Publication: Country Financial Accountability Assessments and Country Procurement Assessment Reports : How Effective Are World Bank Fiduciary Diagnostics?
Date
2008-04
ISSN
Published
2008-04
Author(s)
World Bank
Abstract
World Bank analysis of a country's
public financial management system is typically undertaken
both to help the client country strengthen its system and to
safeguard funds that the Bank provides against misuse, and
is an important component of fiduciary diagnostics. The
Bank's instruments for such analysis have generally
been relevant; the resulting diagnostics have been of
satisfactory quality and have fostered reform agendas in
client countries. Country Financial Accountability
Assessments (CFAAs) have contributed substantially, and
Country Procurement Assessments Reports (CPARs) modestly, to
development outcomes in a sample of 10 countries examined.
Client consultation and donor collaboration in the
preparation of CFAAs and CPARs have been increasing, but
internal Bank coordination among the three sets of units
dealing with public financial management has lagged,
resulting in fragmented action plans for clients. Both
instruments have had a more limited effect on managing risks
to Bank assistance, owing to the lack of a sound analytical
framework for assessing fiduciary risks and of associated
guidance on how identified risks should be reflected in the
design of country assistance strategies. The evaluation
recommends: (i) ensuring that fiduciary instruments use an
integrated risk analytical framework that includes a common
approach to defining fiduciary risk; (ii) issuing revised
guidelines along with implementing an integrated training
program for relevant staff; and (iii) supporting the client
in preparing a single integrated, prioritized, costed, and
monitorable set of actions within an agreed framework for
Public Financial Management (PFM) reform.
Citation
“World Bank. 2008. Country Financial Accountability Assessments and Country Procurement Assessment Reports : How Effective Are World Bank Fiduciary Diagnostics?. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/f1bd59d5-cd27-52ef-9922-a7dd03fdb88d License: CC BY 3.0 IGO.”