GGST - Global General Service UN Administrative Procedures Flashcards

Which UN financial rule governs the use of petty cash?

Answer: The Imprest Account Procedures

Imprest Account Procedures govern the establishment and use of petty cash funds for small, routine expenditures at UN offices.

In UN finance, what is a 'General Ledger' (GL) used for?

Answer: Tracking all financial transactions of the organization

A General Ledger is the master record of all financial transactions, used to prepare financial statements and monitor budgets.

What is the purpose of a 'Budget Allotment' in UN financial management?

Answer: Authorizing a unit to incur expenditures up to a specified amount

A Budget Allotment authorizes a programme manager to commit and spend funds up to the allotted amount for specific purposes.

What document is typically raised to initiate a purchase of goods or services in the UN system?

Answer: A Purchase Order (PO)

A Purchase Order is a formal document issued to a vendor to authorize the supply of specified goods or services at an agreed price.

What is the main function of an internal audit unit within a UN organization?

Answer: To provide independent assurance that controls and processes are effective

An internal audit unit independently evaluates whether risk management, governance, and internal controls are functioning effectively.

Under UN financial rules, what is 'expenditure obligation' or 'encumbrance'?

Answer: A reservation of funds against a budget for a committed but unpaid expense

An encumbrance is a reservation of budget funds to cover a commitment that has been made but not yet paid, ensuring funds are available.