{"id":3650,"date":"2014-07-16T08:38:04","date_gmt":"2014-07-16T08:38:04","guid":{"rendered":"http:\/\/www.africlub.net\/awdf\/?p=3650"},"modified":"2014-07-16T08:38:04","modified_gmt":"2014-07-16T08:38:04","slug":"accountability-to-ourselves-and-to-our-stakeholders","status":"publish","type":"post","link":"https:\/\/awdf.org\/OldSite\/accountability-to-ourselves-and-to-our-stakeholders\/","title":{"rendered":"Accountability to Ourselves and to our Stakeholders"},"content":{"rendered":"

The African Women\u2019s Development Fund (AWDF) has since it began operations in 2001, invested in various systems and processes to ensure transparency and accountability in all our activities. In order to achieve the latter objective, our performance has always been subject to scrutiny by a number of internal and external stakeholders such as our donor community, our grantee partners, other Non-Governmental Organisations, employees, the media, citizens and consultants and service providers . Stakeholders want to feel confident that AWDF is effectively and ethically managed, and is yielding the desired results.<\/p>\n

Annual audits are a key part of our accountability processes and the audit of our 2013 financial statements further affirmed our commitment to be transparent and accountable to ourselves and to our stakeholders. Financial statement audits are generally performed to confirm the validity and reliability of information as well as to provide an assessment of the effectiveness of internal control systems. The objective of annual audits is for the external auditors to give a reasonable assurance that the financial statements are true and fair and are free of material misstatements.<\/p>\n

The AWDF financial statements for 2013, audited by KPMG has just been published. We are proud to say that this year\u2019s audited financial statements are unique in that it is our first year of adopting the International Public Sector Accounting Standards (IPSAS); which is the International Financial Reporting Standard (IFRS) for the public entities.<\/p>\n

The adoption of IPSAS has enhanced the transparency of our accounts due to the nature of the standards as well as additional disclosure requirements. It has also improved the comprehensiveness, quality, consistency and comparability of AWDF\u2019s financial statements. IPSAS represents international best practice and therefore by adopting IPSAS, there is better comparability of AWDF\u2019s financial statements with other international organisations.<\/p>\n

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Highlights of the 2013 Financial Statements<\/strong><\/p>\n