Gert van der Linde World Bank. 7 th Annual CABRI Seminar, Rwanda, August 2011
|
|
- Lucas Morrison
- 5 years ago
- Views:
Transcription
1 Gert van der Linde World Bank 7 th Annual CABRI Seminar, Rwanda, August
2 Overview International experiences Key conceptual issues Accountability Budgeting Budget execution Accounting Reporting A few examples Incentives and enforcement Conclusion 2
3 Selected International Experience United States - accrual-based financial reports, but has not announced any plans to adopt accrual budgeting United Kingdom - implemented accrual accounting and reporting in executive agencies and subsequently adopted accrual accounting and budgeting for the central government France - adopting accrual accounting, but has not yet announced an intention to adopt accrual budgeting Australia - introduced annual accrual reporting, and a few years later adopted accrual budgeting New Zealand - introduced accrual reporting and budgeting simultaneously 3
4 Key conceptual issues Accountability Budgeting Budget execution Accounting Reporting 4
5 Accountability Relationship R Responsibility Trust R =? Answer Evaluation
6 Monitoring and evaluation The main purpose of evaluation is: to assess results against original expectations to learn form experience to verify that anticipated results occurred to determine why it did or did not occur as planned Results? Evaluation establishes accountability for results obtained Information is the currency of accountability
7 What should be evaluated? Private Sector, e.g.: Turnover Profit EPS ROI Liquidity Interest Cover Dividend Cover Gearing There is a bottom line Public Sector: What is our bottom line?
8 Information Requirement Economic Impact Performance Compliance State of Finances Stewardship
9 Where many countries are coming from Vote 26 - Transport Appropriation account for the year ended 31 March 1993 Original Adjustments Saving Estimate Vote 25 Estimate Voted Expenditure (Excess) Main Divisions R'000 R'000 R'000 R'000 R'000 R'000 % 1 Administration ( 210) Civil Aviation (6 799) ( 5)
10 Information one of the problems Economic Impact? Compliance Performance??? State of Finances Stewardship
11 Where countries are coming from Weak information Realities: Cash utilisation is the key measure of performance Focus on inputs and not on results Fragmented and unclear accountabilities and legal frameworks Poor quality and late information Poor compliance with existing legislation Weak financial management Wastefulness & inefficiency, fraud & theft In summary, Poor Accountability
12 Key conceptual issues Accountability Who is accountable for what? How will this be monitored and evaluated? Budgeting Coverage Appropriation law Link to accountability framework Support for and link to cash management Classification system requirements, including GFS, COFOG, IPSAS, management information requirements Level of control, and links to the accounting and reporting system 12
13 Key conceptual issues Budget execution Compliance to appropriation law Control over votes / programs / cost centres / type of expense Risk management coverage Revenue / Expenses / Liabilities / Assets Accounting Information and reporting requirements, including in-year and annual financial statements Accounting standards Standard chart of accounts Good basic accounting disciplines, including control over bank accounts, commitment controls, reconciliations 13
14 Key conceptual issues Reporting Against budget per vote / program / cost centre / objective / funding source / type of expense / recurrent / capital Financial performance Financial position Definition of reporting entity existence of ownership control as a basis for the accountability framework Consolidation Who is in or out and why Information needs Accounting standards Inter-entity transactions 14
15 Overview International experiences Key conceptual issues Accountability Budgeting Budget execution Accounting Reporting A few examples Conclusion 15
16 A framework pursued 16
17 A performance orientation in the budget How much? Quality? When? Cost? Vote structure - Ministries Departments Agencies Outcomes Outputs Programs = Budget Effectiveness REAL Performance Agreements Economy Efficiency Type of expense: Salaries Supplies & admin Capital 17
18 A few examples - 18
19 19
20 20
21 21
22 22
23 23
24 24
25 25
26 26
27 27
28 28
29 29
30 30
31 31
32 32
