Project ledger account balances

For the year 2004, three reconciliations were required (a) between the accounts payable ledger and the imprest cash book (b) between the general ledger (accounts payable account) and the bank statements and (c) between the due to due from account on the UNOPS and UNDP general ledger.

When the Atlas general ledger becomes fully functional, the last two reconciliations, between the general ledger and bank statements and UNOPS and UNDP due to due from accounts, will commence.

In paragraph 54, the Board recommends that the Administration strengthen its review controls to ensure that, in the preparation of financial statements, the detailed general ledger account balances agree with the totals of the details of corresponding account balances.

Comment by the Administration. Subsequent to the implementation of the IMIS payroll and global payroll to general ledger interface in July 2004, the Atlas general ledger module was rolled out in September 2004.

In paragraph 169 of the report, UNOPS agreed with the Board's recommendation that it, considering that it is responsible for its own general ledger, in conjunction with UNDP, intensify its efforts to resolve the limitations of the general ledger module as a matter of priority.

Therefore, supporting documents for X21 balances were only partially available at the headquarters when financial statements were prepared.

The general ledger module is thus in place, although it continues to have some system generated problems.

Management information on interest accruals is available via a query report of Atlas general ledger data.

Furthermore, UNOPS has indicated that its general ledger will be fully operational only in September 2005.

UNOPS 2005 year to date results will need to be verified before they can be entered into the general ledger.

The ledger captures all expenditures incurred by field offices and delivers close to real time access to management expenditure data

The necessity to implement control and monitoring procedures is further heightened by the fact that the UNOPS general ledger was not fully functional as at May 2005.

(a) Improved financial information reporting. In 2004 the field office management ledger was developed and implemented in all UNODC field offices.

The Board recommends that UNHCR separate funds received from the Iraq Trust Fund, and establish as soon as possible the planned separate ledger.

The Board recommends that UNHCR separate funds received from the Iraq Trust Fund, and establish as soon as possible the planned separate ledger.

UNOPS has not been able to produce a general ledger and it has had to develop an external revenue model spreadsheet to calculate its revenue.

Hong Kong academic Willy Wo Lap Lam echoed the words of bluebird0605 when he described this evolution

The Board notes that, by April 2005, UNOPS had not performed payroll reconciliations to verify the validity, accuracy and completeness of the payroll transactions in its general ledger.

While such a matter would call for the utmost caution, UNHCR did not establish from the outset a separate ledger account.

Comment by the Administration. The UNOPS general ledger is operational and will be fully functional and populated with data from source modules and systems by September 2005.

In paragraph 162, UNFPA agreed with the recommendation of the Board of Auditors, in conjunction with UNDP, to intensify its efforts to resolve the limitations on the general ledger module as a matter of priority.

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Investment ledger

Because of the time frame for project liquidation and submission of final subproject monitoring reports, the X21 balance as at 31 December was based on monitoring reports uploaded during the year, on a monthly or quarterly basis.

In paragraph 162 of the report, UNFPA agreed with the Board's recommendation that, in conjunction with UNDP, it intensify its efforts to resolve the limitations on the general ledger module as a matter of priority.

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They were monitored through a project ledger account (X21), cleared quarterly after a subproject monitoring report had justified their use.

According to paragraph 6 of the memorandum of understanding, each participating organization would establish a separate ledger account under its financial regulations and rules for the receipt and administration of the funds disbursed to it by the administrative agent (UNDP) from the UNDG Iraq Trust Fund account.

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(c) The Record Book, including the Summary of Judicial Activities Sheet

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