scholarly journals The Global Fund: Anti-Corruption, Transparency and Accountability

2020 ◽  
Author(s):  
Zhihao Chang ◽  
Jillian Kohler
Keyword(s):  
Global Fund ◽  
Risk Mitigation ◽  
Health Crisis ◽  
Management Framework ◽  
The Past ◽  
Risk Management Framework ◽  
Finance Ethics ◽  
The Board Of Directors ◽  
Procurement Fraud ◽  
Transparency And Accountability

Abstract Background: The Global Fund to Fight AIDS, Malaria and Tuberculosis has been a key international organization in improving the health of those affected by the three big diseases. It was created during a time of health crisis and did not have the necessary anti-corruption, transparency, and accountability (ACTA) structures in place to prevent fraud and corruption in its grants, which resulted in misuse of funds by grant recipients and loss of donor confidence in 2011. Almost one decade later, this paper seeks to describe the ACTA mechanisms within the Global Fund and their results. Results: At the highest level, the Board of Directors has restructured the Global Fund’s governing committees in 2011 and in 2016 to its current Audit and Finance, Ethics and Governance, and Strategy Committees. This has helped to delineate committee mandates and to strengthen the Board’s oversight and direction on operations. In addition, the Global Fund has adopted a rigorous risk management framework and has worked risk mitigation into all aspects of functioning. An Ethics and Integrity Framework was adopted in 2014 and an Ethics Office was established in 2016, resulting in increased conflict of interest disclosures and greater ethics considerations within the Global Fund. The Office of the Inspector General of the Global Fund has been effective in performing internal and external audits and investigations on fraud and corruption, suggesting changes to mitigate future risks, and implementing novel initiatives, such as the I Speak Out Now! campaign to encourage whistleblowing and to educate on signs of fraud and corruption. Finally, the “eyes and ears” of the Global Fund, the Local Fund Agents, have been involved in exposing fraud and corruption during the implementation of Global Fund grants. These mechanisms have reduced grant-related risks and procurement fraud in particular. Conclusions: Over the past decade, the Global Fund has developed a number of ACTA mechanisms. It will be critical that the Global Fund continues to monitor and evaluate how effective these mechanisms are and to make changes, when and where needed.

scholarly journals The Global Fund: why anti-corruption, transparency and accountability matter

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Zhihao Chang ◽  
Violet Rusu ◽  
Jillian C. Kohler
Keyword(s):  
Global Fund ◽  
Global Response ◽  
Management Framework ◽  
Risk Management Framework ◽  
Finance Ethics ◽  
Subsequent Loss ◽  
Potential Risks ◽  
Eventual Loss ◽  
Procurement Fraud ◽  
Transparency And Accountability

Abstract Background The creation of the Global Fund to Fight AIDS, Tuberculosis and Malaria, also known as the Global Fund, was prompted by the lack of a timely and effective global response, and the need for financing to fight against three devastating diseases: HIV/AIDS, tuberculosis, and malaria. During the formation of the Global Fund, necessary anti-corruption, transparency, and accountability (ACTA) structures were not put in place to prevent fraud and corruption in its grants, which resulted in the misuse of funds by grant recipients and an eventual loss of donor confidence in 2011. The Global Fund has instituted various ACTA mechanisms to address this misuse of funding and the subsequent loss of donor confidence, and this paper seeks to understand these implementations and their impacts over the past decade, in an effort to probe ACTA more deeply. Results By restructuring the governing committees in 2011, and the Audit and Finance; Ethics and Governance; and Strategy Committees in 2016, the Global Fund has delineated committee mandates and strengthened the Board’s oversight of operations. Additionally, the Global Fund has adopted a rigorous risk management framework which it has worked into all aspects of its functioning. An Ethics and Integrity Framework was adopted in 2014 and an Ethics Office was established in 2016, resulting in increased conflict of interest disclosures and greater considerations of ethics within the organization. The Global Fund’s Office of the Inspector General (OIG) has effectively performed internal and external audits and investigations on fraud and corruption, highlighted potential risks for mitigation, and has implemented ACTA initiatives, such as the I Speak Out Now! campaign to encourage whistleblowing and educate on fraud and corruption. Conclusions From 2011 onwards, the Global Fund has developed a number of ACTA mechanisms which, in particular, resulted in reduced grant-related risks and procurement fraud as demonstrated by the decreased classification from high to moderate in 2017, and the reduction of investigations in 2018 respectively. However, it is crucial that the Global Fund continues to evaluate the effectiveness of these mechanisms; monitor for potential perverse impacts; and make necessary changes, when and where they are needed.

Board Risk Oversight and Corporate Tax-Planning Practices

2020 ◽  
Author(s):  
Mark S Beasley ◽  
Nathan C. Goldman ◽  
Christina Lewellen ◽  
Michelle McAllister
Keyword(s):  
Board Of Directors ◽  
Tax Planning ◽  
Enterprise Risk Management ◽  
Corporate Tax ◽  
Management Framework ◽  
Risk Management Framework ◽  
Enterprise Risk ◽  
The Board Of Directors ◽  
Tax Benefits ◽  
Risk Oversight

Risk oversight by the board of directors is a key component of a firm's enterprise risk management framework, and recently, boards have paid more attention to their firm's tax-planning activities. In this study, we use a hand-collected sample of proxy statement disclosures about the board's role in risk oversight and provide evidence that risk oversight is negatively associated with both tax uncertainty and overall tax burdens. We find that risk oversight is most strongly associated with positions that yield permanent tax benefits and also with less risky tax-planning activities. Overall, the evidence suggests that board risk oversight is associated with more effective tax-planning practices.

