Financial Management, Budgeting and Auditing of Donor Funded Projects course

Financial Management, Budgeting and Auditing of Donor Funded Projects course

Course Date Duration Location Registration
09/10/2023 To 20/10/2023 10 Days Nairobi Kenya
06/11/2023 To 17/11/2023 10 Days Mombasa, Kenya
04/12/2023 To 15/12/2023 10 Days Nairobi, Kenya
18/12/2023 To 29/12/2023 10 Days Mombasa, Kenya
08/01/2024 To 19/01/2024 10 Days Nairobi Kenya
05/02/2024 To 16/02/2024 10 Days Mombasa, Kenya
04/03/2024 To 15/03/2024 10 Days Nairobi Kenya
01/04/2024 To 12/04/2024 10 Days Kigali,Rwanda
29/04/2024 To 10/05/2024 10 Days Nairobi Kenya
27/05/2024 To 07/06/2024 10 Days Nairobi Kenya
24/06/2024 To 05/07/2024 10 Days Dubai
22/07/2024 To 02/08/2024 10 Days Nairobi Kenya
19/08/2024 To 30/08/2024 10 Days Nairobi Kenya
16/09/2024 To 27/09/2024 10 Days Nairobi Kenya
14/10/2024 To 25/10/2024 10 Days Nairobi Kenya
11/11/2024 To 22/11/2024 10 Days Mombasa, Kenya
02/12/2024 To 13/12/2024 10 Days Nairobi Kenya
16/12/2024 To 27/12/2024 10 Days Mombasa, Kenya

Course Introduction:

Financial management, budgeting, and auditing play a crucial role in the effective utilization and accountability of donor funds in development projects. The Financial Management, Budgeting, and Auditing of Donor-Funded Projects Course aims to equip participants with the knowledge and skills necessary to manage finances, develop budgets, and ensure financial accountability in projects funded by donors.

The course begins by providing an overview of financial management in the context of donor-funded projects. Participants will learn about the principles and best practices of financial management, including financial planning, budgeting, expenditure tracking, and reporting. They will understand the roles and responsibilities of project managers, financial officers, and other stakeholders in ensuring the effective and transparent use of donor funds.

Next, the course delves into budgeting for donor-funded projects. Participants will learn how to develop realistic and comprehensive budgets that align with project objectives and donor requirements. They will explore techniques for estimating project costs, allocating resources, and managing budget variances. Participants will also gain insights into the importance of budget monitoring and control to ensure funds are utilized efficiently and effectively.

Furthermore, the course covers financial reporting and accountability. Participants will learn how to prepare financial reports that comply with donor guidelines and regulations. They will explore techniques for financial analysis and interpretation to assess project financial performance. Participants will also gain insights into the role of internal and external audits in verifying financial transactions and ensuring compliance with donor requirements and financial regulations.

The course also addresses financial risk management in donor-funded projects. Participants will learn how to identify, assess, and mitigate financial risks that may impact project implementation. They will explore strategies for financial contingency planning and the establishment of internal controls to safeguard donor funds. Participants will also gain insights into fraud prevention and detection measures in financial management.

Throughout the course, participants will engage in practical exercises, case studies, and group discussions to apply the concepts and techniques learned. They will have the opportunity to analyze financial data, develop budgets, and practice financial reporting and auditing skills in a simulated environment.

 

By the end of the course, participants will have a comprehensive understanding of financial management, budgeting, and auditing in donor-funded projects. They will be equipped with the skills necessary to effectively manage project finances, develop budgets, ensure financial accountability, and comply with donor regulations. Whether working in project management, finance, or development planning, participants will have the tools and insights to effectively utilize and account for donor funds in their professional roles.

 

Course Objectives:

  1. Understand the principles and best practices of financial management in the context of donor-funded projects.
  2. Learn how to create accurate and realistic budgets that align with project goals and meet donor expectations.
  3. Familiarize participants with various auditing techniques and approaches to ensure transparency and accountability.
  4. Develop the ability to analyze financial data, identify risks, and implement appropriate financial controls.
  5. Comprehend donor-specific reporting guidelines and procedures.
  6. Enhance skills to communicate financial information effectively to stakeholders and donors.

