FINANCIAL MANAGEMENT AND AUDIT Sample Clauses

FINANCIAL MANAGEMENT AND AUDIT. A18.1 You must operate sound financial management systems and procedures.
Sample 1Sample 2Sample 3See All (20)
AutoNDA by SimpleDocs
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 AND OVERSIGHT Measure 2a Is the school meeting financial reporting and compliance requirements?

  • 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.

  • Fiscal Management Grantee must have accounting and internal control systems to ensure proper management of federal and state funds, maximize non-federal resources, and maintain solvency. Xxxxxxx’s accounting and internal control systems must meet the following requirements:

  • Financial Management Services ‌ Definition: Financial Management Services includes the planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. Examples: Service areas that are included under the Financial Management Services discipline include, but are not limited to the following:

  • 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.

  • Financial Management Standards The financial management systems of Grantee must meet the following standards:

  • Management and Financial Controls At all times, the School shall maintain appropriate governance and management procedures and financial controls which shall include, but not be limited to: (a) budgets, (b) accounting policies and procedures, (c) payroll procedures,

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.