FINANCIAL MANAGEMENT AND AUDIT Sample Clauses

FINANCIAL MANAGEMENT AND AUDIT. A18.1 You must operate sound financial management systems and procedures.
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FINANCIAL MANAGEMENT AND AUDIT. Processing of withdrawal applications (WA) and reimbursement of on granting activities is delayed by lengthy process at CPMU level and lack of guidance from the financial management specialists at CPMU, MOHA and MOA to the district and provincial agencies. The documentation for reimbursement submitted to CPMU is also often incomplete. Backlog or expenditures utilizing advance account is not reported to ADB resulting in delayed liquidation/replenishment (i.e. US$1.2 million or 41% of the initial advance deposited in Bank Indonesia). On 20 April 2020, the State Audit Agency (BPK) informed that the FY2019 audit report will be completed by Q3 2020 due to COVID-19. To address those issues the following actions have been agreed: Action By Due by Operationalize the tracking system for processing of on granting reimbursement activities after verification of documents by CPIU CPMU, MOA, MOHA Immediate Mobilize financial assistant in provincial and district agencies to accelerate utilization of on granting funds. CS02 17 July 2020 Provide guidance/checklist (to PPIUs and DPIUs) of required documents in preparation/submission of reimbursement of on-granting activities CS02 31 July 2020 Submit WAs to ADB for on-granting activities and CW04A initial payment CPMU 31 July 2020 Provide training on CPD to CPIU, CPMU and others ADB As needed Provide ADB with an update on the refund to the advance account for travel expenditures and VAT of vehicles as recommended by BPK in the APFS FY2018 DGWR 31 July 2020 Submit APFS FY2019 to ADB CPMU 31 Dec 2020 14. Implementation, Procurement and Disbursement Plans The mission updated the procurement plan (Attachment 3) and will request for approval from ADB to disclose this on the ADB website. All project activities are expected to be completed within the original period. The contract awards and disbursement projections have been revised and agreed with the executing agency. Detailed contract awards and disbursement projections for 2020 are presented in Attachment 4. Reallocation from MOA and MOHA CDD components to civil works will be assessed in Q4 2020, depending on the implementation progress. Despite extensive consultations, the CPMU has not yet submitted the updated Project Administration Manual (XXX) to ADB, which was due in September 2019. It is noted that in April 2020, ADB approved MOA proposal to revise the XXX. Action By Due by Update contract awards and disbursement projections CPMU 10 July 2020 then quarterly Submit the upd...
Sample 1

Related to FINANCIAL MANAGEMENT AND AUDIT

  • Financial Management, Financial Reports and Audits 1. The Recipient shall maintain or cause to be maintained a financial management system in accordance with the provisions of Section 4.09 of the General Conditions.

  • Financial Management (a) The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.09 of the Standard Conditions.

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions.

  • Monitoring and Audit Seller shall provide information on available audit logs and reports relating to cyber and physical and security. Company may audit Seller's records to ensure Seller's compliance with the terms of this Section 1(b)(iii)G (Critical Infrastructure Protection) of this Attachment B (Facility Owned by Seller), provided that Company has provided reasonable notice to Seller and any such records of Seller's will be treated by Company as confidential.

  • General Management In the discharge of its general duty to manage the successful performance of the Services, Vendor shall:

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

  • Accounting and Audit 5.2.1 The Contractor shall maintain and keep accurate Project records (which mean all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of seven (7) years from the date of Substantial Performance of the Work. The Contractor shall maintain the original Project records in its office in Ontario until all claims (which means any claim, demand, liability, damage, loss, cost, expense, suit, action or cause of action) have been settled as required by requirements of law.

  • Information Management Information and Records

  • Management and Control of the Company The Manager shall direct, manage and control the business of the Company to the best of such Manager’s ability and shall have full and complete authority, power and discretion to make any and all decisions and to do any and all things which the Manager shall deem to be reasonably required in light of the Company’s business and objectives.

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