Publication: Slovakia : Country Financial Accountability Assessment
Loading...
Published
2000-08
ISSN
Date
2013-07-01
Author(s)
Editor(s)
Abstract
Slovak financial accountability systems are strongly influenced by the Communist past but must meet the needs of a European future. Fortunately, Slovakia has the benefit of laws and institutions pre-dating communism, easing the transition from one system to the other. Past influences are still strong: centralization, strong controls, and a uniform system of accounting based on a chart of accounts. In the future, Slovakia will need improved public financial management, fiscal decentralization, a more competitive economy, an effective capital market, and harmonization of standards with those of the European Union. A good start has been made on many fronts. But there is still tension between the culture of control and a more flexible policy based on standards, quality performance, accountability, and competition. Among the specific, required financial management actions, the report recommends ratifying the European Convention on money laundering, establishing a public procurement office and procurement monitoring procedures, completing the legislative framework for internal and external financial control, strengthening the Supreme Audit Office and extending its audit mandate to cover public funds in general, and publishing consolidated financial management data relating to general government.
Link to Data Set
Citation
“World Bank. 2000. Slovakia : Country Financial Accountability Assessment. © World Bank. http://hdl.handle.net/10986/14327 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Georgia : Country Financial Accountability Assessment(Washington, DC, 2003-09-26)A number of in-depth studies were conducted between the time of the preparation of the first draft CFAA report in May 2002 and the final mission in February 2003. These included a PER, CPAR and an IMF Report on the Observance of Standards and Codes (ROSC) mission. Each of these missions identified a number of serious weaknesses and made recommendations to address them. Some of these weaknesses had been identified in the CFAA report and others represented new findings. These new findings and their associated recommendations have been reflected in the final CFAA report, sometimes by explicit inclusion, other times by reference. As a result, this final report has a strong emphasis on the internal control framework and fiduciary risks and presents specific short- and medium-term recommendations to mitigate them. In conducting its mission, the team noted that the availability and reliability of financial information beyond routine budget utilization data is severely limited, precluding analysis in a number of areas. Improving the quality of reliable, complete and accurate financial information is essential for sound management decision-making. This report makes four priority and an additional twenty-one recommendations. They are designed to strengthen the legal foundation for internal financial control, construct a modem internal control framework, and develop the human capacity to administer them successfully. Internal controls must be the priority of the Government if it is to reduce its fiduciary risk. The four priority most areas of risk for the Government of Georgia include: implement a sound legal foundation for effective financial controls, build the internal audit function, strengthen the external audit function, and build staff capacities in financial management and auditing.Publication Albania : Country Financial Accountability Assessment(Washington, DC, 2002-05-14)Despite Albania's significant progress in establishing a legal and institutional base, and its strong commitment to reform - placing the country in a good position to develop a sound fiduciary infrastructure - there are however, several issues that need to be addressed: weak institutional capacity; weak internal controls, including cash management, and internal audit functions; and, absence of solid bases for internal audit in the public sector. In the area of private sector accounting, and auditing, issues need to address: differentiation between the banks, insurance companies, listed and non-listed companies, and other entities, for determining accounting standards; in addition to weak audit capacity, and experience in implementing international standards in auditing. Recommendations include the enactment of the Law on Public Sector Internal Audit; strengthened internal controls, including in the Treasury - specifically, the Treasury cash management function - by establishing daily reconciliation of district treasury payment requests, with the reimbursement by the Bank of Albania to Agent Banks, as well as reconciliation between revenue collections, transferred by the agent banks, with the taxpayer-filled payment forms. Further recommendations include strengthened internal audit capacity, by establishing the methodology for conducting internal public sector audits, and providing training; capacity building to the Ministry of Finance's Accounting Department; strengthened internal audit capacity within the Social Insurance Institute, introducing computerized pension and accounting systems in districts; and, strengthened systems at the Parliamentary Commission on Economic, Finance and Privatization (EFP).Publication Vietnam : Country Financial Accountability Assessment(Washington, DC, 2001-10-15)Vietnam is in the process of reforming its economy, adopting market economy mechanisms, and integrating into the world economy. Like a number of countries in the process of transition to a market economy, Vietnam faces challenges in improving its laws and regulations, strengthening its institutions, and buiding capacity to improve financial accountability. While it is difficult to attain quickly all the requirements of a market economy, it is possible to focus initially on a critical subset of these requirements and take a series of steps that are compatible with the Vietnamese environment. Such a gradual approach, currently being taken by the government, should lead to tangible achievements in financial accountability over time. Experience has shown that stand-alone measures to strengthen financial accountability are not effective. These need to be complemented by parallel measures