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Regional: Strengthening Financial Management in Asia and the Pacific, Phase 2

Sovereign (Public) Project | 52113-001 Status: Active

The knowledge and support technical assistance (TA) will support the enhancement of financial management capacity in Asia and the Pacific, with a focus on: (i) improving the quality of financial audits by private and public audit professionals; (ii) supporting the adoption of International Public Sector Accounting Standards (IPSAS); and (iii) developing the financial management and audit function capacity of staff in project executing and implementing agencies (EAs/IAs) and supreme audit institutions (SAIs) in ADB developing member countries (DMCs).

Project Details

Project Officer
Maharramova, Sevil PPFD Request for information
Country
  • Regional
Sector
  • Public sector management
 
Project Name Strengthening Financial Management in Asia and the Pacific, Phase 2
Project Number 52113-001
Country Regional
Armenia
Cambodia
Georgia
Nepal
Pakistan
Philippines
Samoa
Uzbekistan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9661-REG: Strengthening Financial Management in Asia and the Pacific, Phase 2
Technical Assistance Special Fund US$ 1.10 million
TA 9661-REG: Strengthening Financial Management in Asia and the Pacific, Phase 2 (Supplementary)
Technical Assistance Special Fund US$ 100,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Sector / Subsector

Public sector management / Public administration

Gender Equity and Mainstreaming Some gender elements
Description The knowledge and support technical assistance (TA) will support the enhancement of financial management capacity in Asia and the Pacific, with a focus on: (i) improving the quality of financial audits by private and public audit professionals; (ii) supporting the adoption of International Public Sector Accounting Standards (IPSAS); and (iii) developing the financial management and audit function capacity of staff in project executing and implementing agencies (EAs/IAs) and supreme audit institutions (SAIs) in ADB developing member countries (DMCs).
Project Rationale and Linkage to Country/Regional Strategy
Impact Strengthened governance and improved institutional capacity and standards in DMCs' financial management.
Project Outcome
Description of Outcome Enhanced public and private audit and accounting capacity for improved management of public resources.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Private Auditor Assurance Programs implemented.

Uzbekistan IPSAS roadmap developed.

Pakistan Audit Quality Management Framework (AQMF) implemented.

Training of EA/IA/SAI staff in financial management conducted.

Status of Implementation Progress (Outputs, Activities, and Issues)

Output 1 Private Auditor Assurance Program Implemented

The Institute of Chartered Accountants in England and Wales (ICAEW) has been engaged to implement a private auditor quality assurance program in Cambodia, Georgia, Nepal and Samoa. ICAEW's project inception report was approved in December 2019.

Consultant Terms of Reference for audit quality assurance program implementation in Armenia and Philippines are being reviewed and finalized.

Output 2 Uzbekistan IPSAS Roadmap Implemented.

AARC Consultancy was engaged to develop IPSAS Roadmap for the Government of the Republic of Uzbekistan. The 10-year Roadmap on harmonization of public accounting in accordance with International Public Sector Accounting (IPSAS) was approved by the Ministry of Finance in August 2019.

AARC Consultancy supported the government in the initial steps of Roadmap implementation by developing templates, checklists and providing advice on standards harmonization. In January 2020 the order was issued to establish a working group on IPSAS Roadmap implementation.

Activities under Output 2 are successfully completed.

Output 3 Pakistan Audit Quality Management Framework Implemented

Inception meeting was held on 21 January 2020 at the office of the Auditor General of Pakistan (AGP). The consultants, Ernst and Young (EY), made a presentation on the proposed strategy and key deliverables expected during implementation. AG office requested value added support from EY, to strengthen systems in AG office. The consultants began interviews and assessments from 22 January 2020.

Tentative date of the inception report is 7 March 2020 and second milestone of post training evaluations planned for 10 August 2020.

Output 4 Training of EA/IA/SAI staff in FM conducted

1. Financial Management Training held in Tashkent, Uzbekistan on 26 March 2019 with 27 participants

2. Financial Management Workshop held in Bishkek, Kyrgyz on 3 April 2019 with 49 participants

3. Financial Management Workshop held in Nadi, Fiji on 19-20 August 2019 with 34 participants from Pacific DMC's

4. Financial Management Workshop held in Dhaka, Bangladesh on 5-6 November 2019 with 124 participants

5. Financial Management Workshop held in Ulaanbaatar, Mongolia on 20-21 November 2019 with 33 participants

6. Financial Management Training held in Jakarta, Indonesia on 14 November 2019 with 43 participants

7. Sponsored 12 SAI representatives from Pacific DMCs to attend a workshop organized by the International Federation of Accountants (IFAC) titled Developing Accountancy Capacity in Fragile and Conflict States held in Kuala Lumpur, Malaysia on 10-12 December 2019

8. EA/IA training conducted in Goa, India on 3-4 February 2020 for representatives form South Asia DMC's.

Geographical Location Armenia - Nation-wide; Cambodia - Nation-wide; Georgia - Nation-wide; Nepal - Nation-wide; Pakistan - Nation-wide; Philippines - Nation-wide; Samoa - Nation-wide; Uzbekistan - Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Maharramova, Sevil
Responsible ADB Department PPFD
Responsible ADB Division PFFM
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 13 Nov 2018
Fact Finding -
MRM -
Approval 29 Nov 2018
Last Review Mission -
Last PDS Update 29 Jan 2020

TA 9661-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
29 Nov 2018 - 29 Nov 2018 31 Dec 2021 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,200,000.00 0.00 0.00 0.00 0.00 0.00 1,200,000.00 29 Nov 2018 266,875.29

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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Requests for information may also be directed to the InfoUnit.

Tenders

Tender Title Type Status Posting Date Deadline
Strengthening Financial Management in Asia and the Pacific, Phase 2 Firm - Consulting Closed 24 May 2019 24 Jun 2019
Strengthening Financial Management in Asia and the Pacific, Phase 2 Firm - Consulting Closed 17 Apr 2019 09 May 2019

Contracts Awarded

Contract Title Approval Number Contract Date Contractor Contractor Address Executing Agency Contract Description Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Capacity Development Technical Assistance 9661 05 Nov 2019 EY Ford Rhodes (PAKISTAN) 6th Floor,601,Progressive Plaza, Beaumon Karachi 75530, Pakistan CMS# 007334; EYFR Asian Development Bank Consulting Services 188,950.00
Capacity Development Technical Assistance 9661 20 Aug 2019 INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND ... (UNITED KINGDOM) CHARTERED ACCOUNTANTS HALL,MOORGATE PLAC LONDON,UNITED KINGDOM EC2R 6EA Asian Development Bank Consulting Services 351,036.00
Capacity Development Technical Assistance 9661 15 Jul 2019 AARC Ltd. (Irish Republic) 41 Hughes Road East, Walkinstown Walkins Leinster Dublin 12 / 31 Mespil Road, Bal Dublin 4, Ireland Asian Development Bank Consulting Services 115,972.00

Procurement Plan

None currently available.