Enhancing Integrity in Water Services Trust Fund for Improved Access to Water and Sanitation
Explore the importance of integrity and ethics in the Water Services Trust Fund for enhancing access to water and sanitation. Delve into concepts of integrity, ethics, and the detrimental effects of corruption. Learn from historical philosophers on virtue and wisdom and how they relate to ethical conduct. Discover lessons learned from pilot audits on financial compliance and best practices for maintaining transparency and accountability.
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Presentation Transcript
Water Services Trust Fund Financial Support for Improved Access to Water and Sanitation Your integrity and Dealing with Corruption Elizabeth Waruingi 1
This presentation Introduction : Group work (3 groups) Presentation by the groups: Conclusion : 3 Minutes 10 Minutes 10 Minutes 2 Minutes 2
Introduction Contexts of Integrity Individual Organization/Institution/Company Reporting Losing your Good Name is Risky! 3
Integrity and Ethics (Draft King III report): Integrity equals the adherence to formal requirements and the voluntary commitment to ethical standards and values Ethics equals integrity and responsibility Good corporate citizenship establishment of an ethical relationship of responsibility between the Institution and the society in which it operates equals the 4
Socrates, Plato and Aristotle Ultimate object of human activity is happiness, and the necessary means to reach it, virtue Virtue and ethics were directly associated with wisdom and that insight into life would naturally lead to right conduct Plato: ancient Greek philosopher, the second of the great trio of ancient Greeks; Socrates, Plato, and Aristotle, who between them laid the philosophical foundations of Western Encyclopedia Britannica). culture (source: 5
The best way for people to live was to focus on self- development rather on the pursuit of material wealth The converse of these is equal to CORRUPTION = dishonesty, bribery, sleaze, fraud, vice .. 6
Group Work 10 Minutes Presentation by the group leaders - 10 Minutes 7
Lessons learned from the pilot audit Non Compliance with the financing contract: Opening of bank accounts Reporting requirements Ineligible expenses: Reallocation of budget lines Unbudgeted payments Over expenditures on set budget lines 8
Lessons learned from the pilot audit Unsupported Expenses Poor Financial and Cash Management: Use of a spreadsheet as an accounting system Budget overruns No bank reconciliations Commingling of the project and WSP funds 9
Lessons learned from the pilot audit Unaccounted Imprest Inadequate monitoring Lack of value for money due to: Poor constitution of the procurement committees eg duplication of members in the tender and evaluation committees Lack of competitive bidding while procuring e.g. contractors 10
Lessons learned from the pilot audit Poor governance: Ineffective Board Lack of focus Corrupt Management Weak or no Internal audit No checks and balances in the organization structure Duplication of sensitive roles e.g. Finance and procurement Poor project implementation: Leaking pipes Vandalism Procurement flaws 11
Conclusion It takes 20 years to build a reputation and 5 minutes to ruin it and if you understand this you will do things differently If you lose dollars for the firm by making bad decisions, I will be very understanding. If you lose reputation for the firm, I will be ruthless. - Warren Buffett 12
Thank you 13
