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Strengthening Financial Scrutiny
Les KojimaSenior Financial Management SpecialistThe World Bank
53rd Commonwealth Parliamentary ConferenceNew Delhi
September 2007
Public Financial Management
Budget Formulation
Budget Execution
External Scrutiny and Audit
Accounting and Reporting
PEFA Partners International Monetary Fund European Commission UK Department for International Development French Ministry of Foreign Affairs Norwegian Ministry of Foreign Affairs Swiss State Secretariat for Economic Affairs Strategic Partnership with Africa World Bank
Donor Country Assistance Strategy
Donor Country Assistance Strategy
Monitoring Results
------------------PFM
Performance Measurement
Framework
Monitoring Results
------------------PFM
Performance Measurement
Framework
PFM Strengthened Approach
Government/DonorPolicy Dialogue
Government/DonorPolicy Dialogue
Government PFM Reform Strategy, Action Plan and
Results
Government PFM Reform Strategy, Action Plan and
Results
Donors’ Technical
Assistance & Financing
Donors’ Technical
Assistance & Financing
PEFA Performance Indicators
Budget Formulation
Budget Execution
External Scrutinyand Audit
Accounting and Reporting
1. Aggregate expenditure out-turn2. Composition of expenditure out-turn3. Aggregate revenue out-turn4. Payment arrears 5. Classification of the budget
11. Orderliness in annual budget process12. Multi-year perspective
13. Transparency of taxpayer obligations and liabilities
14. Effectiveness of taxpayer registration and assessment
15. Effectiveness of tax collection16. Predictability of funds for commitment17. Recording/management of cash, debt and
guarantees18. Effectiveness of payroll controls19. Competition, value for money and controls
in procurement20. Effectiveness of internal controls21. Effectiveness of internal audit
22. Accounts reconciliation
23. Resources received by service delivery units
24. Quality and timeliness of in-year budget reports
25. Quality and timeliness of annual financial statements
26. External audit
27. Legislative scrutiny of budget
28. Legislative scrutiny of external audit reports
6. Comprehensiveness of information7. Unreported government operations8. Transparency of inter-governmental fiscal relations9. Oversight of aggregate fiscal risk10. Public access to key fiscal information
Cross-cutting Indicators
PI-27: Legislative scrutiny of the annual budget law Dimensions to be assessed:
Scope of the legislature’s scrutiny
Extent to which the legislature’s procedures are well-established and respected
Adequacy of time for the legislature to respond
Rules for in-year budget amendments without ex-ante approval by the legislature
PI-28: Legislative scrutiny of external audit reports Dimensions to be assessed:
Timeliness of audit reports by the legislature
Extent of hearings on key findings
Extent of implementation by the executive of recommended actions
