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Irregularities prevention - detection - mitigation

Irregularities prevention - detection - mitigation. The role of the Financial Mechanism Office Hjortur Bragi Sverrisson Head of Legal Affairs Financial Mechanism Office 12 November 2008. Overview. Main principles FMO’s fulfillment of its obligation to detect, prevent and investigate :

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Irregularities prevention - detection - mitigation

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  1. Irregularitiesprevention - detection - mitigation The role of the Financial Mechanism Office Hjortur Bragi Sverrisson Head of Legal Affairs Financial Mechanism Office 12 November 2008

  2. Overview • Main principles • FMO’s fulfillment of its obligation to detect, prevent and investigate: • Review of irregularities reports and react when appropriate • Receive and process individual complaints • React to information from monitoring or audit reports or other sources • The role of the FMO is supplementary to the role of the Focal Points

  3. Main principles(from the good governance policy) • good governance is fundamental to the economic and social development process of all countries, and hence is inherently linked to the objectives of the financial mechanisms • donor states are committed to upholding the principles of good governance in the implementation of the financial mechanisms. • of the elements that threaten good governance, corruption is seen by the donor states as among the most destructive • donor states adhere to a strict zero-tolerance policy on corruption.

  4. Detect, prevent and investigate • Starts with sound selection and appraisal procedures • Supplemented by: • monitoring • audits • review of payment claims • Close co-operation and open dialogue with the Focal Points • Investigation initiated by the FMO in close co-operation with the donors and the Focal Points

  5. Review of irregularities reports • Reporting responsibility with the Focal Points • Broad definition of irregularities • Quarterly reporting • 4,000 euro limit • Immediate reporting in case of serious irregularities • Decision to suspend payments or demand reimbursement taken by donors

  6. Individual complaints • Nature • Procurement process • Selection process • Legal disputes • Reaction • Consultation with the Focal Points • Independent investigation • Decisions • Taken by the donors

  7. Monitoring and audits • Monitoring • Projects and funds over 2.5 million euro, • 5% of other projects • Any other projects which might appear to be problematic • Audits • EFTA Board of Auditors • Office of the Auditor General of Norway • Audits by the FMC • Auditing and monitoring activities by the donors is coordinated with the Focal Points

  8. Role of the Focal Point • Play the main role of the preventing, detecting, investigating, mitigating the effects of irregularities • Close co-operation with the FMO when irregularities occur

  9. Questions? Hjortur Bragi Sverrisson hbs@efta.int fmo@efta.int www.eeagrants.org

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