Terms of reference for a financial systems audit of the practices and policies related to monthly funding. The two objectives in the ToR are
1. Conduct a detailed reconciliation of the inflows and outflows related to the monthly/quarterly funding requests; and
2. Review the efficiency and effectiveness of the financial systems and controls implemented to manage the funding requests including reporting, record keeping, segregation of duties, etc.
Audit Objectives:
1. To assess the efficiency and effectiveness of construction management controls designed and implemented to manage the Project, including those related to change orders, materials management, bidding and tendering, financial systems and accounting, etc.
2. Provide an independent assessment on the quality control measures implemented to manage the construction including an opinion on the quality of work, materials, and craftsmanship.
Objectives:
1. Review the effectiveness and efficiency of internal controls utilized to manage the financial and accounting function over the incurrence and recording of the expenditures;
2. Review the efficiency and effectiveness of management systems including governance, HR, organizational structure and strategic planning; and
3. Assess the adequacy of the performance management framework including data collection, analysis, and reporting.
Objectives:
1. Examine if the current HR capacity and organization structure can sufficiently support the long-tern programmatic needs of the Institution; and
2. Assess the extent to which HR risks (and possible mitigation strategies) have been identified, documented, and addressed by the Institution.
Objectives:
1. To assess the effectiveness and efficiency of financial systems and controls in place, including those related to payment processing, budgeting, and record keeping.
2. To assess the effectiveness and efficiency of the program management including program planning, risk management, policies and procedures and human resource management.