Strengthening Internal Financial Controls & Preventing Mismanagement

Skill-labs are part of ISDM's efforts to build sector-wide capacities in compliance and governance. They are designed as case-led, peer-learning sessions featuring sector practitioners and domain experts. This video is an expert discussion around strengthening internal financial controls and preventing mismanagement in non-profit organizations. It emphasizes that financial controls are essential for ensuring accountability, preventing fraud, and building credibility with donors and regulators. The report differentiates between financial systems and controls, identifies the three main types of controls (operational, financial, and compliance), and highlights that effective implementation is more about organizational culture and discipline than cost. It also outlines the collective responsibility of the board, management, and staff in upholding financial integrity.