that form part of a comprehensive reform adddressing issues such as human resources, compensation structure, performance measures, and legal reform. The government should adopt a multi-pronged strategy that encompasses reforming public administration, strengthening the oversight capacity of the legislature, introducing an integrated financial management system, and building capacity and strengthening institutions responsible for ensuring accountability. In the public sector, technological changes should follow the process of administrative reform and the streamlining of processes and proceduresPublication India : Synthesis Study of Public Financial Management and Accountability in Urban Local Bodies(Washington, DC, 2007)This study assesses the current state of Public Financial Management and Accountability (PFMA) systems in Indian urban local bodies. It identifies, analyzes, and documents good practices, focusing on their existing context, success factors, and replicability. It is important to mention that urban governance in India is a state subject and there are vast differences in the levels of reform that have achieved in different states. For the purpose of comparison, this study has developed good practice benchmarks in each PFMA area and used those to compare practices across Urban Local body (ULB)s. The study analyzes linkages between the legislative, budgeting, implementation, reporting, and oversight process in urban local bodies. Benchmarks and indicators have been developed for each strategic area. Analysis of policy, practice, and progress in each strategic area has also been conducted. This study synthesizes existing literature on PFMA in urban local bodies, identifies key PFMA areas where focused attention was required, and suggests ways forward. The main objectives are: 1) To describe the current PFMA environment in urban local bodies in India and identify replicable good practices; 2) To use the Public Expenditure and Financial Accountability (PEFA) benchmarks in developing good practice in each PFMA activity and to develop indicators for assessing PFMA in Indian urban local bodies; 3) To identify challenges and suggest priorities for improving the PFMA environment in Indian urban local bodies so as to feed into Jawaharlal Nehru National Urban Renewal Mission (JNNURM). This study does not focus on the financial performance or on quality of expenditure in terms of specific aspects of efficiency or effectiveness of spending by urban local bodies. It does not cover intergovernmental relations either in any level of detail except to the extent that such relations impact PFMA performance. It is important to mention that this study does not attempt to develop a scoring system for indicators and therefore does not rate relative performance among urban local bodies. It does however suggest as a key recommendation that states could adopt a scoring system or a "PFMA Report Card" for the urban local bodies as a means of comparison of PFMA performance to build a demand for better governed ULBs.Publication Russian Federation : Country Financial Accountability Assessment(Washington, DC, 2003-09-16)This CFAA concentrates, by design, on federal-level public sector financial management in the Russian Federation. Its results feed into the fiduciary discussion presented in the new Russian Federation Country Assistance Strategy (CAS), and into the Core Integrative Fiduciary Assessment (CIFA). In budget management the CFAA recommends 1) strengthening the strategy phase of budget preparation to link macroeconomic resource constraints and sectoral and program targets; 2) adopting a uniform, simplified budget coding structure; 3) adopting a more participatory approach to budget planning and formulation; 4) introducing accounting principles by entities with extra-budgetary funds and preparing reports that are compatible with Treasury accounts and fiscal reporting; 5) preparing a program of institutional development for the MOF and applying modem information technology; and 6) amending the chart of accounts (COA) to fully reflect the budget classification. The development and implementation of a full-function Treasury system will take several years and is not expected to become fully operational before 2004/05. In the interim, the CFAA recommends immediate implementation of an improved system of expenditure monitoring, extension of Treasury control of expenditure commitments to all items of the economic expenditure classification, and replacement of weekly cash finding limits by monthly funding of established expenditure commitments. In accounting and financial reporting, some recommendations are to 0 review of existing budget classifications and coding structures and design of a revised structure and COA that conform with the IMF GFS classification; and to integrate the two existing coding systems. To improve internal controls and internal auditing, the report recommends regarding the internal audit as an important management tool, shifting to a new model, based on service orientation and performance/risk assessment, internal audit functions becoming independent from other organizational and functional departments, staff reporting directly to the head of the organization, regulating the entity by an audit charter, and audit functions be carried out by multi-disciplinary teams. As for external audits, the CFAA strongly supports the Chambers' program of institutional and methodological improvements, in particular its preparation of a long- term plan to assess public institutions' performance (value for money) in the use of public funds. Finally, the CFAA finds that the World Bank is adequately discharging its financial management fiduciary responsibilities with respect to its lending operations. The CFAA risk assessment concludes that the current ring-fencing approach to project implementation arrangements should be maintained, recognizing that--based on the effective operationalization of the reforms being introduced in public financial accountability--the present arrangements could in due course be subject to revision.
Users also downloaded
Showing related downloaded files
Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.Publication Digital Africa(Washington, DC: World Bank, 2023-03-13)All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.