Financial Accountability and Transparency (FAFT)

Financial Accountability and Transparency (FAFT) refers to the effective management and clear reporting of financial resources. It ensures organizations and governments use funds responsibly, avoid waste or fraud, and provide accurate information about financial activities. FAFT promotes trust by making financial actions visible and understandable to stakeholders, including the public, investors, or regulators. Essentially, it’s about handling money ethically and openly, so everyone can see that resources are managed properly and for their intended purpose.