The Transaction Authority Matrix defines the Director IBA delegation to certain individual authority for particular transactions in line with their functional responsibilities. Individuals who hold Transaction Authority are referred to as “responsible individuals”. The Transaction Authority or Fund Manager or Budget Holder is individual responsible for all transactions on their fund(s) and is an authority to administer, approve, and execute transactions or agreements with external parties that commits the IBA. Although certain control and monitoring measures can be passed on or supported by administrative staff, permanent delegation of overall title and responsibilities of Transaction Authority is not permitted. Approval Authority is permission.