33 Other improvements to the control, information and audit architectures Established control over the bank account configuration Established monthly reconciliation and reporting procedures, supported by good audit trails Introduced requirement for internal audit, under oversight of an audit committee, for all departments Introduced sanctions for financial misconduct Introduced concept of ownership control into legal framework and requirement to produce annual consolidated financial statements Legal recognition for accounting standards established Accounting Standards Board Introduced requirement for annual reports, reporting on performance Established Minister s responsibility for tabling of annual report and audited financial statements in Parliament Changed the external audit cycle now to be completed 5 months after year-end 33
34 Incentives and enforcement Incentives Spirit of Ubuntu: "I am what I am because of who we all are." Political leadership Let managers manage. Link with public service reform Enforcement Walk the talk..hold managers accountable Sensible and practical legal sanctions 34
35 Conclusions Get the basics right first Be clear on the reporting entity Align the legislative framework, the standards, the processes, the systems and data requirements with reporting needs and capacity Always maintain / protect the fundamentals Stake holder buy in, including Auditor-general Change management Show results 35
36 Questions? 36
Public Financial Management
UNITAR Mustofi Fellowship Hiroshima, Japan 18 22 February 2012! Index! Overview and Objectives! Limitations and Problems! Public Financial Systems! Financial Management System Boundaries! Framework! Government
More informationCosts and Benefits of Accrual Accounting and Budgeting
Bernhard SCHATZ Costs and Benefits of Accrual Accounting and Budgeting Vienna, 28 th of January PEMPAL TCOP/World Bank Accrual Accounting one element of Budget Reform Amendment of the constitution: New
More informationUNCTAD-Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting
UNCTAD-Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting Workshop on practical implementation of IPSAS Tuesday, 31 October 2017 Room XVII, Palais des Nations,
More informationPUBLIC SECTOR ACCOUNTING DEVELOPMENTS. Credibility. Professionalism. AccountAbility
PUBLIC SECTOR ACCOUNTING DEVELOPMENTS Credibility. Professionalism. AccountAbility Session Objectives Legal framework of public sector accounting standards PSASB (K) and ICPAK PSASB s strategic direction
More informationIFMIS BENEFIT REALIZATION
IFMIS BENEFIT REALIZATION ICGFM Conference Washington DC December 2007 Gert van der Linde Senior FM Specialist, World Bank 1 Agenda Let s recap IFMIS What are some of the key expected benefits to be gained
More informationStrengthening Medium Term Budget Frameworks
Strengthening Medium Term Budget Frameworks International Consortium on Governmental Financial Management Washington DC, 6 December, 2016 Taz Chaponda, Fiscal Affairs Department Outline Definitions Medium-Term
More informationTHE ESTIMATES, MINISTRY OF ENERGY SUMMARY $ $ $ $ OPERATING
THE ESTIMATES, 2004-05 1 SUMMARY The Ministry of Energy's mandate includes the creation of an energy conservation culture while ensuring a reliable, sustainable, and diverse supply of power at stable and
More informationPROGRESS IN PUBLIC SECTOR ACCOUNTING AND REPORTING REFORMS IN KAZAKHSTAN
MINISTRY OF FINANCE OF THE REPUBLIC OF KAZAKHSTAN PROGRESS IN PUBLIC SECTOR ACCOUNTING AND REPORTING REFORMS IN KAZAKHSTAN Z. ERNAZAROVA., DEPUTY DIRECTOR OF THE DEPARTMENT FOR ACCOUNTING AND FINANCIAL
More informationB.29[17d] Medium-term planning in government departments: Four-year plans
B.29[17d] Medium-term planning in government departments: Four-year plans Photo acknowledgement: mychillybin.co.nz Phil Armitage B.29[17d] Medium-term planning in government departments: Four-year plans
More informationPublic Financial Management Reform in Greece (General Government Accounting Framework)
Public Financial Management Reform in Greece (General Government Accounting Framework) 21 Sandra Cohen, Athens University of Economics and Business scohen@aueb.gr Reform key objectives Goal: Transparency
More informationAG ISA (NZ) 315 (Revised) Understanding the entity and its environment
AG ISA (NZ) 315 (REVISED) THE AUDITOR-GENERAL S STATEMENT ON IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT Contents Page Introduction
More informationRe: International Public Sector Accounting Standards Board Strategy Consultation
Mr. Andreas Bergmann, Chairman International Public Sector Accounting Standards Board 529 5th Avenue, 6th Floor New York, New York 10017 United States of America Deloitte Touche Tohmatsu Limited 2 New
More informationThe Benefits of Implementing Accrual Accounting in the United Kingdom
