The High-Level Independent Review Panel on Fiduciary Controls and Oversight Mechanism was established in March after the Global Fund’s Office of the Inspector General reported misappropriation of Global Fund grant funds in some countries.
The panel has assessed the Global Fund’s current practices in financial oversight and implementation. To perform the assessment, the members of the panel examined a representative sample of grants in 40 countries in different risk categories, drawing conclusions and making recommendations. The panel visited 12 countries and closely reviewed Global Fund policies and documents.
The panel has submitted its recommendations to the Global Fund’s Board and finds that the organization needs to focus much more on its core business of managing grants to save and protect lives. It recommends improving financial and Board oversight, simplifying grant application processes, and putting in place a robust risk management framework.
This independent review is a major part of a broader set of measures that continue to be implemented to strengthen the Global Fund’s financial safeguards.
29 November 2011
Report of the High Level Independent Review Panel on Fiduciary Controls and Oversight Mechanisms
Visit of the High Level Panel in El Salvador in August 2011 (only available in Spanish)
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