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Economic & Sector Work :: Country Financial Accountability Assessment

Gambia : Country Financial Accountability Assessment

ACCOUNT ACCOUNTABILITY ACCOUNTANCY ACCOUNTANTS ACCOUNTING DOCUMENTS ACCOUNTING RECORDS ACCOUNTING STANDARDS ADJUSTMENT LENDING AGGREGATE FISCAL DISCIPLINE ALLOCATION OF RESOURCES ANTI-CORRUPTION AUDITING AUDITING PROFESSION AUDITING STANDARDS AUDITORS AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BUDGET CLASSIFICATION BUDGET ESTIMATES BUDGET EXECUTION BUDGET EXPENDITURES BUDGET FORMULATION BUDGET MANAGEMENT BUDGET PROCESS BUDGET SYSTEM BUDGETARY PROCESS BUDGETING CENTRAL GOVERNMENT CIVIL SERVICE CONSTITUENCIES CONSTITUTION COUNCILS CREDIT CONTROL DEBT DEBT RELIEF DEBT SERVICE DECISION-MAKING DECISION-MAKING PROCESS EXECUTION EXPENDITURE FINANCIAL ACCOUNTABILITY FINANCIAL MANAGEMENT FINANCIAL PLANNING FINANCIAL REPORTING FINANCIAL STATEMENTS FINANCIAL STATISTICS FINANCIAL SUPPORT FISCAL GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT FINANCE GOVERNMENT INFORMATION GOVERNMENT SALARIES GOVERNMENT SYSTEMS HOUSING HOUSING FINANCE HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT INSTITUTIONAL FRAMEWORK INTERNAL AUDIT INTERNAL AUDIT FUNCTION LAWS LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE OVERSIGHT LEGISLATURE LOCAL GOVERNMENT NATIONAL ACCOUNTS NATIONAL BUDGET NATIONALS NATURAL RESOURCES PAYROLL PORTS PRIVATE SECTOR PROCUREMENT PROVISIONS PUBLIC ACCOUNTABILITY PUBLIC ADMINISTRATION PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURE REVIEWS PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FUNDS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC TRANSPORTATION QUALITY CONTROL RESOURCE ALLOCATION RESOURCE ALLOCATIONS SOCIAL WELFARE SUBSIDIARY TECHNICAL ASSISTANCE TRANSPARENCY ALLOCATION OF RESOURCES COMPLIANCE INSTITUTIONAL CAPACITY ENFORCEMENT POWERS PARLIAMENTARY SYSTEM LEGISLATIVE OVERSIGHT PUBLIC FINANCE FINANCIAL PLANNING BUDGET MONITORING BUDGET IMPLEMENTATION AID COORDINATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY RECORDS MANAGEMENT HUMAN RESOURCES DEVELOPMENT AUDITING ACCESS TO INFORMATION CORRUPTION NONGOVERNMENTAL ORGANIZATIONS PUBLIC EXPENDITURES FOR EDUCATION PUBLIC EXPENDITURES FOR HEALTH GOVERNMENT SPENDING POLICY
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Washington, DC
Africa | Gambia, The
2013-07-01T22:14:56Z | 2013-07-01T22:14:56Z | 2003-06

In the Gambia, effective public financial management is promoted through a reasonably sound budget framework. However, there are a number of serious weaknesses, which create a high level of fiduciary risk. (Appendix 1 of this report.) Fiduciary risk means here that there is a risk that resources are not accounted for properly, that they are not used for intended purposes and that expenditure does not represent value for money. There are also risks associated with the governance environment. These weaknesses include poor resource allocation, non-compliance, limited execution, inadequate monitoring and scrutiny, insufficient capacity, lack of enforcement, non-transparency, and poor parliamentary oversight. The Government's pledge to strengthen governance needs to be translated into measures to address these weaknesses. This report recommends the following recommendations for providing evidence that significant progress has been made towards the fundamental benchmarks in public financial management: 1) Strengthen linkages between policies and budget expenditures through updating sectoral public expenditure reviews (PERs) for education, health, and agriculture & natural resources, and completing two new PERs in the infrastructure (transportation) and local government sectors. 2) Provide spending departments with indicative resource envelopes beyond the coming month/quarter to facilitate their planning and management. 3) Update the accounting records (including bank reconciliations), immediate address concerns with information technology systems (OMICRON, WANG) and urgently close the annual accounts. 4) Issue audit opinions on financial statements for 1991-1999.

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