World Bank2013-07-232013-07-232002-06-30https://hdl.handle.net/10986/14504This Country Financial Accountability Assessment (CFAA) is also a "fiduciary" assessment, given it examines Brazil's Public Financial Management system, to form a judgment on the risk to Bank, and country funds within the Brazilian budget, and the level of accountability and transparency concerning such spending. Moreover, this CFAA will feed into the Bank's lending program, in particular a second Fiscal Reform and Structural Adjustment Loans in FY03. Partly reflecting the lack of a Public Expenditure Review, this CFAA also focuses on upstream budget development issues, including linkages with the government planning systems, as well as downstream budget execution issues. The Brazilian Government appears strongly committed to improving its public financial management, in particular, two major initiatives have been recently undertaken, which significantly impacts on public financial management: a) the Multi-Annual Plan for 2000-2003 adopted a new approach, aimed at improving resource allocation through a program-based approach covering all budget expenditures, involving the setting of program objectives, and measuring performance; and, b) the Law on Fiscal Responsibility, which appears likely to significantly impact on reinforcing commitments to fiscal discipline at the federal government level, and enforcing greater fiscal discipline on sub-national government. Nevertheless, the budget system is fragmented, and complex, hampering resource allocation in line with stated priorities, and, its execution does not reflect program priorities. Notwithstanding needed improvements, the overall conclusion of this assessment is that the Brazilian public financial management system, provides reliable information, adequate systems exist to manage funds at the national level, and, there is a high level of fiscal transparency, both supporting an adjustment lending program.en-USCC BY 3.0 IGOPUBLIC FINANCEFINANCIAL MANAGEMENTRISK MANAGEMENTBANK LENDING STRATEGYFISCAL REFORMSSTRUCTURAL ADJUSTMENT PROGRAMSPUBLIC EXPENDITURESBUDGET ANALYSISBUDGET CONTROLBUDGET IMPLEMENTATIONBUDGET LAW & LEGISLATIONANNUAL BUDGET REVIEWSALLOCATION OF RESOURCESPROGRAM IMPLEMENTATIONPERFORMANCE INDICATORSGOVERNMENT COMMITMENTSFISCAL MANAGEMENT ACCOUNTACCOUNTABILITYACCOUNTANTSACCOUNTINGACCOUNTING PRACTICESACCOUNTING PRINCIPLESACCOUNTING STANDARDSACCOUNTSADJUSTMENT LENDINGADMINISTRATIONADMINISTRATIVE REFORMAGGREGATE FISCAL DISCIPLINEALLOCATION OF RESOURCESAPPROPRIATIONSAUDIT REPORTSAUDITINGAUDITING STANDARDSAUDITSAUTHORITYAUTHORIZATIONAUTONOMYBUDGET APPROPRIATIONSBUDGET CLASSIFICATIONBUDGET DEFICITSBUDGET ESTIMATESBUDGET EXECUTIONBUDGET EXPENDITURESBUDGET IMPLEMENTATIONBUDGET MONITORINGBUDGET PROCESSBUDGET REVENUESBUDGET SURPLUSBUDGET SYSTEMBUDGETARY FUNDSBUDGETARY PROCESSBUDGETARY PROCESSESBUDGETARY RESOURCESBUDGETINGCAPITAL EXPENDITURESCASH FLOWSCASH MANAGEMENTCASH PAYMENTSCENTRAL AGENCIESCENTRAL GOVERNMENTCIVIL SERVICECONSOLIDATED FINANCIAL STATEMENTSCONSTITUTIONCORRUPTIONCORRUPTION DIAGNOSTICSDEBT RELIEFDEBT SERVICINGDECREEDIVISION OF POWERSECONOMIC GROWTHEXECUTIONFEDERAL GOVERNMENTFEDERALISMFINANCIAL ACCOUNTABILITYFINANCIAL ADMINISTRATIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL PERFORMANCEFINANCIAL PROGRAMMINGFINANCIAL RESULTSFINANCIAL TRANSACTIONSFISCALFISCAL BALANCEFISCAL CONTROLFISCAL CONTROLSFISCAL DISCIPLINEFISCAL FEDERALISMFISCAL MANAGEMENTFISCAL PERFORMANCEFISCAL REFORMFISCAL REFORMSFISCAL RESPONSIBILITYFISCAL SITUATIONFISCAL STRATEGIESFISCAL SUSTAINABILITYFISCAL TRANSPARENCYFISCAL YEARGOVERNMENT EQUITYGOVERNMENT FINANCEGOVERNMENT LEVELGOVERNMENT PLANNINGGOVERNMENT PROGRAMGOVERNMENTAL ORGANIZATIONGROSS DOMESTIC PRODUCTHUMAN RESOURCESINSTITUTIONAL ARRANGEMENTINSTITUTIONAL ARRANGEMENTSINSTITUTIONAL FRAMEWORKINTERNAL AUDITINTERNAL AUDITINGINTERNAL CONTROLSINTERNATIONAL ACCOUNTING STANDARDSJUDICIARYLACK OF CLARITYLAWSLEGAL FRAMEWORKLEGAL PROVISIONSLEGISLATIONLEVELS OF GOVERNMENTLOCAL GOVERNMENTSMANAGEMENT ACCOUNTINGMINISTRY OF FINANCEMUNICIPAL GOVERNMENTSMUNICIPALITIESNATIONAL BUDGETNATIONAL GOVERNMENTSNATIONAL LEVELNATIONAL PLANNINGNATIONSPAYROLLPRIVATE SECTORPRIVATIZATIONPROCUREMENTPUBLIC DEBTPUBLIC DEBT MANAGEMENTPUBLIC EMPLOYMENTPUBLIC EXPENDITUREPUBLIC EXPENDITURE REVIEWPUBLIC EXPENDITURESPUBLIC FUNDINGPUBLIC INVESTMENTPUBLIC SECTORPUBLIC SECTOR BORROWINGPUBLIC SECTOR MANAGEMENTQUALITY CONTROLRECURRENT EXPENDITURESREPORTINGREPRESENTATIVESRESOURCE ALLOCATIONREVENUE ADMINISTRATIONREVENUE SHARINGSENATESOCIAL ASSISTANCESOCIAL SECTORSOCIAL SECTOR EXPENDITURESSOCIAL SECURITYSTATE ENTERPRISESSTATE OWNED ENTERPRISESSTATE-OWNED ENTERPRISESSTRUCTURAL ADJUSTMENTSUBNATIONAL GOVERNMENTSSUBVERSIONTAXTAXATIONTECHNICAL ASSISTANCETOTAL EXPENDITURESTREASURYWAGESWorld Bank10.1596/14504