Directorate of Financial Affairs

Presentation

The Directorate of Financial Affairs consists of four specialized divisions namely, the Division of Accounting and Financial Analysis, the Division of Budget and Treasury, the Division of Accounting Records and Auditing, and the Division of Stock Control and Depreciation.
Being one of the key bodies concerned with the implementation of SESCO’s action plans, the DFA monitors the implementation of the budget items adopted by the General Conference, taking into consideration to priorities defined by the Director General and in accordance with ISESCO’s Statutes and Financial Regulations. The Directorate also ensures follow-up on the commitments related to the budget items allocated to programmes, in coordination with other directorates and centres, with a view to attaining the objectives set out in the action plans. This is carried out through preparing of the annual and three-year budgets, along with the documents and periodic and annual financial reports, and ensuring follow-up on the Member States’ contributions to ISESCO’s budget.

Functions of the Director
  1. Under instructions from the Director General, the Director of Financial Affairs shall undertake the following tasks :
  2. Manage the Organization’s financial affairs;
  3. Prepare the Organization’s three-year and annual budget and coordinate with the directorates concerned with programmes’ implementation as well as with services and divisions in drawing up the budget guidelines before submitting the budget to the Executive Council and the General Conference;
  4. Implement budget items in accordance with the priorities set by the Director General in light of the Organization’s financial regulations and within the framework decided by the General Conference;
  5. Prepare reports on the annual closing accounts;
  6. Prepare for the meetings of the Financial Control Committee and supervise the Committee’s secretarial work;
  7. Supervise the auditing of the Organization’s tangible assets;
  8. Follow up matters relating to Member States’ contributions;
  9. Supervise the preparation of financial documents and reports to be submitted to the General Conference and the Executive Council;
  10. Identify the needs of the financial divisions concerning informatics and the follow-up of accounting operations;
  11. Upgrade the work of the Directorate to enhance its efficiency;
  12. Discharge any other task that may be entrusted to him by the Director General.
Division of Accounting and Financial Analysis
  • It shall undertake of the following tasks:
  • Prepare closing accounts and statements of receipts and expenditure at the end of each financial year;
  • Prepare bank reconciliation statements;
  • Analyze accounts, sort out accounting operations, analyze and control the charging of accounts;
  • Control the conformity of payment orders with accounting standards and procedures in accordance with the relevant regulations in force;
  • Reconcile amounts in financial documents or payment orders with the sums indicated in the corresponding checks or bank transfers;
  • Store accounting information in the computer;
  • Prepare periodic financial statements of the Organization’s receipts and expenditure;
  • Follow up monthly disbursements (loans, advances on salary, etc.) granted to the Organization’s staff members.
Division of Budget and Treasury
  • It shall undertake of the following tasks:
  • Take part in the preparation of the Organization’s three-year and annual budget and keep the accounts of the Organization’s budget;
  • Prepare operating and equipment budgets as well as the budgets covering the salaries and fringe benefits of the Organization’s staff;
  • Check the validity of vouchers before settlement;
  • Manage the Organization’s bank accounts;
  • Follow up the financial proceeds and check bank-proceeds accounting;
  • Undertake periodic control of check and cash transactions and prepare monthly statements thereon;
  • Check the monthly statement of wages and issue statements of salary transfers;
  • Follow up the contributions of Member States and write periodic letters to these States along with statements of arrears;
  • Prepare payment orders, checks and bank transfers;
  • Ensure financial settlement of assignments inside and outside the Seat Country;
  • Manage financial files and other accounting documents;
  • Follow up bank deposit and withdrawal operations.
Division of Accounting Records And Auditing
  • It shall undertake of the following tasks :
  • Check the validity of financial documents and their conformity with the financial resources earmarked for the programmes implemented;
  • Check the financial reports of the activities implemented;
  • Keep the financial documents related to various activities;
  • Follow up bank transfers to the accounts of regional offices;
  • Follow up the measures of tax recovery;
  • Control the accounts relating to the implementation of activities;
  • Follow up and review the accounts of the parties cooperating with the Organization.
Division of Stock Control and Depreciation
  • It shall undertake of the following tasks:
  • Monitor stock management, and control the periodic statements of their contents;
  • Examine and evaluate the Organization’s equipment and properties, and supervise their movements inside and outside the headquarters;
  • Number the equipment, record them in the administration registers, and prepare the depreciation statements;
  • Control the receipt and disbursement vouchers of the stores’ assets;
  • Control and count fixed assets and undertake the annual or extraordinary inventory.
  • Islamic Educational, Scientific and Cultural Organization
  • Avenue des F.A.R , Hay Ryad, PO Box 2275
  • PC Code 10104 - Rabat - Kingdom of Morocco
  • Tel: + 212 (0) 5 37 56 60 52 / 53
  • Fax: + 212 (0) 5 37 56 60 12 / 13
  • All Rights Reserved To ISESCO 2000 - 2016