Financial Information

Solidaridad aims to achieve a high quality on all fronts, which is particularly important in the area of financial management and control. Since the start of the creation of a worldwide network, the team of Financial Controllers has been working on alignment of the global internal control system. Each REC delivers annual financial statements that are audited by external auditors. Furthermore, 4 RECs (Solidaridad Europe, Solidaridad West Africa, Solidaridad East Africa and Solidaridad South & South East Asia) are certified under the ISO 9001:2008 norm.

Network Accounting Methods

All RECs are continually striving towards enforcement and global alignment of Solidaridad systems and standards for financial management and control. The Solidaridad Network works in a cloud-based system that provides support in the following areas in an integrated manner: account management, fund management, financial management and planning, and monitoring and evaluation (PME) of projects.

In 2016, further steps were taken to harmonize the accounting standards of the nine regional expertise centres so they can report their annual figures to the Solidaridad Network Secretariat on the same accounting basis. Preparations were also made to work in one global accounting system asĀ of January 2018. This global accounting system will be integrated with Solidaridad's project and fund management system.

QUALITY STANDARDS

Solidaridad Europe, 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 Europe uphold the principles of the VFI in relation to respect, reliability, openness and quality. These standards are promoted throughout the network. In accordance with the policy of the Solidaridad Network Foundation, other RECs also respect the principles of the VFI.