What is a common requirement for ensuring accountability in grant management?

Regular audits of financial records is essential in grant management because they provide a systematic evaluation of a grant recipient's financial processes and compliance with funding requirements. Audits help to ensure that funds are being utilized as intended, maintain the integrity of the financial reporting, and detect any discrepancies or mismanagement of grant funds. This is crucial for accountability as it allows stakeholders, including funders and governing bodies, to verify that grantees are adhering to the terms of their grant agreements.

While weekly team reviews, submission of project newsletters, and public presentations on project progress can be beneficial for communication and programmatic oversight, they do not specifically address the financial accountability aspect as thoroughly as regular audits do. Audits focus on financial correctness and adherence to regulations, which are fundamental in instilling trust and transparency in the grant management process.