Transparency

Accountability is a fundamental part of our organization, underpinning “Who we are”. Without accountability, in combination with good management practices, we cannot maximize the impact of our work with children, build up trust with donors or even meet our legal requirements. In our organization, transparency and responsibility emphasize everything we do. We are devoted to domestic use of all funds and resources of ours, providing them to be used in accordance with approved budgets for programs and projects.

SOS Children’s Villages Albania is a member of an International Organization SOS Children’s Villages which helps people in 136 countries, and defines the policy framework for all member associations.

The international statutes provide the framework for these policies, requesting all member associations to observe policy manuals and quality standards.

All financial transactions are recorded in compliance with generally accepted accounting principles and national laws. Such accounting records reflect the efficient use of funds in a transparent and comprehensive manner. Accounting records, including periodical financial statements, are used for internal audits, external audits and for additional controls.

Financial information and processes are monitored to prevent irregularities, fraud, gross negligence or error. Regular checks of accounting data and financial processes during the year ensure that general accounting principles are adopted and followed, and that data is accurate. Control activities are conducted at all levels and in all functions of the organization. They consist of policies and procedures that help to ensure that management directives are carried out. Each co-worker’s responsibilities are clearly defined, and financial duties are segregated.

Our NA have written procedures describing lines of authority and the responsibilities of employees with regards to finances. Control activities are to be performed by employees in order to ensure that risks are reduced to acceptable levels.

In accordance with SOS Children’s Villages International Statutes and in compliance with legal requirements, our organization is obliged to perform an annual external financial audit conducted by an independent and recognized audit company every year. The audit provides a professional and independent external view of the financial system, the accuracy of financial results and compliance with organizational rules and applicable accounting standards and laws. This is essential for maintaining the confidence and trust of all internal and external stakeholders.

The auditor is appointed by the general assemble of the organization. The auditor’s opinion and the management letter are considered by the board, which approves the audited annual financial statements.

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