scholarly journals Development of methodological approaches to establishing an integrated risk management framework for leasing transactions in Ukraine

2017 ◽  
pp. 49-63
Author(s):  
Anzhela Kuznietsova ◽  
Oleksandr Levchenko
Keyword(s):  
Risk Management ◽  
Product Life Cycle ◽  
Risk Mitigation ◽  
Management Framework ◽  
Risk Management Framework ◽  
Integrated Risk ◽  
Credit Mechanism ◽  
Risk Management Process ◽  
Low Efficiency ◽  
Integrated Risk Management

Based on studies of domestic and foreign researchers, the article gives a modified and extended classification of risks related to leasing transactions which includes a new classify cation attribute ‘by types of leasing activities’ (in terms of risk management). Risk mitigation techniques for leasing transactions are described in detail, as well as their essence, ways of introducing and expected outcomes. The advantages of securitization are summarized and key reasons for low efficiency of this method in the domestic leasing market are identified. For these reasons, the domestic stock market is less developed and Ukraine’s current legislation on leasing is imperfect. It is pointed out that success in development of Ukraine’s financial market relies on the growth of leasing along with the efficiency of financial and credit mechanism that supports leasing transactions and determines the quality of risk management framework as an integral part of such a mechanism. The process of risk management for leasing transactions is formalized. A comparative analysis of fragmentary and complex approaches applied in Ukraine towards establishing a risk management framework for leasing companies is undertaken. The paper justifies the necessity of establishing an integrated risk management framework for leasing transactions as part of financial and credit mechanism that supports leasing transactions. The need for establishing such a framework is driven by the following market trends: globalization; increased competition; company consolidation; product standardization; product life cycle decrease; technological innovation; increased attention to risks given by the state, society, stockholders and board of directors. It is stated that establishing an integrated risk management framework for leasing transactions involves the following progressive steps: setting goals and targets, identifying and evaluating risks, planning for potential risks, monitoring risks and introducing risk management process. The article highlights the main goal of an integrated risk management framework for leasing transactions, long-term tasks for achieving this goal, major function that the framework should perform and principles that it should preserve.

scholarly journals Risk Mitigation Strategy and Efficiency Improvement of PT Gasses Logistic Transportation using Six Sigma DMAIC Method

2021 ◽  
Vol 04 (12) ◽  
Author(s):  
Ramadytio Fadhli Prayogio ◽  
Keyword(s):  
Risk Management ◽  
Six Sigma ◽  
Oil And Gas ◽  
Risk Mitigation ◽  
Oil And Gas Industry ◽  
Mitigation Strategies ◽  
Pareto Chart ◽  
Management Framework ◽  
Risk Management Framework ◽  
Dmaic Method

PT Gasses Logistic is one of the companies that operates in the downstream oil and gas industry that focuses on providing logistic services and other support. From oil, gasses, to lubricant, together with their partnership, PT Gasses Logistic are responsible of transporting those goods to their consumers across Indonesia. Also, PT Gasses Logistic is the subsidiary/child company from one of the biggest state-owned enterprises in Indonesia. The core business of PT Gasses Logistic is transportation, that is why every type of problem in transportation needed to be solved quickly. Through this research, it is identified 4 problems by using Pareto Chart. The problems are work & traffic accident, losses while loading & unloading operation, risk in damaging MESRAN MIN 40, and risk in damaging RORED EPA MIN 90. Those problems will be evaluated with risk management framework and analyse further using Six Sigma DMAIC method. Risk management framework will be used to identify the risk rating for each risk, which will be used when planning the mitigation strategies. Six Sigma DMAIC method will identified what is the problem, how it the performance regarding the process related to the problem, what is the root causes, how to improve it, and how to control it. After using the risk management framework and Six Sigma DMAIC method, it is found that the root causes of the problems, which is identified by using fishbone diagram tools, is People and Machine. The author then provided the risk mitigation strategies solution of improvement, the implementation plan, and how to control it. With this research, the author hopes that it will help reducing/mitigating any losses received by PT Gasses Logistic incurred by those problems.

Developing and implementing the risk management framework into business processes of Gazprom transgaz Tomsk Ltd., for implementation of the Eastern gas program of PJSC Gazprom

2020 ◽  
Vol 17 (1) ◽  
pp. 68-77
Author(s):  
V. E. Zaikovsky ◽  
A. V. Karev
Keyword(s):  
Risk Management ◽  
Human Resources ◽  
Management Information System ◽  
Business Processes ◽  
Project Success ◽  
Management Information ◽  
Timely Manner ◽  
Project Approach ◽  
Management Framework ◽  
Risk Management Framework

Project success depends on the ability to respond to risks and make correct decisions in a timely manner. The project approach provides a better framework for implementing a new management system into the company’s business processes. The risk management framework developed by the company comprises a risk management infrastructure, a set of standards, human resources, and a risk management information system. To improve staff compliance, it is necessary to provide training and to communicate the goals of the project effectively. It is also important to develop a motivation system because well trained and motivated staff are able to work more efficiently.

Systems-based accident analysis in the led outdoor activity domain: application and evaluation of a risk management framework

Ergonomics ◽  
2010 ◽  
Vol 53 (8) ◽  
pp. 927-939 ◽  
Author(s):  
P. Salmon ◽  
A. Williamson ◽  
M. Lenné ◽  
E. Mitsopoulos-Rubens ◽  
C.M. Rudin-Brown
Keyword(s):  
Risk Management ◽  
Accident Analysis ◽  
Outdoor Activity ◽  
Management Framework ◽  
Risk Management Framework ◽  
Activity Domain
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