Reviews of: The Political Economy of Government Auditing: Financial Governance and the Rule of Law in Latin America and Beyond
The Challenge of Reforming Budgetary Institutions in Developing Countries
A Review of PFM Reform Literature
Taking Stock: What do PEFA Assessments Tell Us About PFM Systems Across Countries
Independence of supreme audit institutions in sub saharan africaicgfmconference
In the next paper, Andy Wynne considers the key issue of independence for supreme audit institutions (auditors general in English speaking countries). Models of public sector ‘external’ audit type institutions are described for English and French speaking African countries. Neither approach can claim to fully meet international standards for independence, but different approaches to the provision of audit type services are considered to be acceptable. This emphasises the need to understand existing systems before external models are adopted as part of a reform process.
This document summarizes and critiques a report on economic freedom in Arab countries from 2010. It notes several issues with how Palestinian data and economic conditions were assessed in the original report. Specifically, it questions the reliability and scope of some of the scores given to Palestine. It also argues that the definition of economic freedom used in the report is vague and could justify corruption. The summary criticizes the lack of consideration for wealth distribution and social implications of economic policy.
Edward Eustace is an Irish/Canadian/British national with over 50 years of experience in financial auditing and performance auditing. He has worked extensively in developing countries in audit capacity building projects, helping to modernize public sector auditing standards and practices. Some of his areas of expertise include performance auditing, procurement auditing, strategic planning, and training auditors. He has led numerous technical assistance projects in countries such as Sierra Leone, Afghanistan, Armenia, and Bulgaria to strengthen supreme audit institutions and improve government financial management.
The document discusses turning Nigeria's economic crisis into an opportunity through fiscal stimulus and implementing the Strategic Implementation Plan (SIP). It summarizes that Nigeria is currently in a recession due to overdependence on oil, falling oil prices, and declining foreign reserves. To recover, it recommends large fiscal stimulus through asset sales and infrastructure projects to boost the economy, along with fully implementing the SIP which focuses on diversifying the economy, boosting agriculture and non-oil exports, and attracting investment through business reforms. Key actions proposed include deregulating petroleum product prices to reduce foreign exchange demands and providing incentives to develop private refineries.
Independent oversight bodies lessons from fiscal productivity and regulatory ...OECDtax
This document summarizes an academic paper that discusses the rise of independent oversight bodies in fiscal policy, productivity, and regulation. It begins by noting the growing trend for governments to establish independent, non-partisan institutions to provide oversight and analysis to inform policymaking. However, some argue this replaces democracy with technocracy. The document then examines three types of independent bodies - independent fiscal institutions, independent productivity commissions, and regulatory oversight bodies. It provides examples from different countries and discusses key features like independence. In conclusion, it considers lessons learned and debates around technocratic approaches.
Volume 2, 2009 International Journal on Governmental Financial Management
The State of Budget Transparency Worldwide, Vivek Ramkumar
International Public Sector Accounting Standards Board Review the Cash Basis IPSAS: An Opportunity to Influence Developments, Paul Sutcliffe
The Cash Basis IPSAS – An Alternative View, Michael Parry and Andy Wynne
Using Periodic Audits to Prevent Catastrophic Project Failure Paul Dorsey
Framework for Evaluating Internal Controls over Financial Reporting in Sovereign Governments, Jawahar Thakur and Nalin Kumar Srivastava
Short-Comings of Government Financial Management: A Generational Accounting Critique, Liyan Tang and Paul J M Klumpes
Investigating the Governmental Accounting Reform of Greek National Health System: Some Preliminary Evidence, Filippos Stamatiadis
Nigeria’s Economic Competitiveness in the African Context, John C Anyanwu and Andrew E O Erhijakpor
The National Audit Office identified 3,038 companies related to central government departments as of March 2014 by amalgamating multiple public sources and conducting additional research. These companies include 2,591 academy trusts, 218 parent companies wholly or partly owned by government, and 229 subsidiaries. While some sources listed only 28-69 companies, the NAO found wide variation due to different classification methods and a lack of a single definitive source. The substantial number of companies highlights issues of transparency, accountability, and governance in government.
