining the integrity of the organization's fundraising efforts. By establishing a systematic approach to managing collection tins, the organization can ensure that all funds collected are accounted for and can be reconciled with reported fundraising totals. This level of oversight increases transparency and builds trust among donors, which is essential for encouraging ongoing support.

In contrast, while prior years' budget comparisons help with overall financial planning and electronic banking statements enhance financial oversight, they do not specifically address the unique risks associated with physical fundraising operations. Staff performance reviews are important for employee management and motivation but do not directly influence the integrity or security of fundraising activities.