Finances and Accountability
Financial accountability results from holding the organization accountable for effectively performing a financial activity, such as a key control procedure within a financial transaction process. A well-defined financial accountability structure serves as the foundation for establishing effective financial processes.
To maintain the greatest level of financial management and control standards for all projects and programs managed and implemented under NMWWS is done based on its financial policy 2012. It also follows the financial rules and regulations of the government as well as donor compliance and rules. For Financial Accountability, the organization adopts the process for its best utilization of resources as follows:
- The resources of the organization are utilized in the most efficient, cost-effective and transparent manner.
- All resources are used wholly and exclusively for the purpose of achieving programme objectives.
- The organization is equipped to render an accurate, timely, and transparent accounting of all resources expended.
- NMWWS management is properly advised on financial strategy and accounting policy.
- Ensure the timely preparation of financial statements that accurately reflect operational activities.
- Ensure that NMWWS adheres to a financially prudent planning strategy.
- Foster the good name and reputation of NMWWS by ensuring adherence to the laws of Nepal and the stipulations of donor agreements.
- Ensure that the organization abides by the rules of its Financial Management Manual, Personnel Policy, and Procurement Policy.
- Ensure the implementation of an effective internal control and check system which safeguards the organization’s assets and ensures responsible stewardship of donor funds.
- Responsible for the updating of the Financial Management Manual, which documents accounting policies, book-keeping procedures, rules, regulations, practices, and procurement policies.
- Respect the confidentiality of all information relating to NMWWS.
- Facilitate the conduct of external or internal audit exercises. Provide all the required information without delay during the course of the audit.