MCC Fiscal Agent Services Timor-Leste
The Fiscal Agent (FA) acts on behalf of Millennium Challenge Account (MCA)-Timor-Leste to provide a broad range of financial management services that are requested by MCA-Timor-Leste to implement activities funded under the Compact Development Fund Agreement and the Compact with MCC Funding (the Programme). In this capacity, the FA diligently oversees, discharges, and performs all services necessary to make sure that all financial management activities are conducted in strict compliance with the principles, rules, and procedures pursuant to the agreement between MCC and the Government of Timor-Leste (a Compact) and any supplemental agreements as defined in the Compact.
In our capacities as FA we establish and maintain a dual automated accounting system (SAP and SunSystems), develop all necessary procedures and the internal control system, participate in budgeting processes, and execute budget control. We are also responsible for accounting and reconciliation of all financial transactions under MCC funding and for cash forecasting, cash management & disbursement requests. The PFM Department executes all payments from MCC funding after having checked that payment requests are valid, accurate and in compliance with the Agreements between MCC and the recipient country. In addition, we prepare monthly budget and performance and accounting reports for MCA and MCC, train MCA project managers and project implementers on the financial management systems used by the FA maintenance of internal control system and protection of the financial management activity from fraud & corruption, waste and abuse.
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