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Webinar: First Nations Financial Transparency Act (FNFTA) [Indigenous and Northern Affairs Canada, INAC]

Indigenous and Northern Affairs Canada
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This act requires First Nations to prepare annual audited consolidated financial statements and schedules of remuneration and expenses paid to Chief and Council. Again this is not a new requirement, it's something that is part of the funding agreements that First Nations have with the Department of Aboriginal Affairs. This particular Act, is intended to provide the transparency between First Nations Citizens and their leaders and to shift the accountability bargain from First Nations to the Government of Canada more to First Nations being accountable to the people they serve. The legislation requires these documents to be made available to members and to be published on a website within 120 days of the end of the fiscal year. This Act is applicable to the 582 Indian Act bands across the country. What this means is that it excludes First Nations that are part of self-government agreements that have negotiated self-government agreements so that's why we have a number of 582.


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