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

Audit of Awarding and Monitoring of Grants by the African Development Foundation Audit Report Number 9-ADF-03-005-P February 28, 2003 Washington, DC February 28, 2003 MEMORANDUM FOR: ADF President, Nathaniel Fields FROM: IG/A/PA, Dianne L. Rawl /s/ SUBJECT: Audit of the Awarding and Monitoring of Grants by the African Development Foundation (Report No. 9-ADF-03­005-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 eleven procedural recommendations. In your written comments, you concurred with these recommendations and identified planned or completed 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 ask that we be notified of the audit committee’s actions. I want to express my sincere appreciation for the cooperation and courtesies extended to my staff during the audit. This Page Intentionally Blank 2 Table of Summary of Results 5 Contents Background 7 Audit Objectives 7 Audit Findings 9 Did the African Development Foundation award grants in accordance with Foundation policies and procedures? 9 ADF Needs to Validate Economic Assumptions Prior to Grant Approval 9 ADF Needs to Ensure That Environmental Reviews Are Completed 14 ...