risk management

4.

Currency fluctuations: How the Global Fund and PRs manage risk

12 Jun 2018
In countries with currency volatility, various approaches are used to protect procurement

Currency fluctuations are a major concern for Global Fund stakeholders, particularly recipient countries whose domestic currency can experience significant shifts over relatively short periods of time. The strength of both the US dollar and the Euro in recent years has further exacerbated this issue for many countries.

1.

OIG annual report says governments and partners are key to enabling the Global Fund to address quality of service issues

11 Jun 2018
The Fund, acting alone, cannot resolve these challenges

“There is often an asymmetry between the high level of accountability for impact that the Global Fund is generally held to and the sometimes low level of control that the organization has on many of the factors that drive such impact.”

4.

Until the Global Fund defines its risk appetite, it can’t know what level of assurance is required: OIG audit

9 Jan 2018
Assurance activities are insufficiently aligned to highest risk areas
Programmatic and health product risks have supplanted financial risk in the rankings

“The work on defining risk appetite is in its early stage and until [it is] sufficiently advanced, there is limited guidance on the required level of assurance.” This is one of main conclusions of an audit by the Office of the Inspector General (OIG) of in-country assurance.

3.

OIG audit of two Global Fund grants to Guinea finds significant weaknesses in supply chain management

5 Sep 2017
Improvements also required in grant implementation
Nevertheless, Guinea has made significant progress in the fight against the diseases

Although Guinea has made significant progress in the fight against the three diseases, despite a challenging operating environment, there are significant weaknesses in supply chain management and there are areas related to managing grant implementation that require improvement. These were the findings of an audit of Global Fund grants to Guinea conducted by the Office of the Inspector General (OIG).

6.

Significant improvements required in managing cloud computing at the Global Fund, OIG says

17 Jul 2017
IT controls deemed partially effective

While the Secretariat has improved its IT controls since the last IT audit conducted by the Office of the Inspector General (OIG) in 2015, significant improvements are required in two areas: (a) designing a cloud computing strategy; and (b) managing the risks associated with cloud computing.  

7.

Risk management processes at the Global Fund need significant improvement, OIG audit report says

13 Jun 2017
Weaknesses in oversight and accountability identified at Board and senior management levels

In its annual report, prepared for the Board meeting on 3-4 May 2017, the Office of the Inspector General (OIG) said that the Global Fund is making “significant progress” in managing risks (see GFO article).

1.

OIG sees improvement in the Global Fund’s grant-making processes, but identifies delays in implementing system enhancements

31 May 2017
Delays could affect the Secretariat’s ability to sign grants on time

The Office of the Inspector General’s second audit in three years of the Global Fund’s grant-making processes has found that many of the risks identified in the original audit have been addressed. However, the OIG said, implementation of systems enhancements has been delayed, which may affect the ability of the Fund to sign grants on time.

4.

Global Fund making “distinct progress” in managing risk: OIG

30 May 2017
One area that has not been adequately addressed is risk appetite

In its annual report for 2016, the Office of the Inspector General (OIG) said that although significant gaps remain, distinct progress is being made across the six key areas of the risk architecture (see figure below).

4.

Five strategic themes emerge from the OIG’s audits and investigations of Global Fund grants and processes in 2016

4 May 2017
Service quality heads the list of thematic areas

Five significant strategic themes emerged from the work of the Office of the Inspector General (OIG) in 2016:

8.

GNP+ describes “the qualities we will look for” in the next E.D.

3 Apr 2017

In a commentary posted on its website, the Global Network of People Living with HIV (GNP+) has identified three qualities that the next executive director of the Global Fund should exemplify. They are as follows:

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