Network Accounting Methods
All RECs are continually striving towards enforcement and global alignment of our systems and standards for financial management and control. In 2015, a new cloud-based system was implemented that can provide support in the following areas in an integrated manner: account management, fund management, financial management and planning, and monitoring & evaluation (PME) of projects.
Furthermore, steps were taken in 2015 to harmonize the accounting standards of the 10 regional expertise centers so that, as of 2016, all RECs can report their annual figures to the Solidaridad Network Secretariat on the same accounting basis. Starting in 2016, all RECs will prepare financial statements based on one standard format, providing a consistent level of transparency throughout the network. If needed, local financial statements will continue to be prepared according to local rules and regulations.
To continue with the improvement and harmonization of our internal control system, plans for 2016 include synchronizing all local fraud policies for a renewed global fraud policy, implementing a risk management system and continually improving our cloud-based financial management system.
Solidaridad Netherlands, the largest regional expertise centre of the Solidaridad Network, is entitled to use the quality mark of the Central Bureau on Fundraising (CBF) and complies with its requirements. The CBF monitors all philanthropic bodies in the Netherlands and evaluates their management and policy in order to increase the transparency of the charity sector.
The Dutch Association of Fundraising Organizations (VFI) is the umbrella organization for philanthropic organizations that raise funds across the Netherlands. Its goal is to increase public confidence in fundraising institutions. The Solidaridad Network Foundation and Solidaridad Netherlands uphold the principles of the VFI in relation to respect, reliability, openness and quality. These standards are promoted throughout the network. In accordance with policy of the Solidaridad Network Foundation, other RECs also respect the principles of the VFI.