Financial Management Support to Projects
Financial Management is a key component of any project and contributes to its success. Our team offers financial support to clients at every stage of the project from planning to implementation and also facilitates efficient reporting to aid review.
Our services include:
Financial support to Project Design
Proper planning and Project Design provides a solid foundation for the smooth running and success of a project. Our team can provide adequate support to help our clients:
- in transforming resource requirements to a standard budget;
- Using the budget and project implementation plan to create a cash flow forecast;
- Create and or map the chart of accounts to the budget; and
- Implement a suitable accounting or financial management software for recording and reporting receipts and disbursements.
Internal Controls Assessment and Development
Implementing Partners are required to have sound internal controls to allow for best practice in managing project funds. Adequate controls when properly implemented can prevent errors and misappropriation of funds. Our team can:
- Investigate and assess the internal controls environment of Implementing Partners and provide a report to donors with recommendations where necessary on how to enhance the controls to suit the requirements of the donor; and
- Design and monitor the implementation of recommended controls in line with best practice.
Financial Support to Project Operations
Our team provides support to projects both on and off–site to ensure funds are managed and disbursed in line with donor requirements. We deploy staff to clients’ offices/project sites as may be required to perform the financial management function. Services include:
- Ensuring proper documentation and recording of all disbursements;
- Implementing an effective records maintenance system and ensuring documents are stored in a safe and secure environment; and
- Preparing periodic reports to include reconciliation statements, analysis of receipts and disbursements, comparison of actual against budget and any other reports as may be required by the donor.
Training in Financial Management and Capacity Building
We also offer training both formal and informal to finance departments or employees who wish to develop their capacity to meet donor standards of financial management and reporting.