IFAC signs MoU with USAID and others to support financial management in public health

The Worldwide Federation of Accountants signed a memorandum of being familiar with with the U.S. Agency for International Advancement the International Fund to Combat AIDS, Tuberculosis and Malaria and Gavi, the Vaccine Alliance to guidance programming for local accounting and finance gurus and attempts to improve money transparency, accountability and anti-corruption endeavours in the public health sector all-around the environment.

The pact aims to help ongoing collaboration amongst donors, the worth of which was emphasised in the course of the COVID-19 pandemic, and the need for accountability and transparency on the use and stewardship of resources. The partnership amongst IFAC, USAID, the World Fund, and Gavi will underline the groups’ shared commitment to strengthening community financial administration globally. By means of the settlement, USAID, IFAC, the World-wide Fund, and Gavi hope to reinforce accounting and money professionals’ skills and enable close the gaps in accounting skills in utilizing nations, which can have an impact on the reliability and effectiveness of controlling and disbursing resources. 

The memorandum builds on a 2011 arrangement with the goal of optimizing the joint initiatives of worldwide partners to maximize the overall performance of investments and assist the sustainability of health and fitness packages. Ultimately, the groups hope the partnership will support boost integration of donor investments into nationwide programs, fortify inner controls to minimize fiduciary and financial challenges, enhance absorption of grants, and deliver increased effect.