The article provides a conceptual analysis of four key issues in the IPSASB's proposed conceptual framework for public sector financial reporting:
1. The meaning of "conceptual framework" which could cause misunderstandings if not clearly defined.
2. The objectives of accountability and decision-usefulness create tension that the framework does not adequately address. Priority should be given to one over the other.
3. The scope of public sector financial reporting is broader than private sector but this is not fully reflected in the framework.
4. The qualitative characteristics proposed need revision to better reflect the priorities and trade-offs in public sector reporting. Specifically, the characteristics of faithful representation and relevance require redefinition for the public
Independence of supreme audit institutions in sub saharan africaicgfmconference
In the next paper, Andy Wynne considers the key issue of independence for supreme audit institutions (auditors general in English speaking countries). Models of public sector ‘external’ audit type institutions are described for English and French speaking African countries. Neither approach can claim to fully meet international standards for independence, but different approaches to the provision of audit type services are considered to be acceptable. This emphasises the need to understand existing systems before external models are adopted as part of a reform process.
This document summarizes and critiques a report on economic freedom in Arab countries from 2010. It notes several issues with how Palestinian data and economic conditions were assessed in the original report. Specifically, it questions the reliability and scope of some of the scores given to Palestine. It also argues that the definition of economic freedom used in the report is vague and could justify corruption. The summary criticizes the lack of consideration for wealth distribution and social implications of economic policy.
Edward Eustace is an Irish/Canadian/British national with over 50 years of experience in financial auditing and performance auditing. He has worked extensively in developing countries in audit capacity building projects, helping to modernize public sector auditing standards and practices. Some of his areas of expertise include performance auditing, procurement auditing, strategic planning, and training auditors. He has led numerous technical assistance projects in countries such as Sierra Leone, Afghanistan, Armenia, and Bulgaria to strengthen supreme audit institutions and improve government financial management.
The document discusses turning Nigeria's economic crisis into an opportunity through fiscal stimulus and implementing the Strategic Implementation Plan (SIP). It summarizes that Nigeria is currently in a recession due to overdependence on oil, falling oil prices, and declining foreign reserves. To recover, it recommends large fiscal stimulus through asset sales and infrastructure projects to boost the economy, along with fully implementing the SIP which focuses on diversifying the economy, boosting agriculture and non-oil exports, and attracting investment through business reforms. Key actions proposed include deregulating petroleum product prices to reduce foreign exchange demands and providing incentives to develop private refineries.
Independent oversight bodies lessons from fiscal productivity and regulatory ...OECDtax
This document summarizes an academic paper that discusses the rise of independent oversight bodies in fiscal policy, productivity, and regulation. It begins by noting the growing trend for governments to establish independent, non-partisan institutions to provide oversight and analysis to inform policymaking. However, some argue this replaces democracy with technocracy. The document then examines three types of independent bodies - independent fiscal institutions, independent productivity commissions, and regulatory oversight bodies. It provides examples from different countries and discusses key features like independence. In conclusion, it considers lessons learned and debates around technocratic approaches.
Volume 2, 2009 International Journal on Governmental Financial Management
The State of Budget Transparency Worldwide, Vivek Ramkumar
International Public Sector Accounting Standards Board Review the Cash Basis IPSAS: An Opportunity to Influence Developments, Paul Sutcliffe
The Cash Basis IPSAS – An Alternative View, Michael Parry and Andy Wynne
Using Periodic Audits to Prevent Catastrophic Project Failure Paul Dorsey
Framework for Evaluating Internal Controls over Financial Reporting in Sovereign Governments, Jawahar Thakur and Nalin Kumar Srivastava
Short-Comings of Government Financial Management: A Generational Accounting Critique, Liyan Tang and Paul J M Klumpes
Investigating the Governmental Accounting Reform of Greek National Health System: Some Preliminary Evidence, Filippos Stamatiadis
Nigeria’s Economic Competitiveness in the African Context, John C Anyanwu and Andrew E O Erhijakpor
The National Audit Office identified 3,038 companies related to central government departments as of March 2014 by amalgamating multiple public sources and conducting additional research. These companies include 2,591 academy trusts, 218 parent companies wholly or partly owned by government, and 229 subsidiaries. While some sources listed only 28-69 companies, the NAO found wide variation due to different classification methods and a lack of a single definitive source. The substantial number of companies highlights issues of transparency, accountability, and governance in government.
