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Economic & Sector Work :: Country Financial Accountability Assessment

Malawi : Country Financial Accountability Assessment

ACCOUNTABILITY ACCOUNTANCY ACCOUNTANTS ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING RECORDS ACCOUNTING SYSTEMS ADMINISTRATIVE PROCEDURES AUDIT COMMITTEES AUDIT DEPARTMENTS AUDIT REPORTS AUDIT STRATEGY AUDITING AUDITING STANDARDS AUDITORS AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BOARDS OF DIRECTORS BUDGET EXECUTION BUDGET IMPLEMENTATION BUDGET MANAGEMENT BUDGET PROCESS BUDGET SYSTEM BUDGETING CAPITAL MARKETS CENTRAL GOVERNMENT COMMERCIAL BANKS CONSOLIDATION CONSTITUTION CORPORATE GOVERNANCE COST RECOVERY DEBT DECENTRALIZATION DEVOLUTION DISCLOSURE DLG ENTERPRISE REFORM EXECUTION FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL REPORTING FINANCIAL RISK FINANCIAL SECTOR FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SYSTEMS FISCAL FISCAL DISCIPLINE FISCAL MANAGEMENT GOVERNMENT ACCOUNTABILITY GOVERNMENT ACCOUNTING GOVERNMENT AUDITING GOVERNMENT FINANCE GOVERNMENT LEVELS GOVERNMENT SPENDING GOVERNMENTAL ORGANISATIONS INSTITUTIONAL FRAMEWORK INSURANCE INTERNAL AUDIT INTERNAL AUDIT FUNCTION INTERNAL AUDITORS INTERNAL CONTROLS LEGAL FRAMEWORK LEGISLATION LEGISLATIVE FRAMEWORK LOCAL GOVERNMENT LOCAL GOVERNMENT ACCOUNTABILITY LOCAL GOVERNMENT FINANCE LOCAL GOVERNMENTS MANDATES MEMBERS OF PARLIAMENT MINISTERS MINISTRY OF FINANCE PARASTATALS PAYROLL PEER REVIEW PENALTIES PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATISATION PROCUREMENT PROVISIONS PUBLIC ACCOUNTANTS PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCE MANAGEMENT PUBLIC FUNDS PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SERVICE REGULATORY BODY REGULATORY FRAMEWORK RESOURCE ALLOCATIONS TRANSPARENCY TREASURY UNFUNDED MANDATES VOTING FINANCIAL ACCOUNTABILITY PUBLIC SECTOR PRIVATE SECTOR DONORS FIDUCIARY RESPONSIBILITIES INSTITUTIONAL FRAMEWORK LEGAL FRAMEWORK BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES POVERTY REDUCTION OBJECTIVES FINANCIAL MANAGEMENT SYSTEMS DECENTRALIZATION OBJECTIVES DEVELOPMENT ACTION PLANS INTERNAL AUDIT PROCUREMENT NONGOVERNMENTAL ORGANIZATION
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Washington, DC
Africa | Malawi
2013-07-01T22:14:21Z | 2013-07-01T22:14:21Z | 2003-09-15

In recent times, the Government of Malawi has undertaken various initiatives to strengthen the country's financial accountability framework. These include the following: A Medium-Term Expenditure Framework (MTEF) introduced progressively since 1995 to develop a strategic approach to budgeting over the medium-term, to improve resource allocations in accordance with emerging poverty reduction priorities, and to integrate the investment and recurrent sides of the dual budget; A cash budget system introduced in 1996 as a temporary measure to increase fiscal discipline and which remains in place as the central tool for budget implementation. An Integrated Financial Management Information System (IFMIS) project initiated in 1996 with the objectives of providing timely and accurate financial information; providing a standardized integrated financial management reporting system for the Government of Malawi at various operational levels; providing the Accountant General with a Government-wide upgraded computerized accounting system; and improving and strengthening financial control; A review of the Finance and Audit Act, which sought to improve the legal and regulatory framework for financial management in the public sector. The review also sought to provide for the independence of the Auditor General; A development of the system of Local Government guided by a comprehensive Decentralization Implementation Plan, jointly appraised by the Government of Malawi and the donors in August 2000. In spite of the foregoing, a lot more needed to be done and a number of prioritized recommendations are highlighted in the Development Action Plan.

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