Risk of inaccurate and insufficient chart of accounts. Risk of inaccurate or fraudulent financial reporting to conceal fraud, embezzlement or other wrongdoing. Risk of weak security in the IT system. Risk of not carrying out timely and periodic reconciliation of project records with the central accounting system; and of provincial records with the central ministry records. Asset Management Risk of not keeping complete and accurate listing of assets. Risk of non-existence of assets or asset substitution. Risk of misuse of assets. Risk of misuse of proceeds from the sales of assets It may include; Treasury Management and Fund Flow: Risk that adequate funds will not be made available for the project implementation, and specifically during the beginning of fiscal year. Risk of unpredictable availability of funds. Weak internal controls increase the risk of misuse of funds. Therefore Internal Controls and Internal Audit: key risks that need consideration while assessing risk associated with internal controls includes; Risk that weak internal control system is unable to prevent, correct and/or detect serious irregularities, misuse, and inefficient use of public funds. Risk of weak procurement law and practices. Risk of management override of controls. Risk of weak contract management leading to delays and cost overruns. Risk of leakages in payroll. Risk of irregular and delayed accounts reconciliation. Risk of non-independence or insufficient capacity of internal Auditor. Key fiduciary risks in the area of audit are; External Audit: Risk of low capacity of Financial Management staff to timely prepare and provide acceptable projects’ financial statements to the external auditors. Risk of delayed submission of audit reports. Risk of low capacity and skills to perform financial statement audits. Risk of unresolved audit observations. Criteria for apply: Firm can apply though UNDB or for easy reference click on the link below which guide you for registration onward. For any question, please contact Ahmad Rafi Otofat: +93 701133404. Deadline for EoI is December 04, 2017.
Risk of inaccurate and insufficient chart of accounts. Risk of inaccurate or fraudulent financial reporting to conceal fraud, embezzlement or other wrongdoing. Risk of weak security in the IT system. Risk of not carrying out timely and periodic reconciliation of project records with the central accounting system; and of provincial records with the central ministry records. Asset Management Risk of not keeping complete and accurate listing of assets. Risk of non-existence of assets or asset substitution. Risk of misuse of assets. Risk of misuse of proceeds from the sales of assets Treasury Management and Fund Flow: It may include; Risk that adequate funds will not be made available for the project implementation, and specifically during the beginning of fiscal year. Risk of unpredictable availability of funds. Internal Controls and Internal Audit: Weak internal controls increase the risk of misuse of funds. Therefore key risks that need consideration while assessing risk associated with internal controls includes; Risk that weak internal control system is unable to prevent, correct and/or detect serious irregularities, misuse, and inefficient use of public funds. Risk of weak procurement law and practices. Risk of management override of controls. Risk of weak contract management leading to delays and cost overruns. Risk of leakages in payroll. Risk of irregular and delayed accounts reconciliation. Risk of non-independence or insufficient capacity of internal Auditor. External Audit: Key fiduciary risks in the area of audit are; Risk of low capacity of projects’ Financial Management staff to timely prepare and provide acceptable financial statements to the external auditors. Risk of delayed submission of audit reports. Risk of low capacity and skills to perform financial statement audits. Risk of unresolved audit observations. Criteria for apply: Firm can apply though UNDB or for easy reference click on the link below which guide you for registration onward. For any question, please contact Ahmad Rafi Otofat: +93 701133404. Deadline for EoI is December 04, 2017.