Building capacity in financial management with Good Financial Grant Practice workshop
From 11 to 13 June 2019, RESPIRE partner organisations gathered in Kuala Lumpur to take part in a Good Financial Grant Practice workshop.
What is Good Financial Grant Practice, and why is it important?
Good Financial Grant Practice (GFGP) is an innovative standard for best practice in the management of funds. It is designed to standardise, simplify and strengthen the governance of grant funding.
Building capacity in financial management is an important legacy for RESPIRE, enabling partners to attract further Official and Overseas Development Assistance funding in the future, as a result of transparent, streamlined accounting and governance practices.
The GFGP workshop
The three-day workshop, delivered by Humentum, is part of a wider support system for RESPIRE partner organisations working towards GFGP compliance.
All 11 of RESPIRE’s partner organisations participated in the workshop, increasing knowledge, skills and capacity. The training has helped to raise the profile of good accountability, governance and risk mitigation practices, both at Board level and among frontline Finance colleagues, from partner organisations who attended the workshop.
Discussions during the event also gave a deeper understanding of the financial management challenges that organisations face.
Following the training, partners are ready to build on their experience, taking steps to incorporate their learning within organisations. A number of partners also have plans to deliver knowledge sharing workshops, to further disseminate learnings within their own organisations.
I have learnt a lot from the workshop, in particular what the funders are looking for, viability of an organisation, some account terminology, and budget and spending. This will certainly inform our future fund application and running.