Fund Management
EPOS has gained solid expertise in Fund Management. In the context of large and complex programs and projects, EPOS manages funds in the following main areas:
- Procurement: Medical Equipment, Essential Drugs, Contraceptives
- Construction: Hospitals, Basic Health Facilities
- Services: Research, Training, Support to NGO‘s
The total procurement volume managed by EPOS in current projects is EUR 405 Million (USD 607 Million), split as follows (status 2007):
Donors and Projects
German Development Bank (KfW): Cameroon, Caucasus, China, Ethiopia, India Indonesia, Kyrgyzstan, Nepal, Senegal, Uzbekistan, Vietnam
- European Commission (EC): Nigeria, Turkey
- European Agency for Reconstruction (EAR): Serbia
Regions
Africa America Asia Europe Grand Total*
Services 42,1 0,2 18,7 34,8 95,8
Construction 8,6 45,2 53,8
Procurement 40,3 0,1 197,0 18,1 255,5
Total Region 91,0 0,3 260,9 52,8 405,1
* in Mio EURO in 2007
Financial Risk Management
EPOS has developed specific tools for risk minimisation and applies them successfully. Continuous small meshed monitoring of financial transactions ensures a smooth and correct allocation of funds in the context of projects and programmes EPOS is implementing, always in respect of the relevant administrative regulations and donor requirements. The main tools applied are the following:
- EPOS follows accounting practices conform to accepted standards
- EPOS has documented a set of internal controls, e.g. on handling of cash and deposits, approval over spending and disbursements
- EPOS reconciles all cash accounts monthly and prepares cash flow projections
- EPOS has a regularly independent audit of their financial statements prepared by a certified public accountant
- EPOS has suitable insurance coverage, consequently reviewed to ensure the appropriate levels
- EPOS ensures regular training and updates on accounting topics, with specific focus on donor requirements
