PHIG Policy Framework v1.2 · Policy 52 · Adopted 1 September 2026 · References: ASF Policy 37; EU MGA Art. 25; 2 CFR 200.514 (single audit principles, reference); IIA International Standards (reference); UN HACT assurance activities
1. Purpose and scope
To give the Board independent assurance that controls work, funds are used as intended and policies are followed. Applies to the Board, the Director, staff, consultants, volunteers, experts, partners and suppliers of PHIG and all platforms of its network.
2. Policy
- The Finance and Audit Committee oversees an annual assurance plan covering: financial controls, grant compliance (sample of transactions per grant), procurement files, time records, asset verification, data protection, safeguarding and PSEAH implementation, and automated systems.
- Internal audit work is performed by a person independent of the activity audited — an independent Board member, a volunteer professional, or an external firm engaged for the purpose — reporting to the Committee, not to the Director.
- External audit: annual statutory or donor-required audit by an independent licensed auditor appointed by the Board; grant-specific audits as grants require; management letters answered with an action plan.
- Findings are tracked to closure; the Committee reports to the Board twice a year; serious findings reported to donors under the Disclosure Policy.
- Donors, their auditors, OLAF, EPPO, the European Court of Auditors, US agencies and inspectors general have full access as grants provide.
3. Procedures
- Assurance plan; audit tracker; management-letter responses.
Responsibilities
Finance and Audit Committee; Board; Director implements actions.
Review
Every two years and when donor rules change.
Part of the PHIG Policy Framework. Breaches and concerns may be reported under the Whistleblowing Procedure to info@accreditation.ge (subject “Confidential — integrity”).