The article provides a conceptual analysis of four key issues in the IPSASB's proposed conceptual framework for public sector financial reporting:
1. The meaning of "conceptual framework" which could cause misunderstandings if not clearly defined.
2. The objectives of accountability and decision-usefulness create tension that the framework does not adequately address. Priority should be given to one over the other.
3. The scope of public sector financial reporting is broader than private sector but this is not fully reflected in the framework.
4. The qualitative characteristics proposed need revision to better reflect the priorities and trade-offs in public sector reporting. Specifically, the characteristics of faithful representation and relevance require redefinition for the public
Organization Of Financial Control In The Usaantuannetta
The document discusses organization of financial control in the USA. It summarizes that financial control includes auditing all budget accounts and organizations have full financial information. The Lima declaration from 1977 established principles for independent government auditing. Key principles for public control include independence sanctioned by legislation and inspecting effectiveness, efficacy and economy of transactions. Financial control methods include pre-audit during planning, continuous audit during budget execution, and post-audit at fiscal year end. The GAO is the main body for control in the USA and works independently for Congress as a "congressional watchdog".
Organization Of Financial Control In The Usaantuannetta
The document discusses organization of financial control in the USA. It summarizes that financial control includes auditing all budget accounts and organizations have full financial information. The goal is to evaluate how well the system works. It also describes the Lima Declaration which established principles for independent government auditing. The Government Accountability Office (GAO) is the main body that conducts control in the USA and works for Congress as an independent watchdog. The GAO employs experts and specialists to audit federal programs, conduct investigations, provide legal advice, and resolve bid protests.
This document provides an overview of the International Journal on Governmental Financial Management, which is published by the International Consortium on Governmental Financial Management. The journal contains articles on topics related to public sector accounting, auditing, and financial management. This issue includes articles on implementing diagnostic tools to assess country standards' compliance with international standards, a peer learning initiative in Europe and Central Asia, measuring and improving the quality of supreme audit institutions in developing countries, and other topics. The foreword discusses the scope and contents of the first issue under new editorship.
Audit practice in global perspective present and future challengesAlexander Decker
This document discusses the history and development of auditing from its origins to modern practices. It covers:
- The evolution of auditing from simple record-keeping to fraud detection coinciding with the Industrial Revolution.
- The professionalization of auditing in the 20th century with standardized reporting practices and the emergence of auditing firms.
- Key events that increased challenges for auditors like the Enron and Worldcom scandals, requiring stricter independence from clients.
- The globalization of auditing standards through organizations like the IAASB and IFIAR working to increase quality and consistency worldwide.
This document discusses illicit financial flows from developing countries and OECD responses to combat them. It analyzes OECD performance in combating money laundering, tax evasion, bribery, and recovering stolen assets. Key findings include weaknesses in OECD anti-money laundering regulations, beneficial ownership transparency, and developing country capacity for tax information exchange and transfer pricing oversight. The document recommends strengthening these areas and international cooperation to more effectively address illicit financial flows.
Governance and anticorruption assignemnt admin 425Amoah Daniel
This document provides an overview of governance and anti-corruption in Ghana. It discusses the causes and impacts of corruption, as well as features of good governance like accountability and transparency. It describes the roles of key governance institutions in Ghana like Parliament, the Cabinet, judiciary, and civil service in promoting transparency and accountability to reduce corruption. It also discusses anti-corruption policies and commissions that have been established in Ghana to investigate instances of corruption and promote justice.
Evaluation of fraud and internal control proceduresAlexander Decker
This document evaluates internal control procedures and fraud management in two government ministries in Nigeria. Through a survey of accounting, auditing, and management staff in the ministries, the study found clear failures of internal checks and an absence of proper segregation of duties. To address weaknesses in the fraud management and internal control systems, the author recommends improvements to make the systems more active and ensure greater accountability, transparency and integrity in the civil service.