The Benefits of Implementing Accrual Accounting in the United Kingdom 11 January 2011 Caroline Mawhood, Chair FEE Public Sector Committee Background to Accrual Accounting Decision to Implement in Central
More informationINTERNAL AUDIT: THE NEGLECTED ELEMENT IN THE GOVERNANCE AND FINANCIAL MANAGEMENT REFORM PROGRAMME: THE CASE OF GHANA
INTERNAL AUDIT: THE NEGLECTED ELEMENT IN THE GOVERNANCE AND FINANCIAL MANAGEMENT REFORM PROGRAMME: THE CASE OF GHANA 1. Introduction Yesterday, we looked at the Challenges to Establishing an Effective
More informationMAINSTREAMING CLIMATE CHANGE INTO PLANNING AND BUDGETING: ENTRY POINTS IN THE BUDGET CYCLE
CLIMATE CHANGE PUBLIC EXPENDITURE AND INSTITUTIONAL REVIEW (CCPER) SOURCEBOOK MAINSTREAMING CLIMATE CHANGE INTO PLANNING AND BUDGETING: ENTRY POINTS IN THE BUDGET CYCLE Shabih Ali Mohib, Program Leader
More informationContents. 3 Definition in Public Finance Act Role of the Portfolio Ministers and the Responsible Minister 9 Vote Issues
Contents 3 Definition in Public Finance Act 1989 4 Role of the Portfolio Ministers and the Responsible Minister 9 Vote Issues 1 Briefing for the Minister Responsible for the Department of Internal Affairs
More informationTransitioning from Cash to Accrual. Presenter: Peter Murphy AFRITAC South, IMF 1 March 2017
Transitioning from Cash to Accrual Presenter: Peter Murphy AFRITAC South, IMF 1 March 2017 Topics of this presentation Accrual Accounting? IPSASs - Cash or accrual? What does Accrual IPSAS implementation
More informationHarmonizing Financial Accounting and Macroeconomic Statistics
Harmonizing Financial Accounting and Macroeconomic Statistics Claudia Dziobek Chief, Real Sector Division, Statistics Department International Monetary Fund Workshop on Public Sector Accounting European
More informationBotswana Accrual Accounting Policy Note and Guide Volume I
Report Number: 62383-BW Botswana Accrual Accounting Policy Note and Guide Volume I August 2011 AFTFM Africa Region Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
More informationTREASURY OUR VISION OUR MISSION OUR CORE VALUES. To be recognised as a modern organisation providing financial services of international standard
OUR VISION To be recognised as a modern organisation providing financial services of international standard OUR MISSION Supporting effective public financial management through the delivery of quality
More informationI N T O S A I. The importance of an independent standard-setting process
I N T O S A I The importance of an independent standard-setting process The importance of an independent standard-setting process A paper written for the INTOSAI Subcommittee on Accounting and Reporting
More informationREFORMS IN PUBLIC FINANCIAL MANAGEMENT IN THE CONTEXT OF GREECE'S ECONOMIC ADJUSTMENT PROGRAMMES
REFORMS IN PUBLIC FINANCIAL MANAGEMENT IN THE CONTEXT OF GREECE'S ECONOMIC ADJUSTMENT PROGRAMMES Hellenic Republic Ministry of Finance General Accounting Office of the State The Economic Adjustment Programmes
More informationPerformance Budgeting (PB) in OECD Countries
Performance Budgeting (PB) in OECD Countries Teresa Curristine, Budgeting and Public Expenditures Division, Public Governance Directorate, OECD 6 th Annual Meeting of Latin American Senior Budget Officials
More informationTax Administration Diagnostic Assessment Tool MODULE 11: ACCOUNTABILITY AND TRANSPARENCY
Tax Administration Diagnostic Assessment Tool MODULE 11: ACCOUNTABILITY AND TRANSPARENCY Desired Outcome of POA 9 The tax administration is : transparent in the conduct of its activities, and accountable
More informationCHAPTER 12 FINANCIAL REPORTING
CHAPTER 12 FINANCIAL REPORTING A. General Principles 1. Objectives of reporting 1 The essential purpose of a financial reporting system is to demonstrate how the government has managed its financial resources
More informationPFMA Introduction CPD Public Sector April 2018
PFMA Introduction CPD Public Sector April 2018 PFMA - INTRODUCTION 2 PFMA - OBJECTIVE Reasons for the ACT: RDP: maximise service delivery Limited resources vs. 'Unlimited' demands Satisfy constitutional
More informationProposal to adopt International Public Sector Accounting Standards (IPSAS) by the Agency
Board of Governors GOV/2007/10 Date: 13 February 2007 Restricted Distribution Original: English For official use only Programme and Budget Committee Proposal to adopt International Public Sector Accounting
More informationDeclaration on Internal Controls
of the Declaration on Internal Controls Paris, 18. 09. 2008 Nataša Prah, Director 1 of the Introduction WHAT IS THE DECLARATION ON INTERNAL CONTROLS? WHO HAS TO PREPARE IT? WHEN IT SHOULD BE PREPARED?
