• Support the PMU in ensuring that separate accounts for the project are duly maintained and that receipts and expenditures are duly segregated by financing source (e.g. ADB and Government funding);
• Support the PMU in improving the FM systems including the following:
o Support the setting-up of the accounting software in the PMU;
o Prepare/modify the Chart of Accounts (CoA) as necessary and automating the financial reporting to the extent possible.
o Develop FM manual for the project. The manual should summarize the applicable FM arrangements and cover the flow of funds, accounting, financial reporting and audit arrangements under the related activities; as well as,
o Contribute to the strengthening of the internal audit function for the project activities to be implemented under the ensuing loan including.
1. Support the PMU in ensuring that all payments are duly prepared, reviewed, authorized, and recorded in the accounting system correctly and in a timely manner, and all expenditure items meet the eligibility criteria as defined in the ADB financing agreement, and are supported by adequate documentation (invoice, contracts, evidence of payments etc..) as outlined in the ADB disbursement handbook;
2. Conduct periodic analysis of the execution of the procurement and disbursement projections and provide analysis of the any significant variances between planned vs actual expenditures;
3. Conduct an analysis of the financial execution of the approved procurement plan and budget, disbursement projections as well as financial vs physical progress. Analyze and document any significant variations;
4. Support the PMU in conducting quarterly reconciliation of the project disbursement records and ADB’s disbursement data available in the LFIS to ensure the correctness and completeness of the project records and financial reports/statements. Follow-up on any discrepancies to ensure these are resolved in a prompt manner;
5. Assist the PMU in preparing Withdrawal applications and in collection and filing of all supporting documentation in accordance with the relevant procedures outlined in the ADB loan disbursement handbook;
6. Assist the PMU in preparing financial information and analysis to be included in the quarterly progress reports in an agreed format to be submitted to ADB;
7. Assist the PMU in preparing separate project financial statements annually covering the activities financed under all the funding sources (e.g. ADB and Government funding) in a format agreed with ADB;
8. Support the PMU in ensuring that the project financial statements are audited and that the audit report, the audited consolidated financial statements and the management letter(s) are submitted to ADB in a timely manner;
9. Support the PMU in the follow-up of internal and external audit recommendations to further improve the internal controls of the project.
10. Assist the PMU in other tasks as assigned by the PMU director or equivalent