Training on International Financial Reporting Standards (IFRS 9)

As a function of good governance, financial management forms an integral part in the management of development projects and it involves the strategic planning, budgeting, and controlling of financial undertakings of any donor organization. Sound financial management is crucial for achieving the World Bank Group’s goals of ending extreme poverty and boosting shared prosperity in a sustainable, transparent, accountable, and efficient way in the management of public resources and is considered an essential element to improve governance and fight corruption.

The participants will be able to apply relevant knowledge, skills and exercise a professional approach in taking or recommending decisions relating to the financial management of the ongoing World Bank-funded projects. This training on advanced financial management for World Bank-funded projects will expose the participants to World Bank’s policies and procedures for financial management, procurement, and disbursement of financial management, reporting and auditing systems for effective and efficient delivery of projects’ objectives while ensuring long-term sustainability.

Target Participants

This course is ideal for Project Directors, Senior Accounting and Financial Management Staff engaged in the design and implementation of development projects in the public and private sector as well as non-governmental organizations that are major recipients of World Bank funds.

What you will learn

By the end of this training the participants will be able to: 

• Adhere and comprehend to financial guidelines of projects funded by World Bank
• Define and analyze the funding management structure and strategies for World Bank Projects
• Understand financial planning and budgeting for World Bank projects.
• Understand the fundamentals of financial accounting systems in World Bank funded programs.
• Analyze and interpret World Bank funded project reports for informed decision making.
• Comprehend the audit process of World Bank funded programs.
• Timely manage financial risks
• Comply with the guiding standards for compliance with government Tax, VAT, and other related laws.

Course Duration

Online             14 Days

Classroom       10 Days

Course Outline

• Introduction to World Bank Projects
• Overview of World Bank Funding
• Financial Management Fundamentals for World Bank Projects
• Financial Planning and Budgeting for World Bank funded Projects
• Working with Financial Statements
• Understanding the Accounting System for World Bank Programs
• Fund Management
• Financial Reporting for World Bank Programs
• Measuring Financial Performance
• Internal Control Systems for World Bank Programs
• Bank Accounts Operation Management
• Financial Risk Management
• Audit of World Bank Funded Programs
• Compliance of Government, Tax, VAT & Other Laws

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in financial management for world bank funded projects. The course is taught through a mix of practical activities, presentations, group works and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations and tailor-made needs.