Financial Monitoring and Accountability Training Course

Module 1: Fundamentals of Financial Management and Accountability

• Core concepts of financial management in a project context
• The role of financial accountability in organizational governance
• Key financial statements and what they tell you
• The connection between financial and program management
• Practical session: Analyzing a basic financial statement to identify key metrics

Module 2: Financial Planning and Budgeting for Projects

• Principles of effective budgeting
• Developing a project budget from a work plan
• Managing budget variance and forecasting
• Best practices for budget revisions
• Practical session: Creating a detailed budget for a sample project

Module 3: Financial Monitoring and Reporting

• Setting up a financial monitoring system
• Preparing regular financial reports for management and donors
• Reconciling accounts and ensuring data accuracy
• Using financial dashboards and other tools
• Practical session: Preparing a monthly financial report and identifying key variances

Module 4: Internal Controls and Risk Management

• The importance of a strong internal control environment
• Key internal controls for cash, assets, and transactions
• Identifying and assessing financial risks
• Developing a risk mitigation plan
• Practical session: Identifying internal control weaknesses in a case study

Module 5: Procurement and Asset Management

• Principles of transparent and fair procurement
• The full procurement cycle: from planning to contract management
• Maintaining an asset register and tracking assets
• Ensuring compliance with procurement policies
• Practical session: Developing a procurement plan for project equipment

Module 6: Auditing and Compliance

• Understanding different types of audits (internal vs. external)
• The audit process and how to prepare for it
• Responding to audit findings and recommendations
• Ensuring compliance with local laws and donor regulations
• Practical session: Preparing a mock audit file and responding to a list of audit findings

Module 7: Donor Reporting and Grant Management

• Navigating donor financial requirements and templates
• Preparing accurate and timely financial reports for donors
• Managing grant disbursement and close-out procedures
• The importance of communicating financial progress to donors
• Practical session: Completing a sample donor financial report

Module 8: Fraud Prevention and Ethical Financial Practices

• Recognizing red flags for financial fraud and mismanagement
• Developing and implementing a fraud prevention policy
• The role of ethics in financial accountability
• Reporting mechanisms for financial misconduct
• Practical session: Analyzing case studies of financial fraud and designing prevention strategies

Module 9: Utilizing Financial Data for Decision Making

• Turning financial data into actionable insights
• Using financial information to inform program strategy
• Cost-benefit analysis and resource optimization
• Communicating financial performance to non-financial staff
• Practical session: Using a financial report to make a strategic decision about a program

Module 10: Practical Application and Case Studies

• Comprehensive review of key concepts
• Working through a multi-stage financial management case study
• Q&A and troubleshooting common financial challenges
• Developing a personal action plan for improving financial practices
• Practical session: Participants work on a capstone project that involves managing a project's finances from start to finish

Requirements:

• Participants should be reasonably proficient in English.
• Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588