Enhancing Compliance and Efficiency
Financial and procurement management is crucial for any organization. It ensures transparency, accountability, and efficiency in resource utilization. Acknowledging the need for improvement, MID-P, through DRC DANIDA civil society engagement programming supporting the sustainability of equitable and strategic Partners, engaged a consultant to review and update its Finance and Procurement Manual. The consultancy aligned existing policies with the current best practices, regulatory requirements, and emerging financial and procurement trends, ultimately enhancing internal controls and governance. The last review of the Manual was done in 2017; it was outdated and requires updates to reflect the latest compliance requirements and operational efficiency strategies. Key areas such as indirect cost recovery (ICR), procurement of goods and services, and financial reporting have not been adequately addressed. This created operational challenges, including inefficiencies in procurement processes, risks of non-compliance with donor regulations, and limited clear guidance on emerging financial management aspects. Additionally, staff members encountered difficulties in navigating procurement procedures, leading to inconsistencies and inefficiencies in supplier selection, contract management, and cost optimization. The absence of standardized guidelines also made it difficult to ensure accountability and transparency of financial transactions. The updated Finance and Procurement Manual now incorporates critical areas such as Indirect Cost Recovery (ICR), procurement of goods and services, financial reporting standards, contract…

