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 400 Million, split as follows (status 2008):

 

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	28,1	34,8	105,1
Construction	8,6		47,4		56,0
Procurement	42,3	0,1	177,2	18,1	237,7
Total Region	93,0	0,2	252,7	52,8	398,7

 

* in Mio EURO in 2008

 

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