Regional: Strengthening Financial Management in Asia and the Pacific

Sovereign Project | 48191-001 Status: Active

Summary

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Project Name Strengthening Financial Management in Asia and the Pacific
Project Number 48191-001
Country Regional
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8740-REG: Strengthening Financial Management in Asia and the Pacific
Technical Assistance Special Fund US$ 730,000.00
TA 8740-REG: Strengthening Financial Management in Asia and the Pacific (Supplementary)
Technical Assistance Special Fund US$ 26,226.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Public sector management - Public expenditure and fiscal management

Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design A fact-finding mission was held on 13-14 August 2014 in Hanoi, Vietnam to discuss the objectives of Output 1 with CAPA which included: (i) identifying suitable PAOs for pilot implementation; (ii) agreement on the roles and responsibilities of ADB and CAPA; (iii) confirmation of the concept and scope of the component; and (iv) agreement on timetable and course of actions. A fact-finding mission for the other components was deemed not necessary.
During Project Implementation

The TA will produce three outputs: (i) piloting quality assurance systems for PAOs, (ii) developing working papers on DMC financial management systems, and (iii) developing an e-Learning module on preparing project financial statements using the cash-basis IPSAS.

For Output 1, a study of the PAOs existing quality assurance systems will be conducted in collaboration with CAPA . Given CAPA's role in the region and its membership (comprised of PAOs), it is strategically positioned to coordinate TA activities. A good practice roadmap will be developed which will serve as a starting point to further develop PAO specific roads maps to guide improvements in quality assurance. The roadmap will apply the International Auditing and Assurance Standards Board's (IAASB) audit framework and will be guided by IFAC's Statement of Membership Obligations (SMO) 1 . CAPA will coordinate with the participating PAOs, and will monitor and measure results on an annual basis. The pilot implementation will cover four countries, namely Cambodia, Myanmar, Nepal, and Samoa. National workshops will be held to promote the quality assurance roadmap and gain commitment from the PAOs.

Output 2 will produce working papers on the financial management systems of Bangladesh, Fiji, Indonesia, Myanmar, Nepal, Pakistan, Sri Lanka, and Viet Nam . The TA will use the recently produced Operational Knowledge Working Paper on the Funds Flow, Accounting, and Audit arrangements in India as a guide and will conduct interviews and consultations with ADB's Control Officers and Financial Management Officers in Resident Missions (where available) and relevant government representatives. The working papers will be disseminated as a tool in conducting financial management assessments during project preparation. The initial set of working papers will be published on ADB's website and will be scaled up to cover other DMCs in the region in future TA projects.

Output 3 will produce an e-Learning module that provides the requirements of the IPSAS Cash Basis Standards. The TA will leverage existing products produced by international consulting/audit firms or international institutes (e.g., the Chartered Institute of Public Finance & Accountancy) given their experience and credibility in the market, and incorporate ADB's requirements on financial reporting and auditing of projects. The module will use an open-source software application that can be maintained by ADB to eliminate issues on proprietary rights and maintenance. The TA will use experienced consultants in designing the content and layout of the module and the webpage under the supervision of the consulting firm. This module will produce certifications at the completion of the course, track the student's learning progression over time, and will be hosted on ADB's website accessible by all existing and potential executing and implementing agencies, other interested DMC staff including SAIs, and private auditors. A workshop will be held to launch and promote the e-Learning module.

The TA will be dependent on the cooperation and commitment of CAPA, the PAOs, and relevant DMC staff. ADB will closely coordinate with these institutions during implementation and will monitor activities of consultants to reduce the risk and ensure completion and delivery of outputs.

ADB will be the executing agency, with OSFM acting as focal point and providing overall TA oversight and administration. OSFM will work closely with CAPA and the Resident Missions who in turn will be coordinating and guiding the consultants.

Business Opportunities

Consulting Services The TA will require a total of 37.5 person-months of intermittent consulting inputs from international and national consultants. Individual consultants have been engaged for all positions assigned to Output 2 to select the best combination of thematic experts in the shortest time. A consulting firm with experience in auditing and has substantial knowledge and experience in the 4 selected DMCs has been engaged to deliver Output 1. A consulting firm that has technical expertise in accounting and software development has been engaged to deliver Output 3.

Responsible Staff

Responsible ADB Officer Abbas Kizilbash
Responsible ADB Department Operations Services and Financial Management Department
Responsible ADB Division Financial Management Unit, OFSMD
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines

Timetable

Concept Clearance 03 Jul 2014
Fact Finding 13 Aug 2014 to 14 Aug 2014
MRM -
Approval -
Last Review Mission -
Last PDS Update 06 Nov 2015

TA 8740-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
20 Oct 2014 - 20 Oct 2014 31 Dec 2017 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
756,226.00 0.00 0.00 0.00 0.00 0.00 756,226.00 20 Oct 2014 94,482.26

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Related Publications

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