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21 February 2024

Harmonized Approach to Cash Transfers (HACT)

The policy and the procedures have been updated to reflect the following changes:Revision to approval requirements for direct payments in non-local currency has been added in paragraph 9 of the policy, where non-local currency payments to international suppliers engaged in line with the Letter of Agreement (LOA), the Responsible Party Agreement (RPA), the Performance Based Payment Agreement (PBPA), or similar contracts or agreements, as well as the project document or the annual work plan w...

The policy and the procedures have been updated to reflect the following changes:

  • Revision to approval requirements for direct payments in non-local currency has been added in paragraph 9 of the policy, where non-local currency payments to international suppliers engaged in line with the Letter of Agreement (LOA), the Responsible Party Agreement (RPA), the Performance Based Payment Agreement (PBPA), or similar contracts or agreements, as well as the project document or the annual work plan will be approved by Head of Office provided the contractual documents specify disbursements in non-local currency.
  • Seeking UNDP HQ Treasury’s approval before non-local currency disbursement are made has been removed in paragraph 9 of the policy in line with the new changes to paragraph 9.
  • The explanatory notes in step 7 of the procedure have been updated to reflect the changes in the policy.

21 February 2024

Harmonized Approach to Cash Transfers (HACT)

The policy and the procedures have been updated to reflect the following changes:Revision to approval requirements for non-local currency advances has been added in paragraph 9 of the policy, where payments for specifically identified activities and expenditures expected to be incurred in non-local currency in line with the Letter of Agreement (LOA), the Responsible Party Agreement (RPA), the Performance Based Payment Agreement (PBPA), or similar contracts or agreements, as well as the proj...

The policy and the procedures have been updated to reflect the following changes:

  • Revision to approval requirements for non-local currency advances has been added in paragraph 9 of the policy, where payments for specifically identified activities and expenditures expected to be incurred in non-local currency in line with the Letter of Agreement (LOA), the Responsible Party Agreement (RPA), the Performance Based Payment Agreement (PBPA), or similar contracts or agreements, as well as the project document or the annual work plan will be approved by the Head of Office, provided the contractual documents specify disbursement in non-local currency. Other non-local currency payments shall only be made, after seeking UNDP HQ Treasury approval.
  • Revision to paragraph 13 of the policy to include the requirement for UNDP HQ Treasury’s approval where the Partner maintains separate bank accounts for the project. If the project needs advances to make payments in local currency and non-local currency with applicable approval in line with the POPP, then two bank accounts matching the approved currencies of advances should be opened.
  • The explanatory notes in steps 8 and 9 of the procedure have been updated to reflect the changes in the policy.

16 February 2024

Internal Control Framework (ICF)

In response to an audit recommendation, the Internal Control Framework policy has been updated to demonstrate a clearer alignment with the Three Lines Model of the Institute of Internal Auditors, issued in July 2020.

15 February 2024

Risk Management

The Risk Appetite Statement, the Risk Appetite Statement Guidance, the Project Risk Register Template, the Risk Escalation Guideline, the Examples of Financial Quantification of Identified Risk and the Managing Risks Across UNDP Programming and Operations: Guidance Note have been translated into French and Spanish. Click on the respective link to access each document in the respective language:Risk Appetite Statement: French | SpanishRisk Appetite Statement Guidance: French | SpanishProject Risk...

The Risk Appetite Statement, the Risk Appetite Statement Guidance, the Project Risk Register Template, the Risk Escalation Guideline, the Examples of Financial Quantification of Identified Risk and the Managing Risks Across UNDP Programming and Operations: Guidance Note have been translated into French and Spanish. Click on the respective link to access each document in the respective language:

02 February 2024

Implement

Following the 2023 OAI GEF audit’s risk management recommendation, the BPPS/Vertical Funds Programme Support, Oversight and Compliance Unit has updated the Risk Management Framework for Vertical Fund Projects to include the Vertical Fund (VF) programme specific risks to be added to the Programme Risk Register platform in Quantum+ by the relevant business unit (i.e. Country Office) based on the result of PIMS+ risk dashboard analysis, in addition to the VF project specific risks to be added to th...

Following the 2023 OAI GEF audit’s risk management recommendation, the BPPS/Vertical Funds Programme Support, Oversight and Compliance Unit has updated the Risk Management Framework for Vertical Fund Projects to include the Vertical Fund (VF) programme specific risks to be added to the Programme Risk Register platform in Quantum+ by the relevant business unit (i.e. Country Office) based on the result of PIMS+ risk dashboard analysis, in addition to the VF project specific risks to be added to the Project Risk Register platform in Quantum. The Risk Management Framework for Vertical Fund Projects is published in the Monitor procedure, Step 2.4 of the Monitor policy page.