Audit of Awarding and Monitoring of Grants by the African Development Foundation

Audit of Awarding and Monitoring of Grants bythe African Development FoundationAudit Report Number 9-ADF-03-005-PFebruary 28, 2003Washington, DCFebruary 28, 2003MEMORANDUMFOR: ADF President, Nathaniel FieldsFROM: IG/A/PA, Dianne L. Rawl /s/SUBJECT: Audit of the Awarding and Monitoring of Grants by theAfrican Development Foundation (Report No. 9-ADF-03-005-P)This memorandum is our final report on the subject audit. In finalizing thereport, we considered your comments on our draft report and have includedthis response as Appendix II.This report includes eleven procedural recommendations. In your writtencomments, you concurred with these recommendations and identifiedplanned or completed actions to address our concerns. Consequently, weconsider all recommendations to have received a management decision. TheFoundation’s audit committee must determine final action on theserecommendations, and we ask that we be notified of the audit committee’sactions.I want to express my sincere appreciation for the cooperation and courtesiesextended to my staff during the audit.This Page Intentionally Blank2Table of Summary of Results 5ContentsBackground 7Audit Objectives 7Audit Findings 9Did the African Development Foundation award grants in accordance with Foundation policies and procedures? 9ADF Needs to Validate EconomicAssumptions Prior to Grant Approval 9ADF Needs to Ensure That EnvironmentalReviews Are Completed 14Did the African ...