Effectiveness of government audit system in sri lankaShakthi Fernando
This study is an Evaluation of the effectiveness of Government Audit System with respective to powers of Auditor General and COPA/COPE. This study is not an individual work of mine. It is a co-work of myself, Janith Perera and Chandi Damayanthi who are undergraduates of Sabaragamuwa University of Sri Lanka.
Framework For Evaluating Internal Controls Over Financial Reporting In Sovere...icgfmconference
Framework for Evaluating Internal Controls over Financial Reporting in Sovereign Governments This paper develops a proposed framework for evaluating government financial reporting systems. It is based on an international study of financial reporting and their associated internal controls. The framework provides a generic model for evaluating internal controls over financial reporting at three different levels. Sovereign governments publish their financial statements which have far reaching implications. The size and scale of economic activity of sovereign governments means that their financial reports are more susceptible to errors. Their significance has also increased with globalization. The challenge is greater than for private sector accounting because of the lack in uniformity in government accounting. In contrast, most private enterprises produce accounts based on commercial principles and a double entry accounting system. Government accounting ranges from modified cash based systems in most countries to full accrual accounting in New Zealand and a few other countries. We would welcome a debate over our proposed framework.
Now in its third year, Duff & Phelps' Global Enforcement Review provides analysis and commentary on global enforcement trends in the financial services industry. To compile this report, we studied published data released by the UK Financial Conduct Authority, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the U.S. Financial Industry Regulatory Authority, and the Securities and Futures Commission of Hong Kong in 2015 and recent years. We have also explored the enforcement trends specifically in various offshore jurisdictions in the chapter: The Changing Tides. As definitions and reporting standards vary across the authorities under review, certain data points may not be unilaterally comparable or available. We have nevertheless sought to examine figures from each regulatory body as indicative of wider trends in the global financial services industry.
This document summarizes an issue of the International Journal on Governmental Financial Management. It discusses several articles on topics related to public sector budgeting, accounting standards, financial management reforms, and municipal bond markets. The issue also provides a summary of a recent ICGFM conference on using financial management information systems to improve accountability. A variety of perspectives are presented on ongoing debates around public sector financial management reforms and their real-world impacts. The journal encourages further discussion and sharing of successes and lessons learned from different countries' experiences.
This paper discusses the lack of consensus around how to measure the quality of governance and state capacity. It reviews existing approaches like procedural, capacity, output and autonomy measures. The paper argues that capacity and autonomy measures provide a better framework, as they can explain why low-income countries are advised to reduce bureaucratic autonomy while high-income ones seek to increase it. Existing measures have limitations, and the paper aims to better conceptualize governance to improve its measurement.
The document discusses current issues in international accounting, including differences between countries' accounting standards, and efforts toward harmonization and convergence. It notes that historically, accounting grew up differently in different countries, leading to considerable differences. For example, some countries allow reporting assets at market value while others do not. It then examines some of the key causes of these differences, such as countries' legal systems, tax systems, providers of capital, national culture, and historical factors. Finally, it discusses ongoing efforts toward harmonizing and converging standards to increase comparability between countries' financial statements.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations but supporters believe it will increase transparency and reduce costs for global businesses.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations and may not suit all countries.
We welcome the decision by the International Public Sector Accounting Standards Board (IPSASB) to review the Cash Basis IPSAS, but we are reminded of the story of the pedestrian who was asked by a motorist for directions, and replied, “If I was you I wouldn’t start from here...”.
Imf government of ukraine report on diagnostic study of governance issues ...Andrew Gelston
This document summarizes a diagnostic study by the Government of Ukraine on governance issues related to corruption, business climate, and judicial effectiveness. It finds widespread agreement that corruption is pervasive, the business climate is hampered by an overbearing regulatory framework, and the judiciary is ineffective in resolving commercial disputes. Reforms have begun but much remains to be done. Powerful political and economic elites have formed entrenched networks that control public institutions for self-enrichment. A window of opportunity exists after recent political changes, but sustained political will is needed to overcome vested interests and push reforms forward.
