{"id":8537,"date":"2018-10-07T00:16:01","date_gmt":"2018-10-07T00:16:01","guid":{"rendered":"https:\/\/ceowatermandate.org\/integrity2\/?post_type=product&p=8537"},"modified":"2018-10-16T16:53:55","modified_gmt":"2018-10-16T16:53:55","slug":"tool-8-wsi-financing-and-audit-protocols","status":"publish","type":"product","link":"https:\/\/ceowatermandate.org\/template\/tool\/tool-8-wsi-financing-and-audit-protocols\/","title":{"rendered":"Tool 8: WSI Financing and Audit Protocols"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]\n\n\n\n\n\n\n\n\n\n
Tool<\/strong><\/span><\/td>\nA summary of key aspects of funding arrangements and processes that your WSI\u2019s financing and audit protocols should address.<\/span><\/td>\n<\/tr>\n
Related Key Activities<\/strong><\/span><\/td>\nEstablish equitable decision-making structures, communication, and finance.<\/span><\/td>\n<\/tr>\n
Question Addressed<\/strong><\/span><\/td>\nThere are private companies willing to invest in the WSI. How can we receive their funding while maintaining our independence and credibility?<\/span><\/td>\n<\/tr>\n
Purpose<\/strong><\/span><\/td>\nEnsure compliance with moral and legal duties related to funding arrangements:<\/span><\/p>\n
    \n
  • Reduce capture and other integrity risks.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Possible Users<\/strong><\/span><\/td>\nWSI initiators and participants.<\/span><\/td>\n<\/tr>\n
Level of Effort<\/strong><\/span><\/td>\nStaff time and possibly resources for external expertise during negotiation of financial agreements; efforts for administering agreements depend on complexity.<\/span><\/td>\n<\/tr>\n
WSI Phase<\/strong><\/span><\/td>\n1: Incubation and Initial Analysis, 2: Formalization.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]WSIs can engage the private sector to support, also financially, the development or implementation of water policies and services out of their own business interest. This requires high transparency standards and separation of roles in terms of financing and auditing vis-\u00e0-vis the governance and decision-making structure of a WSI. Otherwise, WSIs may run risks of capture, misleading expectations, or bad perceptions. Funding standards provide for a thorough due diligence investigation of funders, including an assessment of possible conflicts between public and private interests. Financial management and audit protocols then ensure the follow-through and implementation of agreed arrangements.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]

Guidance for implementation<\/h3><\/div><\/div>[vc_column_text]Five steps to guide the development of an integrity risk assessment tool are suggested below:<\/p>\n

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This tool is a summary of key aspects of funding arrangements and processes that your WSI\u2019s financing and audit protocols
\nshould address.<\/p>\n","protected":false},"featured_media":0,"template":"","meta":[],"product_cat":[641],"product_tag":[],"_links":{"self":[{"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/product\/8537"}],"collection":[{"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/product"}],"about":[{"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/types\/product"}],"wp:attachment":[{"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/media?parent=8537"}],"wp:term":[{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/product_cat?post=8537"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/ceowatermandate.org\/template\/wp-json\/wp\/v2\/product_tag?post=8537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}