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Feb 10, 2025
The Harmonized Approach to Cash Transfers (HACT) policy has been updated to harmonize the Terms of Reference (TORs) for HACT Assurance Activities (audits and spot checks) with the HACT agencies also in alignment with the related Long-Term Agreements for Services (LTAS) for HACT services. As a result, Internal Control Audits for partners with “Low” or “Moderate” risk ratings will cease to be an option and only Financial Audits (in accordance with the International Standard on Auditing (ISA) 800 and ISA 805 (Revised)) are to be conducted for all partners. The scope of the revised TOR for financial audits includes a review of the partner's internal controls. The TOR for spot checks has been revised to incorporate the changes in the accounting standards and is in line with the International Standard on Related Services (ISRS) 4400 (Revised).
The HACT Tables, the HACT Annexes A-D and the Assurance activities planning and implementation procedure have also been updated to reflect these changes.