Part IIntroduction-objective and scope of financial analysisP.docxdanhaley45372
Part I:Introduction-objective and scope of financial analysis
Part II: Country Analysis
A. Macroeconomic Analysis and Economic Ties
China has undergone a relatively great deal of economic restructuring over the past year and will likely continue to do so moving forward, due to initiatives put in place by the government. China has been transitioning from an investment- and export-led growth model to one driven by consumption and innovation, which has led to the emergence of what is being called a two-track economy. The part of the economy that is focused in basic manufacturing and traditional industries is experiencing difficulty growing, while the part of the economy focused in services, advanced manufacturing and consumer markets shows strong potential growth. The economy does face some potential risks though. Due to deterioration of the financial structure and decline of financial efficiency, the economy faces risks of stagflation and risks triggered by rising interest rates, worsening family finances and a real estate bubble. As a whole, the Chinese economy is predicted to have long-term growth from various dividends including system, labor, science and technology, natural resources, internationalization and ecologicalization that will promote strong and continuous growth and changes in the economic development.
B. Political Analysis
The political power in China is called the Chinese Communist Party (CCP)and has been in control for 63 years. Conflicting interests among leaders and institutions is common, but a state of a permanent monopoly on power and intolerance of those who question its right to rule still exists. There is, however, a collective leadership body of China's most senior leadership body, known as the Communist Party's Politburo Standing Committee (PSC). In the PSC the leaders are ranked from one to nine, one having the most power, but a majority must be in accordance for the passing of major policies. The PSC has "absolute leadership" and control over the military, known as the People's Liberation Army (PLA). The PLA is also allowed to have two uniformed officers serve on the PSC. Overall, political figures have the power and ability to influence and/or advance particular causes, include an increasingly diverse media, state-owned and private corporations, official and quasi-official research institutes, university academics, officially sponsored associations and societies, and grassroots non-governmental organizations.
C. Providers of Financing
D. Cultural Analysis
As home to more than one billion people, China has a variety of customs and traditions that vary by geography and ethnicity. Vital components of Chinese culture include religion, food, style, language, marriage, and music. Currently there are five official religions recognized in China - Buddhism, Taoism, Islam, Catholicism, and Protestantism. All other religions are illegal. As far as language is concerned, there are seven major groups of di.
Presentation from Parliament’s perspective by Ms Chiara Goretti, Economic Advisor of the Minister of Finance and former acting head of the Parliament, Budget Service Committee, from Italy
El orador cierra la conferencia agradeciendo a los participantes y expertos por compartir su conocimiento durante los últimos tres días. Resalta que a pesar de terminar la conferencia, el conocimiento adquirido perdurará y ayudará a impulsar el progreso en los países representados. Finalmente, agradece a los patrocinadores y organizadores por hacer posible este evento, y desea un buen viaje a todos los asistentes.
Organization Of Financial Control In The Usaantuannetta
The document discusses organization of financial control in the USA. It summarizes that financial control includes auditing all budget accounts and organizations have full financial information. The Lima declaration from 1977 established principles for independent government auditing. Key principles for public control include independence sanctioned by legislation and inspecting effectiveness, efficacy and economy of transactions. Financial control methods include pre-audit during planning, continuous audit during budget execution, and post-audit at fiscal year end. The GAO is the main body for control in the USA and works independently for Congress as a "congressional watchdog".
Organization Of Financial Control In The Usaantuannetta
The document discusses organization of financial control in the USA. It summarizes that financial control includes auditing all budget accounts and organizations have full financial information. The goal is to evaluate how well the system works. It also describes the Lima Declaration which established principles for independent government auditing. The Government Accountability Office (GAO) is the main body that conducts control in the USA and works for Congress as an independent watchdog. The GAO employs experts and specialists to audit federal programs, conduct investigations, provide legal advice, and resolve bid protests.
This document provides an overview of the International Journal on Governmental Financial Management, which is published by the International Consortium on Governmental Financial Management. The journal contains articles on topics related to public sector accounting, auditing, and financial management. This issue includes articles on implementing diagnostic tools to assess country standards' compliance with international standards, a peer learning initiative in Europe and Central Asia, measuring and improving the quality of supreme audit institutions in developing countries, and other topics. The foreword discusses the scope and contents of the first issue under new editorship.
