SADC Financial Regulations Effective 1 April 2013 Regulation  8  -­‐  Accounting  Officer   1. The Executive Secretary as Accounting Officer is accountable to Council for financial administration of SADC resources. 2. Specific elements of fiduciary responsibilities include: a) exercising functions and powers assigned to the Accounting Officer under these regulations; b) providing guidance and advice with compliance of these regulations c) acting with fidelity, honesty, integrity and in the best interests of SADC in managing its financial affairs; 3. Specific elements of financial administration responsibilities include: a) implementing the financial regulations in accordance with principles of good corporate governance, and b) seeking, within his/her sphere of influence to prevent any prejudice to the financial interests of SADC. 4. Specific elements of reporting responsibilities include: a) reporting in accordance with the provisions of the SADC Treaty under Article 15, and b) disclosing to the Council of Ministers all material facts which are available to the Accounting Officer for the purpose of ensuring that Council discharges its responsibilities. 5. The Accounting Officer shall be responsible to Council for: a) preparation and presentation of the Medium Term Strategic Plan in accordance with the financial regulations and procedures and planning and budgeting guidelines. b) formulation of implementation frameworks, specifying agreed policies, outcomes and outputs to be achieved, and taking into account the views of prior policy consultations; c) preparation and presentation of annual draft income and expenditure estimates and other such estimates as may be necessary and overseeing their implementation; and d) supervision of the finances, assets and liabilities of SADC, ensuring all financial transactions involving SADC resources are accounted for and Page 18 of 100