The International Federation of Accountants signed a memorandum of understanding with the United States Agency for International Development; the Global Fund to Fight AIDS, Tuberculosis and Malaria; and Gavi, the Vaccine Alliance, to support programs for local accounting and finance professionals and efforts to improve financial transparency, accountability and anti-corruption efforts in the health sector public around the world.
The pact aims to support the continued collaboration between donors, the importance of which has been underscored during the COVID-19 pandemic, and the need for accountability and transparency on the use and management of funds. The partnership between IFAC, USAID, the Global Fund and Gavi will underscore the groups’ shared commitment to strengthening public financial management globally. Through this agreement, USAID, IFAC, the Global Fund, and Gavi hope to strengthen the expertise of accounting and finance professionals and help fill accounting skills gaps in implementing countries. , which may affect the reliability and efficiency of fund management and disbursement.
The memorandum builds on a 2011 agreement to optimize the joint efforts of global partners to maximize the performance of investments and support the sustainability of health programs. Ultimately, the groups hope the partnership will help improve the integration of donor investments into country systems, strengthen internal controls to reduce fiduciary and financial risks, improve grant absorption, and produce a greater impact.