Publications

	Table of Contents
p. 89 of 203 BACK | NEXT Foreword 1. Introduction to the Guidelines 2. User Instructions 3. Preparing and Appraising Investment Project 4. Financial Management of Executing Agencies 5. Reporting and Auditing 5.1. Financial Reporting and Auditing Overview 5.2. Accounting Standards and Policies 5.3. Financial Reporting 5.3.1. Introduction 5.3.2. Content and Timing of Financial Reporting 5.3.3. Accounting Statements and Financial Reports 5.3.4. Interim Financial Statements and the Project Management Report 5.3.5. Audited Project Financial Statements 5.3.6. Annual Financial Statements for a Non-Revenue-Earning Project 5.3.7. Annual Financial Statements for Revenue-Earning Projects and EAs 5.3.8. Supplementary Financial Statements 5.3.9. Designing Financial Reports for Revenue-Earning Projects 5.3.10. Designing Financial Reports for Non-Revenue-Earning Projects 5.3.11. Examples of Model Financial Statements 5.4. Auditing Standards and Auditor Engagement 5.5. Reviewing Financial Reports 5.6. Reviewing Auditors' Reports 6. Financial Institutions 7. Knowledge Management

Financial Management and Analysis of Projects : 5. Reporting and Auditing : 5.3. Financial Reporting

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5.3.5. Audited Project Financial Statements

5.3.5.1. Audited annual project financial statements should be provided to ADB to fulfill the fiduciary requirements of the borrower, cofinancier/ donor(s), and ADB. These financial statements may be classified into two broad categories:

• Annual financial statements in respect of a non-revenue-earning project only that may also include information on the performance and status of the EA where this agency has no other financial performance commitments to ADB under a loan agreement; and
• Annual financial statements in respect of a revenue-earning project and of the project EA where the latter is an autonomous or semi-autonomous revenue-earning entity with responsibility for implementing the project, usually to provide an addition to its revenue-earning capacity.

Back 5.3.4. Interim Financial Statements and the Project Management Report	Next 5.3.6. Annual Financial Statements for a Non-Revenue-Earning Project