Audit of Global Fund Internal Financial Controls
15 March 2021
The finance function has become a strategic enabler for the Global Fund, thanks to mature financial management processes, robust systems, effective controls and oversight, and adequate ownership over financial data. Performance is monitored regularly against KPIs, while controls for disbursements and payments of strategic initiatives and operating expenses are effective.
Improvements are needed however in Annual Funding Decision, disbursement and forecasting processes. Processes to identify, mitigate and track key actions similarly need to improve, and procedures and guidelines require updating to ensure consistent implementation of financial controls.