Course Overview
Financial Management plays a pivotal role in any organization. Programs can run well, but with no financial discipline the programs will fail. In an economy where the resources are scarce, donors and other stakeholders want to be assured that the financial resources are properly accounted for to achieve desired results at optimal cost. The Financial Management System should provide a way of recording financial transactions, managing risk, and analyzing and interpreting information for decision making.
USAID provides funding to many organizations through grants, cooperative agreements, contracts, and other forms of assistance. The many organizations managing USAID funds have different accounting systems and practices. New recipients of USAID funding are met with some financial requirements that may not be common to their normal practice.
This training has been designed as a practical guide to set up and manage an ideal Financial Management System for USAID recipients to support the success of programs.
Training Objectives
The goal of this training is to equip all those persons charged with financial oversight of USAID funded projects with the requisite knowledge to discharge their duties of financial management effectively. Recipient organizations must understand the financial framework for managing USAID programs and activities. They should set up necessary controls to properly account for the funds and institute procedures to avoid or minimize loss, waste, and abuse of US government, other donor, and local partner resources.
By the end of this training, participants should assess their own Financial Management Systems to determine if there are any deficiencies that need to be addressed. Implementing partner participants should also be alert to the risk of fraud and put in place measures that will detect, prevent, or mitigate potential loss.
Duration 1 week
Course Content
Module2: Financial Management Standards
module 4: Fraud Awareness and Prevention
Module 5: Financing Mechanisms and Payments Methods
Module 6: Procurement Standards
Module 7: Property Management Standards
Module 8: Recipient/Sub-Recipients Relationships
Module 9: Personnel and Payroll
Module 10: Travel & Transportation
Module 13: Pipeline Management
Module 14: Financial Reporting Standard Form
Module 15: Assessments and Capacity Building
Module 16: USAID Financial Audits
Module 17: Award Extension and Close-Outs
Module 18: Other Important Information for Recipients
Training Methodology
This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
Training manuals and additional reference materials are provided to the participants.
Certification
Upon successful completion of this course, participants will be issued with a certificate.
Tailor-Made Course
We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations, and tailor-made needs. Training on
