What are the guiding principles for financial management systems?

Consistency: your financial policies and systems must remain consistent over time.

Accountability: you must be able to explain and demonstrate to all stakeholders how you have used your resources and what you have achieved.

Transparency: your organisation must be open about its work and its finances, making information available to all stakeholders.

Integrity: individuals in your organisation must operate with honesty and propriety.

Financial stewardship: your organisation must take good care of the financial resources it has been given and ensure that they are used for the purpose intended.

Accounting standards: your organisation's system for keeping financial records and documentation must observe accepted external accounting standards.