| Term |
Definition |
| Advance Reconciliation |
The process of matching issued staff advances against retired amounts (evidence/receipts) and identifying any outstanding balances that must be refunded or documented. |
| Asset Reconciliation |
A check that ensures physical assets (like laptops) present in the office match the items listed in the organization’s financial and inventory records. |
| Audit Readiness |
A state in which an organization maintains its records, reconciliations, and documentation so consistently that it can face an external review at any time without emergency preparation. |
| Bank Reconciliation |
The process of comparing the organization’s cashbook balance to the bank statement balance to identify and resolve discrepancies like bank charges or uncleared transfers. |
| Budget Reconciliation |
Comparing actual spending against approved budget lines to ensure the project is on track and funds are being used for their intended purpose. |
| Cashbook |
The internal record where an organization tracks all incoming and outgoing funds before they are reconciled with bank statements. |
| CBO (Community Based Organization) |
The sub-grantee at the end of the funding chain is responsible for project implementation and initial financial reporting. |
| Compensating Controls |
Alternative measures or documentation are used to provide accountability and proof of expenditure when standard documents (like formal receipts) are genuinely unavailable. |
| Outstanding Advance |
Funds provided to a staff member for project activities that have not yet been “retired” through the submission of receipts or the refunding of unspent cash. |
| Supporting Documentation |
The collection of evidence including approved budgets, attendance registers, training reports, payment vouchers, contracts, and photographs that proves a transaction was legitimate and authorized. |
| Ultimate Recipient |
The organization that receives funding directly from Global Affairs Canada and is responsible for managing sub-grants to WROs and CBOs. |
| WRO (Women’s Rights Organization) |
An intermediary in the funding chain that receives funds from the Ultimate Recipient and provides sub-grants and oversight to CBOs |
