Assessment of Financial Control Measures and Recommendations for Financial Safeguards
The objective of this short-term assignment was to analyze current operations of KWSP set-up and suggest appropriate ways forward. The consultancy is expected to make recommendations to strengthen the management and functioning of the KWSP in the following ways: Enhancing the procedures for KWSP disbursements to the supported institutions; Advising on reporting procedures that ensures prompt and quality delivery of service; Setting out the guiding principles for deciding who should undertake and be accountable for the procurement of goods, services, and works, irrespective of the aid and modality or partner through which the assistance is channelled. This was to be done in line with the proposals contained in the Financial Management Systems Manual. There was also a need to develop financial controls to ensure that when the Sector Advisor exits there would be no performance gap on the daily operations at KWSP.