By Richard Allen
This learn compares and contrasts some of the tools and techniques utilized by those enterprises to evaluate and reform public expenditure administration platforms in constructing and transitional nations. It reveals weaknesses in those tools, together with overlap and duplication of their technical scope and assurance, in addition to inadequate or inconsistent assurance in a few parts. additionally, nations usually are subjected to a number of checks and a number of missions through the donors, that may impose heavy transactions expenditures on govt companies. additionally, the tools have a number of objectives―fiduciary , surveillance, and means building―which are divergent and most likely conflicting.
The ebook recommends a brand new strategy that's kingdom led, multidonor, medium time period in orientation, concerned about larger administration of the price range, and supplemented by means of donor relief cash, as a key mechanism to minimize poverty and achieve different coverage targets. It presents concrete and functional strategies for attaining 4 vital objectives:
• Streamlining the assurance of tools to prevent pointless duplication
• bettering collaboration among donors, governments, and different stakeholders
• supplying a extra entire, actual, and well timed review of fiduciary danger
• enhancing the last word improvement impression of evaluate and reform paintings.
This booklet may be of curiosity to improvement practitioners within the zone of public finance, finance ministers, coverage analysts and scholars and students of foreign development.
'Assessing and Reforming Public monetary administration: a brand new method' was once written as a part of the paintings of the general public Expenditure and fiscal responsibility software, a partnership of the realm financial institution, the eu fee; the overseas financial Fund; the Strategic Partnership with Africa; and several other bilateral donor organizations, together with these of France, Norway, Switzerland, and the uk.
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Extra info for Assessing and Reforming Public Financial Management: A New Approach
These recommendations often also influence lending and other donor support, affecting decisions on the type and amount of assistance and sometimes resulting in specific projects or technical assistance to support improvements in public financial management. For example, EC audits of the use of EC program aid provide useful information about the quality of underlying public expenditure management systems and procedures for control, procurement, and the like—though, for reasons noted above, the European Commission is moving to a new approach that sharpens its assessment work by combining compliance testing (a modified form of audit) and performance measurement.
And so on. Also conspicuous for their absence from the mapping are the four pillars of governance – accountability, transparency, rule of law and participation. As in the case of corruption, however, this absence is only apparent. The four pillars of governance should be seen as guiding principles for the public expenditure management assessment, providing a prism through which 34 Assessing and Reforming Public Financial Management to scrutinize each part of the system. At each stage of the expenditure management cycle, one can go a long way toward building governance considerations into the “technical” assessment by asking the question of the extent to which the systems and procedures are transparent, and whether they provide for genuine accountability, predictability through application of the rule of law, and appropriate participation.
But with the evolution of EC support for structural adjustment, the purpose of and approach to audits have also changed. 7 Since 1992 EC audits have been carried out in some 32 countries. For General and Sector Import Support Operations these audits focused on the legality and regularity of expenditures. For targeted budget support the audits were adjusted to recognize that counterpart funding became subject to national budget rules and procedures. Hence a more comprehensive approach to audits was developed that focused on an assessment of the legal framework and procedures for budget execution—including procurement and financial accountability and control—verified through sample financial audits.