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Financial Accountability

All divisions must hold themselves accountable to various stakeholders for properly managing the funds they receive. Firstly, they must ensure that the board has all of the information necessary to confidently interact with a wide variety of parties including its own staff, the provincial Divisions office, funders, partners and other stakeholders. Each has a vested interest in how the division uses its funds to achieve its intended goals.

There are several ways that a division has to be financially accountable including, but not limited to, compliance with legal requirements, how the division organizes its personnel, how the board and staff relate to each other and how various funds are managed and reported.

Ultimately, the division must ensure that it can complete its due diligence and report accurately to its funders, partners and stakeholders.

Some divisions that have been successful with their financial accountability efforts offer their ideas and resources. If your division is facing financial challenges or wants to improve its financial management, these resources can be used as a reference or provide some insight and ideas.

In the case studies, click on the highlighted text to access other resources such as role descriptions, job descriptions, process descriptions and terminology definitions that may help you understand and broaden the scope of the story.

Tell us about a financial accountability challenge you’ve encountered that you feel other divisions may benefit by knowing about or give us your feedback on these resources.


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