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Albin Hubscher

Update to the Audit Committee CIAT Board Meeting #63 Nairobi, Kenya , 12 May 2011. Albin Hubscher. Year End Closing. All accounting activities completed in time FS finalized prior to March 31, 2011 Tax reporting completed in Colombia and USA

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Albin Hubscher

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  1. Update to the Audit Committee CIAT Board Meeting #63 Nairobi, Kenya, 12 May2011 Albin Hubscher

  2. Year End Closing • All accounting activities completed in time • FS finalized prior to March 31, 2011 • Tax reporting completed in Colombia and USA • FS distributed to all donors beginning of April

  3. E & Y Auditing Matters (Audit Committee November 2010) Highpriorityaction Midpriorityaction Lowpriorityaction

  4. External Audit Conclusions (November 2010 / March 2011)

  5. Internal Audits • Internal audits completed without major findings • Internal audit services continue to be supplied by IAU • IAU has finally a new Director • IAU cost to centers for audit services increase to $61,500 • IAU budget was recently approved but will most likely require additional appropriation

  6. Improvements on Financial Matters • Increased cost recovery index with projects • Accurate Financial System information • Implementation of financial policies (Hedging / Investments / Signing of Authority) • Development and update of Accounting, Grants Management and Financial procedures in 2011 • Follow up on Africa bank reconciliations • Review and adjustments of FG guidelines – System wide activity lead by Consortium

  7. Financial Information as of March 2011

  8. Bank Information CIAT, 4-2011 (Colombian Accounts)

  9. Bank Information CIAT, 4-2011 (International Accounts)

  10. Bank Information CIAT, 4-2011 (Funds in Trust)

  11. Back Up slides

  12. Cash Flow – Actual and Projection (Total Funds)

  13. Cash Flow – Actual and Projection (CIAT Funds)

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