Global health leaders Gavi, the Vaccine Alliance and the Global Fund to Fight AIDS, Tuberculosis and Malaria have joined forces with the International Federation of Accountants (IFAC) to contribute to, and support, the implementation of robust accounting practices in the public health sector and to improve overall financial management of donor funds by implementing countries.
Through this Memorandum of Understanding (MoU), Gavi, the Global Fund and IFAC seek to strengthen the expertise of accountancy and finance professionals and help close the gaps in accountancy skills in implementing countries, which can impact the reliability and effectiveness of managing and disbursing funds. The MoU builds on a 2011 agreement and aims to optimize the joint efforts of global health partners to maximize the performance of investments and support the sustainability of health programs.
“Gavi has cooperated with IFAC and national accounting organizations for a number of years to ensure sound financial management of the funding we provide to countries – this agreement allows us to go much further with a focus on the health sector, in leveraging the expertise of the accountancy profession to boost transparency, build local skills and capacity to improve overall accounting practices, and build a stronger ethical framework,” Anuradha Gupta, Deputy CEO of Gavi, commented. “That will ultimately bring economic and societal benefits to everyone.”
“Equipping our implementing partners with the right financial management skills is essential to maximize the impact of our investments and contributes to greater results in the fight against HIV, tuberculosis and malaria,” said Adda Faye, Chief Financial Officer at the Global Fund. “We are excited to join efforts with Gavi and IFAC to strengthen financial management, reporting, accountability, and transparency to better serve the societies and people in countries receiving Global Fund investments.”
“Robust and transparent accounting and reporting systems are the bedrock of strong public financial management and are thereby critical to the effectiveness and impact of Gavi and The Global Fund's disbursement of lifesaving funds and resources,” said IFAC President Alan Johnson. “Leveraging our global network and accountancy expertise, this MoU underscores the unique value that IFAC and our member bodies bring to organizations with a shared interest in enhancing the accountancy function to build a resilient and sustainable public health sector that leads to a fairer society for all.”
This work will start with a number of pilot countries in collaboration with local professional accountancy organizations (PAOs). Gavi and the Global Fund will be responsible for funding, selecting beneficiary organizations, and monitoring the implementation of targeted capacity-building activities which include training, establishing and reinforcing accountancy standards, reinforcing ethics and whistle-blowing policies, implementing diversity and inclusiveness policies and helping set up appropriate legal foundations, governance structures, and operational capacity.
Ultimately, this partnership will lead to better integration of Gavi and the Global Fund investments into country systems, better internal controls to reduce fiduciary and financial risks, enhanced absorption of grants and ultimately greater impact.
About Gavi, the Vaccine Alliance
Gavi, the Vaccine Alliance is a public-private partnership that helps vaccinate half the world’s children against some of the world’s deadliest diseases. Since its inception in 2000, Gavi has helped to immunise a whole generation – over 822 million children – and prevented more than 14 million deaths, helping to halve child mortality in 73 lower-income countries. Gavi also plays a key role in improving global health security by supporting health systems as well as funding global stockpiles for Ebola, cholera, meningitis and yellow fever vaccines. After two decades of progress, Gavi is now focused on protecting the next generation and reaching the unvaccinated children still being left behind, employing innovative finance and the latest technology – from drones to biometrics – to save millions more lives, prevent outbreaks before they can spread and help countries on the road to self-sufficiency. Learn more at www.gavi.org and connect with us on Facebook and Twitter.
The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners. View the full list of donor governments and other leading organizations that fund Gavi’s work here.
About the Global Fund to Fight AIDS, Tuberculosis and Malaria
The Global Fund is a worldwide movement to defeat HIV, TB and malaria and ensure a healthier, safer, more equitable future for all. We raise and invest US$4billion a year to fight the deadliest infectious diseases, challenge the injustice which fuels them and strengthen health systems in more than 100 of the hardest hit countries. We unite world leaders, communities, civil society, health workers and the private sector to find solutions that have the most impact, and we take them to scale worldwide. Since 2002, the Global Fund has saved 38 million lives.
About the International Federation of Accountants
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.