The Salvation Army and Stakeholder Governance

As a registered charity and religious institution, the Salvation Army has been in existence for quite a long time. Though some organizations waited for the government to formulate laws that governed the use of public money, practices of transparency, financial disclosure and accountability have been engraved in their procedures even before that (Institute of policy studies, 2010). External stakeholders in the institution are found in the organization.Stakeholders in the organisation are not owners in any aspect and neither do they work in the organization but partner with the organisation in ventures that are of interest to both of them. They are called external stakeholders. Being part of the projects the stakeholders have expectations on the information they should get from the institution regarding the finance they contribute and the activities that are undertaken (Bhatia, 2007).Financial disclosures in terms of balance sheets and income statements are important to the stakeholders especially since they contribute to the kitty of the events or activities that are carried out.