1.1. This African standard on Good Financial Grant Practice describes the fundamental concepts and principles universally applicable to the following:
a) Organizations seeking sustained success through the implementation of effective financial grant practices, which standardize, simplify, and strengthen the financial governance of grant funding;
b) Grantors using the standard as a minimum requirement for their grantees;
c) Grantees claiming compliance with this standard to demonstrate robust governance of grants.
d) Organizations and interested parties seeking to improve communication through a common understanding of the vocabulary used in financial grant practices;
e) Organizations performing conformity assessments against the requirements of Good Financial Grant Practice standards;
f) Providers of training, assessment, or advice in financial grant practices; and
g) Developers of related standards.
1.2. This African Standard specifies the terms and definitions that apply to all Good Financial Grant Practice standards developed by ARSO/TC 73, on financial services.
Finances. Banking. Monetary systems. Insurance (ICS code(s): 03.060)
