pertaining to Procedures. Strong ICF achieved Tracking and policies including accountability of fiscal through the efficient and progress reports upgrades where Travel Policy. agents and fiduciary effective use of resources; necessary to meet trustees are functioning the safeguard of assets; the GEF minimum at SPREP. reliability of financial and accredited standards. other information, the Availability of New Policies compliance with procedures for introduced through regulations, rules and identifying internal this project will need established policies; the controls and assessing time to be tested and effectiveness of risk control details annually reported back to the management; and the for core financing GEF; Stage II adequacy of organizational management. application will be structures, systems and affected from the lack processes. Incompatible duties of evidence to testify segregated. the success of new policies that would meet GEF minimum accredited standards. Objectively verifiable indicators Sources of Project Strategy Risks and Assumptions verification Indicator Baseline value Target value and date Availability of Policy Financial disclosure SPREP's Financial SPREP's internal New Policies Output 2.3: and procedures for policy not available. Disclosure Policy and control introduced through SPREP's Financial Disclosure financial disclosure. financial Procedures Approved. framework this project will need SPREP’s Capacity strengthened and met reporting does not meet documented. time to be tested and international Financial Extent to which Procedures for financial international standards reported back to the Reporting Standards. financial disclosure in place and SPREP's SPREP’s or not compliant to GEF; Stage II reporting meets operational. Financial World Bank. application will be international standards Disclosure Policy. affected from the lack Financial reporting meets of evidence to testify international standards (is Financial the success of new World Bank compliant) Disclosure
pertaining to accountability of fiscal agents and fiduciary trustees are functioning at SPREP. Availability of procedures for identifying internal controls and assessing control details annually for core financing management. Incompatible duties segregated. Procedures. Travel Policy. Strong ICF achieved through the efficient and effective use of resources; the safeguard of assets; the reliability of financial and other information, the compliance with regulations, rules and established policies; the effectiveness of risk management; and the adequacy of organizational structures, systems and processes. Tracking and progress reports policies including upgrades where necessary to meet GEF minimum accredited standards. New Policies introduced through this project will need time to be tested and reported back to the GEF; Stage II application will be affected from the lack of evidence to testify the success of new policies that would meet GEF minimum accredited standards. Project Strategy Objectively verifiable indicators Sources of verification Risks and Assumptions Indicator Baseline value Target value and date Output 2.3: SPREP's Financial Disclosure Capacity strengthened and met international Financial Reporting Standards. Availability of Policy and procedures for financial disclosure. Extent to which SPREP’s financial reporting meets international standards Financial disclosure policy not available. SPREP’s financial reporting does not meet international standards or not compliant to World Bank. SPREP's Financial Disclosure Policy and Procedures Approved. Procedures for financial disclosure in place and operational. Financial reporting meets international standards (is World Bank compliant) SPREP's internal control framework documented. SPREP's Financial Disclosure Policy. Financial Disclosure New Policies introduced through this project will need time to be tested and reported back to the GEF; Stage II application will be affected from the lack of evidence to testify the success of new