Publication:
Sri Lanka : Country Financial Accountability Assessment

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-07-25T15:46:40Z
dc.date.available2013-07-25T15:46:40Z
dc.date.issued2003-06-30
dc.description.abstractThe framework for public financial accountability in Sri Lanka is founded in the principles of governance associated with the model inherited from the British, widely accepted as appropriate for the country. The primary accountability institutions, and organizations for financial management, control, audit and legislative scrutiny have, however, not evolved in line with the changes in the more advanced democracies of a similar background. This lapse has reduced the effectiveness of the system of public financial accountability in Sri Lanka, resulting in less than adequate assurance, that public funds are used for the purposes intended with due consideration to economy and efficiency. Financial accountability at the sub-national level is less well developed than at the center. The reasons for this are similar to those concerning the central Government, but more acute and pronounced. Public enterprises are characterized by excessive staff; weak management; inefficiencies; heavy losses; dependency on budget transfers; and delayed publication of audited accounts, thus, further eroding public financial accountability. Discussions with stakeholders on reforms, centered around the urgent need to improve public financial accountability, showing five priority areas of concern: 1) Parliamentary control of the public purse has become ineffective, which can be restored by strengthening the oversight function provided by the public accounts and public enterprises committees; 2) the accountability of the executive is too focused on 'spending to budget', rather than on 'managing for results', therefore, introducing, on a progressive basis, a performance based culture with incentives focused on achievement of outputs and outcomes, and, holding government officials accountable for meeting objectives and performance standards should be considered; 3) need for strengthening the public audit function; 4) removing obstacles, and re-visiting the Establishment Code could prod good governance practices; and, 5) addressing greater specificity on financial accounting, reporting, auditing, and capacity building at sub-national levels.en
dc.identifierhttp://documents.worldbank.org/curated/en/2003/06/3100541/sri-lanka-country-financial-accountability-assessment
dc.identifier.doi10.1596/14597
dc.identifier.urihttps://hdl.handle.net/10986/14597
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectFINANCIAL ADMINISTRATION
dc.subjectPUBLIC FINANCE
dc.subjectLOCAL GOVERNMENT PARTICIPATION
dc.subjectACCOUNTING & REPORTING
dc.subjectPERFORMANCE INDICATORS
dc.subjectGOVERNANCE APPROACH
dc.subjectCAPACITY BUILDING
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectPUBLIC ENTERPRISES
dc.subjectBUDGET CONTROL
dc.subjectFINANCIAL MANAGEMENT
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectLEGISLATIVE COUNCIL
dc.subjectINFORMATION CONTENT
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING FRAMEWORK
dc.subjectACCOUNTING POLICIES
dc.subjectACCOUNTING PRACTICES
dc.subjectACCOUNTING STANDARDS
dc.subjectACCRUAL ACCOUNTING
dc.subjectADB
dc.subjectADMINISTRATIVE PROCESSES
dc.subjectASSET MANAGEMENT
dc.subjectAUDITING
dc.subjectAUTHORITY
dc.subjectBLOCK GRANTS
dc.subjectBUDGET DEFICIT
dc.subjectBUREAUCRACY
dc.subjectCENTRAL GOVERNMENT
dc.subjectCONSTITUTION
dc.subjectCOUNCILS
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDECISION MAKING
dc.subjectDEVOLUTION
dc.subjectDISCLOSURE
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICIES
dc.subjectELECTRICITY
dc.subjectEXPENDITURE
dc.subjectFINANCIAL ACCOUNTABILITY
dc.subjectFINANCIAL ACCOUNTING
dc.subjectFINANCIAL CONTROL
dc.subjectFINANCIAL DISCIPLINE
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL REGULATIONS
dc.subjectFINANCIAL REPORTING
dc.subjectFISCAL
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL MANAGEMENT
dc.subjectFIXED ASSET
dc.subjectGOVERNMENT AGENCIES
dc.subjectGOVERNMENT FINANCE
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT LEVEL
dc.subjectGOVERNMENT OWNED COMPANIES
dc.subjectGOVERNMENT PRODUCTIVITY
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT SERVICES
dc.subjectGOVERNMENT SPENDING
dc.subjectHUMAN RESOURCES
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSTITUTIONAL DEVELOPMENT
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectINSTITUTIONAL REFORMS
dc.subjectINTERNAL CONTROLS
dc.subjectLACK OF CLARITY
dc.subjectLACK OF TRANSPARENCY
dc.subjectLAWS
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL PROVISIONS
dc.subjectLEGISLATION
dc.subjectLEGISLATORS
dc.subjectLEGISLATURE
dc.subjectLEVELS OF GOVERNMENT
dc.subjectLOCAL AUTHORITIES
dc.subjectLOCAL AUTHORITY
dc.subjectLOCAL GOVERNMENT
dc.subjectLOCAL GOVERNMENT REVENUE
dc.subjectLOCAL GOVERNMENTS
dc.subjectMEMBERS OF PARLIAMENT
dc.subjectMIGRATION
dc.subjectMINISTRY OF FINANCE
dc.subjectNATIONAL GOVERNMENTS
dc.subjectNATIONAL LEVEL
dc.subjectPOLITICAL INTERFERENCE
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATIZATION
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE MANAGEMENT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC RESOURCES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR ACCOUNTING
dc.subjectPUBLIC SECTOR REFORM
dc.subjectREVENUE COLLECTION
dc.subjectREVENUE MANAGEMENT
dc.subjectRIGHT OF APPEAL
dc.subjectSTATE OWNED ENTERPRISES
dc.subjectSUBSIDIARY
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.titleSri Lanka : Country Financial Accountability Assessmenten
dspace.entity.typePublication
okr.date.doiregistration2025-05-07T10:53:42.890115Z
okr.doctypeEconomic & Sector Work::Country Financial Accountability Assessment
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2003/06/3100541/sri-lanka-country-financial-accountability-assessment
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid987291468759617277
okr.identifier.externaldocumentum000012009_20040406133857
okr.identifier.internaldocumentum3100541
okr.identifier.report27419
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/04/06/000012009_20040406133857/Rendered/PDF/274190corr.pdfen
okr.region.administrativeSouth Asia
okr.region.countrySri Lanka
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.topicBanks and Banking Reform
okr.topicUrban Development::Urban Economics
okr.topicPublic and Municipal Finance
okr.topicGovernance::National Governance
okr.topicPublic Sector Economics and Finance
okr.topicFinance and Financial Sector Development
okr.unitFinancial Management Unit (SARFM)
okr.volume1 of 1
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