More informationTHEMATIC COMPILATION OF RELEVANT INFORMATION SUBMITTED BY RWANDA ARTICLE 9, PARAGRAPHS 2 AND 3 UNCAC MANAGEMENT OF PUBLIC FINANCES
THEMATIC COMPILATION OF RELEVANT INFORMATION SUBMITTED BY RWANDA RWANDA (SIXTH MEETING) ARTICLE 9, PARAGRAPHS 2 AND 3 UNCAC MANAGEMENT OF PUBLIC FINANCES Measures to promote transparency and accountability
More informationBOSNIA AND HERZEGOVINA
IMF Country Report No. 18/49 February 2018 BOSNIA AND HERZEGOVINA TECHNICAL ASSISTANCE REPORT GOVERNMENT FINANCE STATISTICS This Technical Assistance report on Bosnia and Herzegovina, The Republic of Srpska
More informationDr. T. Russell Robinson Ottawa Canada
THE WORKSHOP IS COFINANCED FROM THE EU FUNDS EUROPEAN SOCIAL FUND OPERATIONAL PROGRAM - HUMAN CAPITAL CONFERENCE ON PERFORMANCE-BASED BUDGETING WARSAW, POLAND NOVEMBER 7-9, 7 2007 PROGRAM-BASED BUDGETING
More informationDr Philip E Dunn FAAI MCMI Chartered MCIPD Cert Ed (Leeds)
Dr Philip E Dunn FAAI MCMI Chartered MCIPD Cert Ed (Leeds) 1 Interpretation of Financial Statements Readers will have noted that the IASB, International Accounting Standards Board has published an IFRS
More informationFinancial report and audited financial statements. Report of the Board of Auditors
General Assembly Official Records Sixty-ninth Session Supplement No. 5C A/69/5/Add.3 United Nations Children s Fund Financial report and audited financial statements for the year ended 31 December 2013
More informationPreliminary Results Announcement. Year ended December 2002
Preliminary Results Announcement Year ended December 2002 Financial Highlights Turnover up 9.8m to 133.5m, a 7.9% increase, 12.4% at constant currency Operating margin on continuing operations up from
More informationSandra KAISER. Austrian Budget Reform
Sandra KAISER Austrian Budget Reform Paris/January 12th, 2015 Contents Overview of the Austrian budget reform - A. Design and Concept - B. Medium Term Fiscal Framework - C. Budget Structure - D. Accrual
More informationIMPROVING BUDGET TRANSPARENCY IN SOUTH AFRICA
IMPROVING BUDGET TRANSPARENCY IN SOUTH AFRICA FISCAL TRANSPARENCY AND ACCOUNTABILITY MEETING - MOSCOW, RUSSIA Presented by: Dr Kay Brown Chief Director, Expenditure Planning 29 May 2014 Presentation outline
More informationPROGRAM BUDGETING Methodology Budgeting for results
PROGRAM BUDGETING Methodology Budgeting for results October 2011 Franc Radman, M.A. Ministry of Finance franc.radman@mf-rs.si 1 Structure of the Presentation A. Methodical base for Program budgeting B.
