Audit of Awarding and Monitoring of Grants by the Inter-American Foundation

Audit of Awarding and Monitoring of Grants by the Inter-American Foundation Audit Report Number 9-IAF-03-006-P February 28, 2003 Washington, D.C. February 28, 2003 MEMORANDUM FOR: IAF President, David W. Valenzuela FROM: IG/A/PA Director, Dianne L. Rawl /s/ SUBJECT: Audit of Awarding and Monitoring of Grants by the Inter-American Foundation (Report No. 9-IAF-03-006-P) This memorandum is our final report on the subject audit. In finalizing the report, we considered your comments on our draft report and have included this response as Appendix II. This report includes four recommendations to improve the Inter-American Foundation’s audit management system. In your written comments, you concurred with these recommendations and identified planned or undertaken actions to address our concerns. Consequently, we consider all recommendations to have received a management decision. The Foundation’s audit committee must determine final action on these recommendations, and we request to be notified of the committee’s actions. I want to express my sincere appreciation for the cooperation and courtesies extended to my staff during the audit. 1 Page intentionally left blank 2 Table of Sumary ofResult 5 Contents Background 5 Audit Objectives 6 Audit Findings: 7 Did the Inter-American ...