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 Name||Strengthening Financial Management in Asia and the Pacific, Phase 2|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Gender Equity and Mainstreaming
Governance and capacity development
|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.|
|Description of Outcome||Enhanced public and private audit and accounting capacity for improved management of public resources.|
|Progress Toward Outcome|
|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|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Responsible ADB Officer||Maharramova, Sevil|
|Responsible ADB Department||PPFD|
|Responsible ADB Division||PFFM|
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
|Concept Clearance||13 Nov 2018|
|Approval||29 Nov 2018|
|Last Review Mission||-|
|Last PDS Update||29 Jan 2020|
|Approval||Signing Date||Effectivity Date||Closing|
|29 Nov 2018||-||29 Nov 2018||31 Dec 2021||-||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Strengthening Financial Management in Asia and the Pacific - Phase 2: Technical Assistance Report||Technical Assistance Reports||Dec 2018|
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.
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
|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|
|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||—|
None currently available.