More informationPerformance Based Budgeting in OECD Countries
Performance Based Budgeting in OECD Countries International Conference on Performance Budgeting Lessons for Poland Warsaw 7-9 November Teresa Curristine, Budgeting and Public Expenditures Division, Public
More informationPUBLIC FINANCIAL PERFORMANCE MANAGEMENT IN SOUTH AFRICA: A CONCEPTUAL APPROACH. Johan Jordaan
PUBLIC FINANCIAL PERFORMANCE MANAGEMENT IN SOUTH AFRICA: A CONCEPTUAL APPROACH by Johan Jordaan Submitted in partial fulfilment of the requirements for the degree PHILOSOPHIAE DOCTOR in Public Affairs
More informationINTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE
INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE 1. Subject Alignment of IPSASs and Public Sector Statistical Reporting Guidance 1.1 The overall objective of this project
More informationPUBLIC FINANCE MANAGEMENT CONFERENCE FOR AFRICA
PUBLIC FINANCE MANAGEMENT CONFERENCE FOR AFRICA Public Financial Management and Accountability Reforms - The Kenyan Scenario PRIDE INN PARADISE HOTEL, MOMBASA, 19 th -21 st APRIL 2017 Uphold. Public. Interest
More informationPUBLIC FINANCE MANAGEMENT WORKSHOP
PUBLIC FINANCE MANAGEMENT WORKSHOP NYANZA BRANCH IFMIS AN ENABLER OR INHIBITOR 28 th 29 th August 2018 Presented by : Hillary Onami, Manager, Devolution & Branches Public Policy and Research, ICPAK @ Nyakoe
More informationReforms to Budget Formulation in Uganda
Reforms to Budget Formulation in Uganda The challenges of building and maintaining and a credible process Tim Williamson tim@praxisdevelopment.net 1 Why Uganda? Successful Reforms to Public Expenditure
More informationPublic Finance Management Workshop
Public Finance Management Workshop INTEGRATED FINANCIAL MANAGEMENT INFORMATION SYSTEM (IFMIS CPA Andrew Rori City Blue Hotel & Suites, Mombasa 9th 10th August, 2018 Uphold. Public. Interest Session Outline
More informationPaper 3 Measuring Performance in Public Financial Management
Paper 3 Measuring Performance in Public Financial Management Key Issues 1. Effective financial management of public resources is essential to achieve the objectives of development programmes. It also promotes
More informationOECD Budget Review of Portugal: Main Findings
OECD Budget Review of Portugal: Main Findings 7 th Annual Meeting of Latin American Senior Budget Officials Santiago, Chile. January 26-29, 2009 Teresa Curristine Budgeting and Public Expenditures Division
More informationIntroduction Financial record keeping Income statements The balance sheet Further adjustments to the income statement 47
CONTENTS Introduction 1 01 Financial record keeping 3 Introduction 3 Single-entry bookkeeping 4 Double-entry bookkeeping 6 Balancing accounts 10 The trial balance 13 Daybooks and ledgers 15 Modern double-entry
More informationKey accountability challenges for local government an audit perspective
1 Key accountability challenges for local government an audit perspective John Doyle Auditor-General, Victoria Today s presentation 2 What are the possibilities of the role of the legislative auditor in
More informationFair value taxation. Professor Pieter van der Zwan
Fair value taxation Professor Pieter van der Zwan Traditional income tax base Bases for imposing income tax: Cash basis Accrual basis Unrealised basis Financial accounting Historical purpose Stewardship
More informationProposals for the New Zealand Accounting Standards Framework
Proposals for the New Zealand Accounting Standards Framework Incorporating the Draft Tier Strategy and Presented to the Minister of Commerce in accordance with Section 34A of the Financial Reporting Act
More informationThe following is enclosed for release to the market in relation to MVN s H1 FY19 results:
28 February 2019 Client Market Services NZX Limited Level1, NZX Centre 11 Cable Street WELLINGTON 6011 Dear Sir/Madam Methven Limited (MVN) HY19 Results The following is enclosed for release to the market
More informationMANAGING EFFICIENTLY. Public sector financial management tools that improve the performance of the public sector. 36 PUTTING IT TOGETHER
5 MANAGING EFFICIENTLY Public sector financial management tools that improve the performance of the public sector. 36 PUTTING IT TOGETHER Introduction This chapter outlines some specific mechanisms for
More information6/10/2017 NOTE ORIENTATION. Unit Standard Apply the principles of budgeting within a municipality
NOTE DIPLOMA IN PUBLIC ACCOUNTABILITY MODULE 13 208 191 / Compliance and control 1 (4 UNIT STANDARDS) US 116345 Dr Len Mortimer Participants are advised to have access to: The respective learner guide,
