SADC Financial Regulations Effective 1 April 2013 CHAPTER  1  –  FINANCIAL  REGULATIONS   PART  I  -­‐  PURPOSE  AND  SCOPE   Regulation  1  -­‐  Purpose  and  Scope     1. The SADC Financial Regulations define the framework in which the financial administration of SADC shall be undertaken. 2. The purpose of these Financial Regulations is to secure sound and sustainable management of the financial affairs of SADC by establishing norms and standards and other requirements for: (a) ensuring transparency, accountability and appropriate lines of responsibility in the financial affairs of SADC; (a) the management of SADC revenues, expenditures, assets and liabilities and the handling of their financial dealings; (b) budgetary and financial planning processes and the co-ordination of those processes; (c) financial reporting; (d) establishing internal control and risk management systems and processes; (e) borrowing; (f) supply chain management; and (g) other financial matters. 3. The provisions in these Financial Regulations shall apply on all resources of SADC. Page 6 of 100