Organizational Benefits:

  • Improved financial management practices for donor-funded projects, leading to better fund utilization and reduced wastage.
  • Enhanced ability to attract and secure donor funding through transparent and efficient financial systems.
  • Increased compliance with donor requirements, reducing the risk of financial penalties or reputational damage.
  • Strengthened internal controls and risk management processes, safeguarding the organization's reputation and resources.
  • Equipped staff with the skills to handle complex financial tasks, resulting in higher project success rates and impact.

Who should attend?

The Financial Management, Budgeting, and Auditing of Donor Funded Projects course is beneficial for a wide range of professionals involved in managing and overseeing projects funded by donors. The course is particularly relevant for:

  1. Project Managers: Individuals responsible for the overall management and implementation of donor-funded projects, including financial aspects.
  2. Finance Managers: Professionals responsible for financial planning, budgeting, and financial reporting in donor-funded projects.
  3. Program Officers: Individuals involved in program planning and coordination, who need to understand the financial management requirements and compliance standards for donor-funded projects.
  4. Grant Managers: Professionals responsible for managing grants, ensuring proper utilization of funds, and complying with donor guidelines.
  5. Accountants: Accountants involved in the financial management and reporting for donor-funded projects, including budgeting and auditing.
  6. Auditors: Internal and external auditors who want to specialize in auditing donor-funded projects and ensure compliance with financial regulations.
  7. Development Practitioners: Individuals working in the field of development who want to gain a comprehensive understanding of financial management, budgeting, and auditing in the context of donor-funded initiatives.
  8. NGO and Nonprofit Staff: Employees of non-governmental organizations (NGOs) and nonprofit organizations involved in managing donor-funded projects.
  9. Government Officials: Government personnel involved in managing and implementing projects funded by external donors.
  10. Consultants and Advisors: Professionals providing consultancy or advisory services related to financial management, budgeting, and auditing of donor-funded projects.

 

Course Duration:

The course is conducted over a period of 2 weeks

Course Content

Module 1: Introduction to Donor-Funded Projects

  1. Overview of donor funding and its significance for development projects.
  2. Key stakeholders involved in managing donor-funded initiatives.
  3. Understanding donor expectations and compliance requirements.

Module 2: Financial Management Principles

      4. Fundamentals of financial management in the context of projects.

  1. Budgeting techniques and forecasting methods.
  2. Financial reporting and analysis for decision-making.

Module 3: Budget Development

      7. Elements of a comprehensive project budget.

  1. Aligning budgets with project objectives and timelines.
  2. Mitigating budgetary risks and uncertainties.

Module 4: Financial Controls and Internal Audit

      10. Establishing effective financial controls in donor-funded projects.

  1. Internal audit processes and their role in ensuring accountability.
  2. Fraud prevention and detection measures.

Module 5: Introduction to Donor Reporting

      13. Types of donor reports and their purposes.

  1. Understanding reporting deadlines and formats.
  2. Effective communication of financial information to donors.

Module 6: Auditing Techniques for Donor-Funded Projects

      16. Audit planning and risk assessment.

  1. Conducting a financial audit: techniques and procedures.
  2. Addressing audit findings and recommendations.

Module 7: Financial Compliance and Legal Requirements

      19. Legal aspects of managing donor funds.

  1. Compliance with donor-specific regulations and policies.
  2. Navigating challenges in financial compliance.

Module 8: Monitoring and Evaluation of Financial Performance

      22. Key performance indicators (KPIs) for financial management.

  1. Tracking financial progress and project outcomes.
  2. Using financial data for continuous improvement.

Module 9: Financial Reporting Tools and Software

      25. Introduction to financial management software and tools.

  1. Hands-on training on financial reporting platforms.
  2. Data security and confidentiality considerations.

Module 10: Case Studies and Practical Exercises

      28. Analyzing real-life case studies of successful donor-funded projects.

  1. Role-playing exercises to simulate financial management scenarios.
  2. Group discussions and peer learning opportunities.

 

General Notes

·         All our courses can be Tailor-made to participants' needs

·         The participant must be conversant in English

·         Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.

·         Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)

·         Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule

·         Course duration is flexible and the contents can be modified to fit any number of days.

·         The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.

·         Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.

·         Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.

·         One-year free Consultation and Coaching provided after the course.

·         Register as a group of more than two and enjoy a discount of (10% to 50%)

·         Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.

·         For any inquiries reach us at training@fdc-k.org or +254712260031

 

 

·         Website:www.fdc-k.org

 

 

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