More informationEPSAS Working Group To be held in Luxembourg on 7-8 May 2018, starting at 09:30. Item 6 of the Agenda
EUROPEAN COMMISSION EUROSTAT Directorate C: National accounts, prices and key indicators Task Force EPSAS EPSAS WG 18/04 Luxembourg, 10 April 2018 EPSAS Working Group To be held in Luxembourg on 7-8 May
More informationAdministrative Classification of the Budget: Practical Experience of Reform in Tajikistan
Administrative Classification of the Budget: Practical Experience of Reform in Tajikistan Michael Parry, Principal, Michael Parry Consulting LLP George Gridilian, Managing Partner, ECORYS-Tajikistan LLC
More informationCHART OF ACCOUNTS IN THE PUBLIC SECTOR OF LITHUANIA
Ingrida Muckutė Director of the Reporting, Audit, Property Valuation and Insolvency Policy Department CHART OF ACCOUNTS IN THE PUBLIC SECTOR OF LITHUANIA Accounting System Reform - Transition from modified
More informationNew Zealand Vanuatu. Joint Commitment for Development
New Zealand Vanuatu Joint Commitment for Development 2 The Joint Commitment for Development between the Governments of New Zealand and Vanuatu establishes a shared vision for achieving long-term development
More informationFASAB-OECD Survey. Agency-Level Financial Reporting. Wendy Payne, Executive Director
FASAB-OECD Survey Agency-Level Financial Reporting Wendy Payne, Executive Director Disclaimer Views expressed are those of the speaker. The Board expresses its views in official publications. Overview
More informationBudget Classification and Chart of Accounts of Ukraine: Perspectives for Their Reform State Treasury of Ukraine
Budget Classification and Chart of Accounts of Ukraine: Perspectives for Their Reform State Treasury of Ukraine 09.11.2010 1 Current Budget Classification The Budget Classification has the following components:
More informationExternal and internal auditing in Estonia
External and internal auditing in Estonia Gert Schultz Auditor at Financial Audit Department National Audit Office of Estonia 7.02.2013 Themes: 1. Overall framework of auditing in Estonia 2. Public sector
More informationSample Test: Fundamentals of Finance
Sample Test: Fundamentals of Finance Assessment is for sample purposes to test the knowledge of fundamental of finance for Credit challenge participants and shouldn t be used for any other purpose apart
More informationQIC Properties Pty Ltd ABN Annual financial statements and directors' report for the year ended 30 June 2013
ABN 18 075 744 151 Annual financial statements and directors' report for the year ended 30 June Directors' report 30 June Directors' report The directors present their report together with the financial
More informationCURRENT DEVELOPMENTS ON THE IASB & IPSAS BOARD CONCEPTUAL FRAMEWORKS Presentation of financial statements IAS 1 & IPSAS1.
CURRENT DEVELOPMENTS ON THE IASB & IPSAS BOARD CONCEPTUAL FRAMEWORKS Presentation of financial statements IAS 1 & IPSAS1 Presentation by: CPA Donald Omengo Manager, Audit, KPMG Kenya Monday, 4 th September
More informationIFAC Member Compliance Program Dashboard Report February 2017
IFAC Member Compliance Program Dashboard Rept February 2017 F me infmation on IFAC Member Compliance Program Dashboard Repts and the legends used to describe the status of adoption of international standards,
More informationProject Modernising the Budgeting and Accounting System at the Federal Ministry of Finance in Germany
Project Modernising the Budgeting and Accounting System at the Federal Ministry of Finance in Germany - Status and Progress - Annual OECD Public Sector Accruals Symposium 8./9 March 2010 1 MHR Project
More informationUNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION EXECUTIVE BOARD. Hundred and seventy-fifth session
PARIS, 28 July 2006 English & French only UNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION EXECUTIVE BOARD Hundred and seventy-fifth session Item 33 of the provisional agenda FINANCIAL
More informationKnow the Numbers! Finance for the HR Professional 5/17/2017
Know the Numbers! Finance for the HR Professional Beverly Holmes Associate Professor of Business Administration and Management Alaska Pacific University 1 Learn the purpose of financial statements Understand
More informationThe Presidency Department of Performance Monitoring and Evaluation
The Presidency Department of Performance Monitoring and Evaluation Briefing to the Standing Committee on Appropriations on the Strategic Plan and Annual Performance Plan for the 2012/13 financial year
