Resources For Accountability and Financial Management in the Voluntary Sector

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Module 1. The Changing Environment for Accountability and Financial Management

Objectives

• Understand why financial management and accountability are so important;
• Understand the financial environment in which voluntary sector organizations operate;
• Identify the key ways to enhance accountability;
• Understand the many facets of accountability.

Preamble

Accountability is complicated. It includes management and reporting of an organization's finances. The overall performance of the organization, including its ethics and responsiveness to stakeholders, is also part of accountability. Accountability in the voluntary sector has come into the public eye in recent years, due in part to the increasing visibility of voluntary sector organizations, and in part to events in both the private (individuals and businesses) and public (government) sectors. Demonstrating your accountability pays off in increased trust between you and your stakeholders, and helps your organization to achieve its mission.

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