Audit practice in global perspective present and future challengesAlexander Decker
This document discusses the history and development of auditing from its origins to modern practices. It covers:
- The evolution of auditing from simple record-keeping to fraud detection coinciding with the Industrial Revolution.
- The professionalization of auditing in the 20th century with standardized reporting practices and the emergence of auditing firms.
- Key events that increased challenges for auditors like the Enron and Worldcom scandals, requiring stricter independence from clients.
- The globalization of auditing standards through organizations like the IAASB and IFIAR working to increase quality and consistency worldwide.
This document discusses illicit financial flows from developing countries and OECD responses to combat them. It analyzes OECD performance in combating money laundering, tax evasion, bribery, and recovering stolen assets. Key findings include weaknesses in OECD anti-money laundering regulations, beneficial ownership transparency, and developing country capacity for tax information exchange and transfer pricing oversight. The document recommends strengthening these areas and international cooperation to more effectively address illicit financial flows.
Governance and anticorruption assignemnt admin 425Amoah Daniel
This document provides an overview of governance and anti-corruption in Ghana. It discusses the causes and impacts of corruption, as well as features of good governance like accountability and transparency. It describes the roles of key governance institutions in Ghana like Parliament, the Cabinet, judiciary, and civil service in promoting transparency and accountability to reduce corruption. It also discusses anti-corruption policies and commissions that have been established in Ghana to investigate instances of corruption and promote justice.
Evaluation of fraud and internal control proceduresAlexander Decker
This document evaluates internal control procedures and fraud management in two government ministries in Nigeria. Through a survey of accounting, auditing, and management staff in the ministries, the study found clear failures of internal checks and an absence of proper segregation of duties. To address weaknesses in the fraud management and internal control systems, the author recommends improvements to make the systems more active and ensure greater accountability, transparency and integrity in the civil service.
Effectiveness of government audit system in sri lankaShakthi Fernando
This study is an Evaluation of the effectiveness of Government Audit System with respective to powers of Auditor General and COPA/COPE. This study is not an individual work of mine. It is a co-work of myself, Janith Perera and Chandi Damayanthi who are undergraduates of Sabaragamuwa University of Sri Lanka.
Framework For Evaluating Internal Controls Over Financial Reporting In Sovere...icgfmconference
Framework for Evaluating Internal Controls over Financial Reporting in Sovereign Governments This paper develops a proposed framework for evaluating government financial reporting systems. It is based on an international study of financial reporting and their associated internal controls. The framework provides a generic model for evaluating internal controls over financial reporting at three different levels. Sovereign governments publish their financial statements which have far reaching implications. The size and scale of economic activity of sovereign governments means that their financial reports are more susceptible to errors. Their significance has also increased with globalization. The challenge is greater than for private sector accounting because of the lack in uniformity in government accounting. In contrast, most private enterprises produce accounts based on commercial principles and a double entry accounting system. Government accounting ranges from modified cash based systems in most countries to full accrual accounting in New Zealand and a few other countries. We would welcome a debate over our proposed framework.
Now in its third year, Duff & Phelps' Global Enforcement Review provides analysis and commentary on global enforcement trends in the financial services industry. To compile this report, we studied published data released by the UK Financial Conduct Authority, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, the U.S. Financial Industry Regulatory Authority, and the Securities and Futures Commission of Hong Kong in 2015 and recent years. We have also explored the enforcement trends specifically in various offshore jurisdictions in the chapter: The Changing Tides. As definitions and reporting standards vary across the authorities under review, certain data points may not be unilaterally comparable or available. We have nevertheless sought to examine figures from each regulatory body as indicative of wider trends in the global financial services industry.
This document summarizes an issue of the International Journal on Governmental Financial Management. It discusses several articles on topics related to public sector budgeting, accounting standards, financial management reforms, and municipal bond markets. The issue also provides a summary of a recent ICGFM conference on using financial management information systems to improve accountability. A variety of perspectives are presented on ongoing debates around public sector financial management reforms and their real-world impacts. The journal encourages further discussion and sharing of successes and lessons learned from different countries' experiences.