More informationGert van der Linde. Lead FM Specialist World Bank, Africa Region. ICGFM Conference, 1-5 June 2015 PFM, Foundation for Public Governance
Gert van der Linde Lead FM Specialist World Bank, Africa Region ICGFM Conference, 1-5 June 2015 PFM, Foundation for Public Governance 1 Issues Affecting Cash Flow Management - Negative Impacts and Potential
More informationPOLICY: FRAUD PREVENTION. October 2017
POLICY: October 2017 CONTENTS 1. PURPOSE P3 2. SCOPE P3 3. LEGISLATION AND CORPORATE GOVERNANCE REQUIREMENTS REFERENCE 4. POLICY STATEMENT AND INTERNAL STANDARDS P3 P4 4.1 Background P4 4.2 Actions constituting
More informationSample Text: Fundamentals of Finance
Sample Text: Fundamentals of Finance Assessment is for sample purposes to test the knowledge of fundamental of finance for Credit challenge participants and shouldn t be used for any other purpose apart
More informationMarch 17, Organised by CCBMP of ICAI
March 17, 2012 1 Organised by CCBMP of ICAI Disclaimer s and Disclosures All trademarks are property of their respective owner s. The presentation is to highlight the risk, precautions to be taken and
More informationLima, May Prepared by Marc Robinson
Lima, May 2014 Prepared by Marc Robinson 1 Methodology to estimate the budget of each program Estimation during the budget preparation process Not about accounting and financial reporting Which is about
More informationIceland s means to restrict compensation
Iceland s means to restrict compensation Ministry of Finance Agusta H. Gustafsdottir 9. December 2010 Context 2008: Collapse of the financial system Radical alterations of the Icelandic economy Collaboration
More informationRwanda. Rwanda is a low-income country with a gross national income (GNI) of USD 490
00 Rwanda INTRODUCTION Rwanda is a low-income country with a gross national income (GNI) of USD 490 per capita in 2009 (WDI, 2011). It has a population of approximately 10 million with 77% of the population
More informationExposure Draft 53 First time Adoption of Accrual Basis International Public Sector Accounting Standards (IPSASs)
Tel +44 (0)20 7694 8871 8 Salisbury Square Fax +44 (0)20 7694 8429 London EC4Y 8BB katja.vanderkuij-groenberg.@kpmgifrg.com United Kingdom Ms Stephanie Fox Technical Director International Public Sector
More informationEUROPEAN UNION ACCOUNTING RULE 16 PRESENTATION OF BUDGET INFORMATION IN ANNUAL ACCOUNTS
EUROPEAN UNION ACCOUNTING RULE 16 PRESENTATION OF BUDGET INFORMATION Page 2 of 9 I N D E X 1. Introduction... 3 1.1 Reasons for issuing this accounting rule... 3 1.2 Applicability... 3 1.3 Disclosure...
More informationPUBLIC SECTOR AUDITING
PUBLIC SECTOR AUDITING A. Institutional Framework for Public Sector Auditing 21. Effective scrutiny by the legislature through comprehensive, competent external audit underpinned by international standards
More informationPUNTLAND STATE OF SOMALIA LOCAL GOVERNMENT FINANCE POLICY. FINAL (Revised, March, 2016)
PUNTLAND STATE OF SOMALIA LOCAL GOVERNMENT FINANCE POLICY FINAL (Revised, March, 2016) 1 TABLE OF CONTENTS List of Abbreviations... 4 Executive Summary... 5 1. Introduction... 6 1.1 Weaknesses of Puntland
More informationDr. Alexis Kythreotis European University Cyprus
Dr. Alexis Kythreotis European University Cyprus Assistant professor in Financial Accounting a.kythreotis@euc.ac.cy Tel: +35722713265 http://euc.ac.cy/easyconsole.cfm/id/181/dep/161/c_id/490 Adoption of
More informationManagement Accounting in your School
Management Accounting in your School www.nasbm.co.uk As the School Business Manager, you will likely be producing the management accounts and reports, or you will be leading on the development work either
More informationACCOUNTING AND AUDITING SUPPLEMENT NO
Chapter 1 ACCOUNTING AND AUDITING SUPPLEMENT NO. 4 2015 INTRODUCTION This update includes the more significant accounting and auditing developments from October 2015 through December 2015. Included in
More informationBudget Accounting and Financial Reporting in Montenegro
Budget Accounting and Financial Reporting in Montenegro Marija Popović Podgorica 10-12 November 2014 Basis for Budget Accounting and Financial Reporting Budget accounting in Montenegro is done on a modified
More informationTertiary Education Commission
Financial Review briefing to the Education and Science Committee 2008/09 Financial Year Tertiary Education Commission 1 17 February 2010 2 Assistance to the Committee The Education and Science Committee
More informationManagement Compensation Framework
