Regional Conference on E-Learning Modules for Improving ADB Project Financial Statements and Project Cost Estimates | Asian Development Bank

Regional Conference on E-Learning Modules for Improving ADB Project Financial Statements and Project Cost Estimates

Event | 26 - 27 April 2017 ADB Headquarters, Manila, Philippines

Description

The Regional Conference on e-Learning Modules for Improving ADB Project Financial Statements and Project Cost Estimates, to be held on 26-27 April 2017 in Manila, Philippines, is a forum for representatives from executing and implementing agencies, delegates from ministries, and ADB staff from resident missions and HQ to learn about the knowledge products and be acquainted with regional developments in public sector transition to accrual accounting and innovations in public financial management.

Background

ADB is a strong advocate of good governance in promoting sustainable development and enhancing economic efficiency and productivity. As such, ADB’s governance policy and its Second Governance and Anticorruption Action Plan emphasize improving the implementation of governance and anticorruption policies in sectors and subsectors where ADB is active. Moreover, in its Strategy 2030 Framework, ADB underscores its role as a promoter of structural and sector reforms for the furtherance of good governance.

As part of its greater objective of fostering good governance in its loan and grant projects, the ADB requires the preparation of project financial statements in accordance with international accounting standards . High quality project financial reporting ensures that the proceeds of any loan (including grants) made, guaranteed, or participated in by ADB are used only for the purposes intended. ADB has chosen to frame its financial reporting requirements using international accounting standards since these have been developed by an independent standard-setting body using a transparent process through consultation with expert stakeholders.

ADB also requires that project cost estimates be robust, well-structured, and closely approximate the probable costs of constructing or implementing a project. This ensures that projects are implemented with due consideration for economy and efficiency. Robust project cost estimates entail that systems and policies are in place to guide the estimation process.

ADB developed e-learning modules to provide guidance on its requirements on project financial reporting and project cost estimates. It partnered with internationally recognized institutions, such as the Chartered Institute of Public Finance and Accountancy, for the creation of technology-based solutions to facilitate transfer of knowledge and promote innovation.

Objectives

  • Improve the quality of ADB project financial statements;
  • Enhance the capacity of executing and implementing agencies, ADB staff, and consultants in project cost estimation;
  • Provide an opportunity for sharing experiences and lessons on project financial management issues; and
  • Support advancement of technical knowledge by keeping abreast of developments and innovation in public financial management.

Participants

Representatives from executing and implementing agencies, including delegates from key ministries and agencies involved in project implementation.

Resource speakers

  • Ms. Joana Sales, Head of Learning, Chartered Institute of Public Finance and Accountancy
  • Mr. Steven Cain, Technical Manager, Financial Reporting and Auditing Standards, Chartered Institute of Public Finance and Accountancy
  • Mr. Neil Wallace, Assistant Controller, ADB
  • Mr. Srinivasan Janardanam, Principal Financial Management Specialist, ADB
  • Mr. Abbas Kizilbash, Senior Financial Management Specialist, ADB
  • Ms. Sherazade Shafiq, Financial Management Specialist, ADB

How to register

This event is by invitation only.

Costs

ADB will cover travel and accommodation expenses of limited number of representatives from executing and implementing agencies, including delegates from key ministries.

Event organizer

Aman TRANA (Ms)
Advisor, OSFMD and Head, Financial Management Unit