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

Sovereign Project | 52113-001

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
    Nartayev, Akmal
    Procurement, Portfolio and Financial Management Department
    Request for information
  • Country/Economy
    Regional
  • Sector
    • Public sector management
Project Name Strengthening Financial Management in Asia and the Pacific, Phase 2
Project Number 52113-001
Country / Economy Regional
Armenia
Cambodia
Georgia
Nepal
Pakistan
Philippines
Samoa
Uzbekistan
Project Status Closed
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 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 private auditor quality assurance program in Cambodia, Georgia, Nepal, and Samoa. ICAEW's project inception report was approved in December 2019. The progress report covering January to May 2020 has been submitted and a conference call was conducted on 5 June to discuss the activities and the impact brought about by delays due to COVID-19 pandemic, and next steps.

No-objection confirmations have been obtained from the Government of Armenia's Ministry of Finance and Government of the Philippines' Department of Finance. Consultant Terms of Reference for audit quality assurance program implementation in Armenia and Philippines are being 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.

Inception report was submitted on 18 June 2020. The consultants were deployed for fieldwork for implementation phase. Gap analysis will be completed tentatively by October 2020 with the roadmap developed by December 2020 and trainings in Q1 of 2021. Due to delays from COVID-19 impacts during fieldwork for phase 1, the second milestone of post training evaluations has been revised to April 2021.

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

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.SARD EA/IA training to be conducted in Goa, India on 3-4 February 2020

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 Nartayev, Akmal
Responsible ADB Department Procurement, Portfolio and Financial Management Department
Responsible ADB Division Public Financial Management Division (PFFM)
Executing Agencies
Asian Development Bank
Timetable
Concept Clearance 13 Nov 2018
Fact Finding -
MRM -
Approval 29 Nov 2018
Last Review Mission -
Last PDS Update 24 Aug 2020

TA 9661-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
29 Nov 2018 - 29 Nov 2018 31 Dec 2021 30 Jun 2023 19 Oct 2023
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 07 Nov 2023 1,147,217.67

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.


Related Publications

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.

Tenders

Tender Title Type Status Posting Date Deadline
Strengthening Financial Management in Asia and the Pacific, Phase 2 Firm - Consulting Closed
Strengthening Financial Management in Asia and the Pacific, Phase 2 Firm - Consulting Closed
Strengthening Financial Management in Asia and the Pacific, Phase 2 Firm - Consulting Closed

Contracts Awarded

Contract Title Approval Number Contract Date Contractor | Address Executing Agency Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Capacity Development Technical Assistance Technical Assistance 9661 12 Nov 2021 Institute of Chartered Accountants in England and Wales (U.K.) | Chartered Accountants' Hall, Moorgate Place London, EC2R 6EA United Kingdom Asian Development Bank 292,460.00
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 115,972.00
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 351,036.00
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 188,950.00

Procurement Plan

None currently available.