The LASPNET Financial Manual provides a comprehensive description of LASPNET’s finance and accounting policies as well as
procedures that guide the organisation of accounting functions and operating systems. It shall guide all the LASPNET staff, Organs and Members involved in the day-to-day running of the Network. On the other hand, it is also intended to provide the required checks and balances that are expected to enhance LASPNET’s ability to prepare comprehensive, accurate, and reliable financial and operating reports in order to build the confidence of its Members, donors and other stakeholder's in its various undertakings.
It contains finance and accounting procedures adopted and used by LASPNET to guide the following:
- Recording of all financial transactions
- Monitoring and control of expenditure
- Satisfying the reporting requirements of the Secretariat
- Providing timely and accurate financial and management reporting
- Serving as a reference material for staff in the performance of accounting tasks and as a training document for Accounts staff
- Serving as a reference for auditors, consultants, and donors who want to understand as well as evaluate LASPNET’s finance and accounting system
Management shall select accounting policies so that the financial statements comply with the requirements of the International Financial Reporting Standards (IFRSs) and the terms of the agreements between LASPNET and its partners/donors/financiers.
The objective and purpose of this Manual is to amend all previous LASPNET Financial Rules and Regulations and to give the Executive Director comprehensive direction and authority to implement policies, methods and approaches which will ensure transparency, integrity, and value for money in all financial transactions of LASPNET. Risk management, reasonable, and due diligence shall be given attention in all financial transactions and dealings of LASPNET.
This Manual rather than seeking to amend the existing financial policies and procedures seeks to overhaul and recommend that the existing financial policies and procedures are repealed and replaced with the provisions of this Manual following hereunder.
The primary and ultimate responsibility for the establishment and maintenance of this Manual rests with the Board which delegates the Committee of Finance and ICT Systems since their responsibilities require them to provide assurance regarding utilisation of the organisation’s resources to LASPNET Members, Government of the Republic of Uganda, Development Partners/Donors and other stakeholders. However, the implementation and operative use of the Manual is a responsibility of all LASPNET Staff since they are required and expected to produce information used in strengthening the Manual and/or take other actions
needed to effect control. All the employees of LASPNET are responsible for communicating identified operational problems, deviations from established standards, and violations of policy or laws pertaining to this Manual.
Our Institutional Policies are meant to provide a comprehensive description of LASPNET’s strategic work mechanisms and procedures that guide the organizations operating systems. They guide all staff, organs and members involved in the day to day running of the Network. They also are intended to provide the checks and balances expected to enhance confidence of members, donors and other stakeholders of LASPNET in its various undertakings. 