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Financial ManagementRisk Management -2Though the likely risks are prioritiesed at the beginning of the project, while the project is implemented we may come across more risks which also needs to be listed and mitigative actions needs to be identified and closely monitored. In case of NGOs thouh there may be systems in place to check fraud and accountability, still ngos may have to face risks, so what an ngo needs to do to control or reduce the risks. Capacity Building and Accountability: a) Independent needs assessment and use of surveys b) Carefl identification and target beneficiaries c) Monitoring of operations with adequate systems to ensure d) Reporting on activities and outcomes with a view to analyse and verify informaton e) Idenfificatin and analyss of logical and access constraints and mitiating methods f) Reporting on fraud and diversion and participation in joint mechanisms to strengthen risk management, joint accountability frameworks and lessons learned g) Provide adquate and realistic funding for actual costs to allow NGOs to improve their risk manaement standards and accountability systems i.e. H.R.costs,use of new technology h)Provide incentives for NGOs to communicate early about suspected fraud, diversion i) Improve fundin policies to reduce pressure on NOs to spend j) Policies should be flexible with early communicaton of not meeting deadlines in time. k) Conduct reular, informal meetings with partners to alow information sharing on risk management. l) Provide guidance manaement on acceptable risk management standards and tools. m) Ensure continued focus on beneficairy and remote accountability Cash and Acrual based Accounting Accounting and Accounting Objectives ~ ngoportal |
