World Bank2013-09-052013-09-052004-05-30https://hdl.handle.net/10986/15687The Country Assistance Strategy for India places emphasis on the need for modernizing public financial management, and accountability systems, and, undertaking such diagnostic work as necessary to help build Government's capacity for better public sector management, and external scrutiny. It calls for financial accountability assessments to be carried out in all States where programmatic adjustment loans are being prepared, supporting reforms associated with fiscal, and fiduciary risks management. Of India's 14 major States, Orissa has the second lowest, per capita income, and a growth rate of 3 percent against the national average of 5-6 percent per annum, while statistics also show its revenue, and fiscal deficits increased significantly over the years. The Government of Orissa is developing a robust reform program, reforms which on the fiscal side, are fully consistent with recommendations for strengthening financial management, and public accountability, as proposed in this State Financial Accountability Assessment (SFAA) Report. This SFAA is designed to ascertain and help mitigate the extent to which public firms in Orissa State, are exposed to fiduciary risks, and it further points to the need for capacity building, in almost every significant aspect of public financial accountability. It is reported that while the legal/regulatory/institutional frameworks for internal control, and internal audit compares favorably with the rest of India, it does less so with international best practice, and, although accounting and financial reporting rules comply with well-established national requirements, it does not with International Public Sector Accounting Standards (IPSAS) for cash based accounting, and financial reporting. Recommendations suggest to encourage the enlargement of the role of the State Accountant General - AG - (Audit) in following up cases of previous Audit Reports which the Committees may not like to pursue for detailed examination; to discuss the most recent reports of the Controller and Auditor General (CAG) as a matter of priority; to include in the annual confidential reports of the departmental officers, an assessment of the quality of response to the audit reports, and recommendations of the Committees; and, civil society should be sensitized, and involved in the accountability process, to achieve transparency.en-USCC BY 3.0 IGOACCOUNTACCOUNTABILITYACCOUNTABILITY MECHANISMSACCOUNTANTSACCOUNTINGACCOUNTING RECORDSACCOUNTING STANDARDSACCOUNTING SYSTEMSACCOUNTSANTI-CORRUPTIONAPPROPRIATIONSASSET MANAGEMENTAUDIT COMMITTEESAUDIT REPORTSAUDITED FINANCIAL STATEMENTSAUDITINGAUDITORSAUDITSAUTHORITYAUTONOMYBILLSBUDGET ESTIMATESBUDGET PRESENTATIONBUDGETARY PROCESSBUDGETINGBUREAUCRACYBUSINESS PLANSCASH MANAGEMENTCENTRAL GOVERNMENTCITIZENSCIVIL SERVICECONSTITUTIONCORPORATE GOVERNANCECORRUPTIONDEBTDEBT MANAGEMENTDEBT RELIEFDECENTRALIZATIONDECISION MAKINGDECISION-MAKINGDECISION-MAKING PROCESSESDEMOCRATIC GOVERNANCEDEMOCRATIC SOCIETIESDEPOSITSDEVOLUTIONDISCLOSUREDISTRICTSELECTED REPRESENTATIVESEXPENDITUREEXPENDITURE MANAGEMENTEXPENDITURESFINANCIAL ACCOUNTABILITYFINANCIAL CONTROLFINANCIAL DISCIPLINEFINANCIAL INFORMATIONFINANCIAL MANAGEMENTFINANCIAL REPORTINGFINANCIAL RESOURCESFISCALFISCAL CRISISFISCAL DEFICITFISCAL DISCIPLINEFISCAL YEARGOOD GOVERNANCEGOVERNMENT SERVICESINSTITUTIONAL FRAMEWORKINTERNAL AUDITLACK OF TRANSPARENCYLACK OF TRANSPARENCY AND ACCOUNTABILITYLAWSLEGAL FRAMEWORKLEGISLATIVE COMMITTEESLEGISLATIVE OVERSIGHTLEGISLATURELEVELS OF GOVERNMENTLOCAL BODIESLOCAL GOVERNMENTLOCAL GOVERNMENT SERVICESMANAGEMENT INFORMATION SYSTEMSMINISTERSPAYROLLPENALTIESPENSIONSPROCUREMENTPRODUCTIVITYPUBLIC ACCOUNTABILITYPUBLIC AGENCIESPUBLIC DISCLOSUREPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC FINANCESPUBLIC FUNDSPUBLIC OFFICIALSPUBLIC POLICYPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR ACCOUNTINGPUBLIC SECTOR MANAGEMENTPUBLIC SERVANTSREGULATORY FRAMEWORKRESERVE BANK OF INDIARISK MANAGEMENTSECRETSSTATE GOVERNMENTSTATE OWNED ENTERPRISESTAXTAX ASSESSMENTTAX COLLECTIONTAX REVENUETRANSPARENCYUSER CHARGES STATE FINANCEPUBLIC SECTOR MANAGEMENTFINANCIAL ADMINISTRATIONBUDGET EXECUTIONEXPENDITURE ANALYSISRESOURCE ALLOCATION PROCESSESLEGAL & REGULATORY FRAMEWORKLEGISLATIVE REFORMLAW ENFORCEMENTFINANCIAL MANAGEMENT SYSTEMSINTERNAL AUDITSTATE-OWNED ENTERPRISESEXTERNAL AUDITORSSTRATEGIC COORDINATION MECHANISMSBUDGET IMPLEMENTATIONFINANCIAL REPORTING STANDARDSFISCAL TRANSPARENCYGOVERNMENT ACCOUNTINGAUDITINGINSTITUTIONAL FRAMEWORKRISK ASSESSMENTRISK MANAGEMENTINFORMATION DISCLOSUREINFORMATION DISSEMINATIONWorld Bank10.1596/15687