The African Development Bank, through its Financial Management Division for the Central, Northern and Western Regions, organised a workshop on 21 May 2026 in Abidjan on the procedures governing the audits of projects and programmes financed by the institution.
The workshop brought together financial management and procurement experts from the Bank, chartered accountants who are members of the Order of Chartered Accountants, and representatives of Côte d’Ivoire’s National Financial Control Directorate.
“The aim of this workshop is to improve the quality of audits submitted to the Bank and to identify potential bottlenecks in the auditor recruitment process,” said Sékou Keita, Head of the Financial Management Division of the Bank.
Keita noted that the Bank had identified some shortcomings in the reports submitted in recent years and stressed the importance of engaging directly with chartered accountants responsible for auditing Côte d’Ivoire’s portfolio of Bank projects.
He emphasised that the general conditions applicable to grant, guarantee and loan agreements require the external verification of funds disbursed by the Bank Group, including its concessional lending window, the African Development Fund, in line with international best practices.
Other shortcomings were also highlighted, such as inconsistencies between balance sheet figures and statements of funds, contradictory statements, the absence of a technical review or project progress updates, and unsigned financial statements or those relating to financial years other than those under review.
Mohamed Aliou Diallo, Senior Financial Management Officer at the Bank, underlined the crucial importance of quality control. He noted that financial management is a process designed to ensure the proper use of financial resources in accordance with the institution’s legal framework.
Diallo stated that financing agreements constitute the legal basis for the Bank’s operations, having been signed and ratified by regional member countries. These agreements include provisions relating to procurement plans, institutional arrangements, financial management and audit requirements.
During the workshop, Joseph Yao, a chartered accountant registered with the Order of Chartered Accountants, Order of chartered accountants, outlined the quality control mechanism established for its members. The mechanism aims to uphold professional standards and discourage undercutting of fees through an educational and supervisory approach. He also raised concerns regarding the Bank’s rejection of audit reports.
In response, Bank experts explained that reports are commonly rejected for reasons including failure to specify the applicable accounting framework, significant reporting errors, inconsistencies between financial statements and disbursement records, and audit periods that did not conform to the required reporting framework. The audit must be carried out by a firm registered with a national or regional Institute of Chartered Accountants and acceptable to the Bank, Mr Diallo noted.
The workshop also examined procedures relating audit terms of reference, as well as preparation of calls for expressions of interest and ‘shortlists.
Expected short-term outcomes from the workshop include improved acceptance rates for audit reports, the submission of more compliant and comprehensive reports, stronger adherence to reference standards, enhanced performance of management systems, and greater clarity and consistency in reporting.
Participants also highlighted the importance of improving the use of funds, ensuring compliance with accounting standards, and conducting both annual and end-of-project audits. In addition, audits must assess risks related to fraud and corruption in accordance with standard practices.