Fiscal agents have been part of the Global Fund Financial management system in countries with high or moderate fiduciary risks since 2012. According to the Global Fund Guidelines on Financial Risk Management, fiscal agents reduce financial risks originating from weak financial management of principal or sub-recipients of Global Fund grants.
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Fiscal agents reduce financial risks within Global Fund grants but do not build implementer capacity
Problems operationalizing safeguards to mitigate financial risks create delays in implementing Global Fund’s malaria grant to Cambodia, OIG says
OIG investigation reveals small-scale fraud by a supplier for a Global Fund TB grant to Burkina Faso
An investigation by the Office of the Inspector General (OIG) has found evidence of small-scale fraud on the part of a local supplier. It also found that the principal recipient (PR) of a TB grant did not take appropriate action in awarding a contract to the supplier and in responding to the fraudulent activities once they became known.
The OIG last reviewed Malawi in 2010 with that audit being published in August 2012. That audit identified weaknesses in financial management, sub-recipient management, procurement and supply chain management. Malawi has since had to repay $3.3 million of the $36 million it utilized due to findings of improper spending unearthed by a 2012 audit.
Despite efforts made the Secretariat and despite significant investments – over $800 million in the past few years – there are still major deficiencies in the Nigeria portfolio’s internal controls, affecting procurement and supply chain management, financial management, and program management.