FM Sector Strategy

World Bank Financial Management Sector

FM

September 2010

Work of the FM Sector

• Provides assessment, design, implementation support services

• Supports development of sustainable FM capacity

• Use of country systems – the default option

Project Level

• Provides information on country fiduciary environment & risks

• Supports building FM capacity

• Delivers diagnostics, policy & technical advice, technical & project assistance

• Facilitates FM learning & access to expertise

• Maintains & builds partnerships

• Supports standard setting & implementation

• Builds regional practices

• Promotes FM harmonization in improving aid effectiveness

Global Level

Country Level

Bank Policies, FM Manual, & Reference Materials

180 professional staff - 70% based in country offices - working at many levels

Opportunities and Challenges

FM Sector Environme

nt

Portfolio Growth

Diverse Demands

Fraud & Corruption

Risks

IL Reform

Access to Informatio

n Policy

Use of Country Systems

FM Capacity

International strategic partnerships

Delivering quality FM services

in Bank-financed operations

Building country capacity in

FM

Providing reasonable assurance on use of funds

Developing FM capacityof partner countries

Sound FM capacity in All partner countries

A world free of poverty

FM Sector Strategy

Promoting global accounting, auditing, & related standards

FM Sector Board, Committees, Working Groups, Regions, & OPCFM

Bank Vision

FM Vision

Objectives

Strategic

Priorities

Implementation Support

Staffing and resources to deliver results

FM

Vision

Strong and capable FM systems and human resources to manage all public funds and account for the use of those funds to citizens and donors

Partner for development results, fully integrated into preparation &

implementation support for Bank-financed projects & capacity development efforts

COUNTRIES

FM SECTOR

Strategic Objectives

Developing FM capacity of partner countries

Providing reasonable

FM assurance on use of

funds

Strategic Priorities

Delivering quality FM services in Bank-financed operations

Building country capacity in FM

Promoting global accounting, auditing, & related standards

Delivering Quality FM services in Bank-Financed Operations

FY11-13 Strategy Focus Areas

Enhancing quality of FM assurance services•Increased integration with task teams•Greater collaboration with Bank Sectors/Networks/CMUs

Integrating the FM risk-based approach with Bank Operational Risk Assessment Framework for IL

Delivering differentiated services according to country circumstances, risks, and needs•Providing customized solutions & support

Strengthening fiduciary practices in areas critical to good governance and anticorruption

Building Country Capacity in FMFY11-13 Strategy Focus Areas

Deepening implementation of

reforms and building sustainable country

FM capacityDiagnostic studies, PFM improvement programs, implementation support

& knowledge sharing

Helping countries implement accounting,

auditing, & related standards

Developing professional accountancy bodies and

standard-setting institutions

Building country FM systems capacity &

PFM professionalization

Developing systems for results-based lending &

decentralized FM arrangements

Implementation support for ROSC A&A

recommendations and country reform

programs

Promoting Global Accounting, Auditing, and Related Standards

FY11-13 Strategy Focus Areas

Engaging in global

partnerships on high-quality standards

Sharing information

among donors and partners

Supporting regional &

international professional

networks

Strengthening & increasing access to international

standards

Encouraging developing

nations’ inputs to setting global

standards

Promoting adoption &

implementation of international

standards

Governance and AnticorruptionSupport governments to strengthen their institutional arrangements for preventing and detecting corruption

Support key government agencies responsible for management and control of corruption risks

Conduct analytic & advisory

work

Strengthen internal controls & internal audit

Improve financial reporting & audit

Support IFMIS

developments Enhance

legislative scrutiny

Implementation of the Strategy

Quality assura

nce

Collaboration and partners

hips

Staffing to

deliver results

Knowledge,

learning, outreach

Committees & Working Groups

OPCFM

FM Sector

Monitoring Results

International strategic partnerships

Delivering quality FM services

in Bank-financed operations

Building country capacity in

FM

Providing reasonable assurance on use of funds

Developing FM capacityof partner countries

Sound FM capacity in All partner countries

A world free of poverty

FM Sector Strategy

Promoting global accounting, auditing, & related standards

FM Sector Board, Committees, Working Groups, Regions, & OPCFM

Bank Vision

FM Vision

Objectives

Strategic

Priorities

Implementation Support

Staffing and resources to deliver resultsPartnering for Development Results

Moving Forward…