Mentoring: The World Bank Perspective

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Presentation given by the World Bank at the IFAC Mentoring Workshop, February 17, 2012

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Mentoring: The World Bank Perspective

  1. 1. Accountancy Development for Results From Strategy to Action IFAC Mentoring Insights Workshop The World Bank Perspective Dubai, 17 February, 2012 Samia Msadek, Manager, Financial Management, East Asia and Pacific Region, The World Bank
  2. 2. The World Bank commitment toknowledge Fighting poverty : From financial and technical support to a Knowledge Strategy“Knowledge is like light. Weightless and intangible, itcan easily travel the world, enlightening the lives ofpeople everywhere. Yet billions of people still live in thedarkness of poverty—unnecessarily.” - World Development Report (1999), Knowledge for Development “The Bank’s scale, range, and diversity, including the interaction of knowledge with its lending operations, lie at the core of its specialized role as a key contributor to global development knowledge.” - World Bank Knowledge Report (2011) 2
  3. 3. Accountancy Development for Results …Increasing our effectivenessAccountancy Development an essential pillarto poverty alleviation and economicgrowth…The world needs reliable financialinformation Private sector development : Investment climate, Capital market development and Financial sector stability Public sector governance: transparency, financial accountability, proper use of public funds and fight against 3 corruption
  4. 4. Sustainable growth Employment generation Improved business environment and investment climateFinancial Financial Improved Improved governance and sector sector access to accountabilitystability development credit Financial sector Capital markets Tax & statistics regulators and General public & investors authorities banks Reliable, transparent and comparable financial information Strong professional accountancy
  5. 5. From goals to action: overcomingbarriers and effecting change ActionStrategic Low capacity Plan Effecting change Incomplete knowledge Weak incentives Goal To Results 5
  6. 6. Framework to EnhanceKnowledgePeer Learning Communities of Practice Connectingpeople and ideas Creating ideas Enhancing Knowledg e in A&A KnowledgePlatform - ROSC TalentAA – TA - GDLN Development Creating the Creating Leaders change 6
  7. 7. Building our knowledge to effectchange1. Diagnostic and analytical work  ROSC A&A – 120 reports , ROSC retrospective & lessons learned  Accounting for Growth in Latin America and the Caribbean book2. Regional initiatives  CReCER – Latin America and the Caribbean  Vienna Centre for Corporate Financial Reporting Reform  Singapore Center of Excellence for Accounting and Auditing 7
  8. 8. Knowledge in action… "To make knowledge productive, we will have to learn to see both forest and tree. We will have to learn to connect" - Peter K. Drucker 8
  9. 9. Acting at the Global level… East Asia-Pacific Europe and Central Asia • TA in Western Balkans and Moldova • Twinning in Cambodia (REPARIS) • GDLN series on IFRS • CoP in Accounting Education, Financial • TA in Reporting, Auditing, and Financial Sector China, Indonesia, Lao Supervision PDR, Mongolia, Philippines, • Twinning in Serbia Thailand, and Vietnam • Events in Bosnia & Herzegovina and North (strengthen PAO, enhance Middle-East, capacity in A&A, strengthen Kosovo Africa M&E of requirements) • TA in South AsiaLatin Egypt, Jordan, Lebanon, • TA in Sri Lanka toAmerica/Caribbean West Bank-Gaza, Yemen strengthen independent• CReCER conferences to strengthen A&A audit regulator(2007-2011) • CAP in Morocco • Twinning in Africa Bangladesh• CReCER CoP • Twinning in• TA Accounting Botswana, MozambiquEducation in Central e, Malawi, andAmerica Rwanda • ROSC A&A Roundtable Conference (2010) in Addis Ababa
  10. 10. EAP - Singapore Center of Excellence forAccounting and Auditing Leveraging Singapore’s World class Objective: knowledge and expertise to accelerate the reform agenda in Accounting and Auditing in EAP  Investing in people’s skills and identifying talent to create leaders to support the A&A agenda – regional approach to capacity building  On the road to 2030: intellectual leadership to support the reforms and research to better position Professional Accountancy Organizations – connecting the trio: financial architecture – system - talent Business Concept  Designing Technical Assistance activities – Team of Experts and group of practice  Selecting acceptable institutions to deliver the TAs & mobilizing funds  Engaging with PAOs, learning centers, universities and research centers  Ensuring proper oversight and result
  11. 11. ECA - Vienna Centre for Corporate Financial Reporting ReformKey priorities for ECA countries• Competitiveness• Regional + ROSC A&A FRTAP integration Program (4 countries)• EU membership + Central Asia REPARIS (8 countries)Improved, harmonized • Opened October 2007and EU-aligned CFR • Based in Viennasystems support those CFRR 11 • 3 main programspriorities • Approx. 20 staff
  12. 12. LAC - CReCER: Accounting and Accountability for Regional Economic Growth Accounting for Analytical Products Growth in Latin America Community ofFIRST, DFID, SF Practice LAC grants Workshops: Technical GDLN Series Knowledg Capacity Assistanc CReCER e Sharing IPSAS Building e Conference Translations IFRS for SMEs Translation IFRS for SMEs Training Partnership s& Global Partners Networking
  13. 13. Achievements: World Banktechnical assistance by source 0ffunding 4% 11% 14% 28% 43% Lending Grant-IDF Grant-FIRST Grant-Other Bank-funded 13
  14. 14. World Bank technical assistance bytheme Standard Setting PAO Development Legal Framework CAP AccountingEducation M&E 0 5 10 15 20 25 30 35 40 45 50 14 * cross-cutting projects may be categorized in more than one theme
  15. 15. Going forward: raising our game More change agents … more leaders… preparing the future & our 2030 strategy Reinventing vs restructuring : 5 elements : the purpose - incentives – power structure – accountability – culture Creating an increase of efficiency, effectiveness, adaptability, and capacity to innovate 15
  16. 16. From mentoring to strategicpartnershipsSolutions require a mix of approaches and tools Global approach to Knowledge to achieve development results: Communities of Practice to support research and create ideas Invest in people’s skills to create leaders and talented accountants Encourage South-South exchange & peer learning: connecting people and ideas Communicate with policy makers and advocacy with stakeholdersMOSAIC : a common16purpose to realize opportunities
  17. 17. “ The reasonable man adapts himself to the world. The unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man”. George Bernard Shaw in Effective innovation 17

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