As the target year for the Millennium Development Goals closes, world leaders, donor agencies, and countries have set out ambitious objectives to increase the flow of development assistance, reduce world poverty, and improve the quality of life for millions of citizens.
Globally, the question that continues to beg answers is whether aid that is actually being provided by donor countries is reaching the intended beneficiaries, and how the developing countries are progressing towards agreed development indicators and benchmarks. Decision makers, opinion leaders and aid beneficiaries are searching for answers to these questions.
Lack of effective accountability and transparency remain the most serious challenge affecting Aid in Africa. At BernardFrank we have a vision to provide solutions around this challenge. Besides various assurance and audit service offerings, we have set up the International Development Aid Consulting (IDAC) practice which is an independent fiduciary agency where we partner with donor agencies to offer various tailored fiscal oversight on behalf of donors. We do this by acting as:
Local Fund Agents;
Fund Monitoring Agents;
Fiscal Agents; and
Procurement and payment Agents.
The aim of IDAC practice is to work closely with Donors and Governments to ensure that funds are utilized for intended purposes and program objectives are met in the region.