Reference Job #6 Manager, Highway Design & Traffic Engineering MINISTRY Transportation MANAGEMENT ROLE: 2 DIVISION: Highway Operations ROLE PROFILE A BRANCH: Engineering Services, South Coast Region POSITION
More informationInstitutional Strengthening for Aviation Regulation
Technical Assistance Report Project Number: 43429 Regional capacity development technical assistance (R-CDTA) December 2010 Institutional Strengthening for Aviation Regulation The views expressed herein
More informationThemed Audits Assurance on Financial Planning. Summary Report for Schools
Internal Audit Report Themed Audits Assurance on Financial Planning Summary Report for Schools 2016/17 Issued to: Copied to Simon Newland Assistant Director (Education Provision and Access) Schools Via
More informationIssues of Implementation of Accruals-Based Accounting in Public Sector (The Case of Ukraine)
Issues of Implementation of Accruals-Based Accounting in Public Sector (The Case of Ukraine) Tetiana Iefymenko, President of the State Educational and Scientific Institution Academy of Financial Management,
More informationMTEF s: Concept and Lessons
MTEF s: Concept and Lessons Bill Dorotinsky International Monetary Fund September 10, 2007 Outline Budget Formulation in context MTEF Concept Technical objectives Process View Sequenced decision-making
More informationTopic 1: The International Accounting Environment and Financial Reporting
Topic 1: The International Accounting Environment and Financial Reporting USERS OF FINANCIAL STATEMENTS - Internal Users involves Management Accounting communicating to those within entity looking for
More informationReport of the Auditor General of Alberta
Report of the Auditor General of Alberta JULY 2014 Mr. Matt Jeneroux, MLA Chair Standing Committee on Legislative Offices I am honoured to send my Report of the Auditor General of Alberta July 2014 to
More informationPublic Financial Management (PFMx) Module
Public Financial Management (PFMx) Module 4 The Annual Budget Preparation and Approval This training material is the property of the International Monetary Fund (IMF) and is intended for use in IMF Fiscal
More informationKEF-2016: Reforms for Inclusive Growth November 3 4, 2016
KEF-2016: Reforms for Inclusive Growth November 4, 2016 SOEs reform: Public finance perspective Brian Olden, Deputy Chief of the Public Financial Management Division, IMF 2016 KEF http://kef.by/ Belarus
More informationCurrent Status of Accounting Basis in the Government of Nepal
Current Status of Accounting Basis in the Government of Nepal Sundar Shrestha Deputy Director of Studies NASC Presentation Outline Introduction Purpose and Research questions Research Methods Assumptions
More informationAssessment of the suitability of the International Public Sector Accounting Standards (IPSASs) for the Member States
European Commission / EUROSTAT Public consultation Assessment of the suitability of the International Public Sector Accounting Standards (IPSASs) for the Member States CIPFA s response 11 May 2012 CIPFA,
More informationIPSAS WORKSHOP. The benefits, Challenges and way forward of IFMIS in Kenya. Golf Hotel - Kakamega, 18 th -19 th July Uphold. Public.
IPSAS WORKSHOP The benefits, Challenges and way forward of IFMIS in Kenya Golf Hotel - Kakamega, 18 th -19 th July 2017 Uphold. Public. Interest Outline of Presentation Introduction to PFMS - definitions
More informationIntroduction. Accounting Standards for the Public Sector
Introduction Accounting Standards for the Public Sector The International Public Sector Accounting Standards Board (the IPSASB) of the International Federation of Accountants (IFAC) develops accounting
More informationi. The VAT element payable to the VAT Service (2 marks) ii. The Withholding tax payable to the Internal Revenue Service (2 marks)
QUESTION 1 a. Dencedep Ltd, a local consultancy firm submitted a claim of GHC30,150,000 (VAT inclusive) to your Ministry for payment. The claim was in respect of services rendered to your Ministry. As
More informationClassification of Expenditure and Preparation of Budgets. By: Errol Gardner For MOE Bursar Training
Classification of Expenditure and Preparation of Budgets By: Errol Gardner For MOE Bursar Training Objectives At the end of this presentation participants should be able to: To examine the structure of
More informationINTEGRATED SAFEGUARDS DATA SHEET
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized INTEGRATED SAFEGUARDS DATA SHEET IDENTIFICATION / CONCEPT STAGE Date ISDS Prepared/Updated:
More information