SADC Financial Regulations Effective 1 April 2013 Regulation  15  -­‐  Project  Management  Unit   1. The Accounting Officer shall approve the creation of Project Management Units (“PMUs”) for purposes of project/programme implementation. The Operating procedures of such PMUs shall be contained in the SADC Operational Manuals for Strategy Development, Operational Planning, Policy and Programme Development and Implementation Manual. 2. The Accounting Officer shall also constitute a steering committee to guide the operations of PMUs. The Steering Committee shall discharge the following functions: a) recommend approval of project budgets; b) approval of project monitoring reports, i.e. both non-financial and financial reports; c) approval of progress reports at least quarterly; d) providing management and technical guidance; e) recommend approval of the steering committee operating charter; f) recommends appointment of external auditors; g) recommends approval of the annual financial statements of projects; h) recommends in consultation with DBF approval the audit report format; and i) approval of project completion report. Page 28 of 100