This paper discusses the lack of consensus around how to measure the quality of governance and state capacity. It reviews existing approaches like procedural, capacity, output and autonomy measures. The paper argues that capacity and autonomy measures provide a better framework, as they can explain why low-income countries are advised to reduce bureaucratic autonomy while high-income ones seek to increase it. Existing measures have limitations, and the paper aims to better conceptualize governance to improve its measurement.
The document discusses current issues in international accounting, including differences between countries' accounting standards, and efforts toward harmonization and convergence. It notes that historically, accounting grew up differently in different countries, leading to considerable differences. For example, some countries allow reporting assets at market value while others do not. It then examines some of the key causes of these differences, such as countries' legal systems, tax systems, providers of capital, national culture, and historical factors. Finally, it discusses ongoing efforts toward harmonizing and converging standards to increase comparability between countries' financial statements.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations but supporters believe it will increase transparency and reduce costs for global businesses.
The document discusses current issues in international accounting including differences between countries' accounting standards, efforts toward harmonization, and convergence of standards. It notes that historically accounting grew independently in different countries, resulting in considerable differences. Major factors influencing these differences include a country's legal system, taxation practices, capital providers, culture, and historical events. International organizations are working to reduce differences and increase comparability through harmonization and convergence. Critics argue convergence has limitations and may not suit all countries.
We welcome the decision by the International Public Sector Accounting Standards Board (IPSASB) to review the Cash Basis IPSAS, but we are reminded of the story of the pedestrian who was asked by a motorist for directions, and replied, “If I was you I wouldn’t start from here...”.
Imf government of ukraine report on diagnostic study of governance issues ...Andrew Gelston
This document summarizes a diagnostic study by the Government of Ukraine on governance issues related to corruption, business climate, and judicial effectiveness. It finds widespread agreement that corruption is pervasive, the business climate is hampered by an overbearing regulatory framework, and the judiciary is ineffective in resolving commercial disputes. Reforms have begun but much remains to be done. Powerful political and economic elites have formed entrenched networks that control public institutions for self-enrichment. A window of opportunity exists after recent political changes, but sustained political will is needed to overcome vested interests and push reforms forward.
Part IIntroduction-objective and scope of financial analysisP.docxdanhaley45372
Part I:Introduction-objective and scope of financial analysis
Part II: Country Analysis
A. Macroeconomic Analysis and Economic Ties
China has undergone a relatively great deal of economic restructuring over the past year and will likely continue to do so moving forward, due to initiatives put in place by the government. China has been transitioning from an investment- and export-led growth model to one driven by consumption and innovation, which has led to the emergence of what is being called a two-track economy. The part of the economy that is focused in basic manufacturing and traditional industries is experiencing difficulty growing, while the part of the economy focused in services, advanced manufacturing and consumer markets shows strong potential growth. The economy does face some potential risks though. Due to deterioration of the financial structure and decline of financial efficiency, the economy faces risks of stagflation and risks triggered by rising interest rates, worsening family finances and a real estate bubble. As a whole, the Chinese economy is predicted to have long-term growth from various dividends including system, labor, science and technology, natural resources, internationalization and ecologicalization that will promote strong and continuous growth and changes in the economic development.
B. Political Analysis
The political power in China is called the Chinese Communist Party (CCP)and has been in control for 63 years. Conflicting interests among leaders and institutions is common, but a state of a permanent monopoly on power and intolerance of those who question its right to rule still exists. There is, however, a collective leadership body of China's most senior leadership body, known as the Communist Party's Politburo Standing Committee (PSC). In the PSC the leaders are ranked from one to nine, one having the most power, but a majority must be in accordance for the passing of major policies. The PSC has "absolute leadership" and control over the military, known as the People's Liberation Army (PLA). The PLA is also allowed to have two uniformed officers serve on the PSC. Overall, political figures have the power and ability to influence and/or advance particular causes, include an increasingly diverse media, state-owned and private corporations, official and quasi-official research institutes, university academics, officially sponsored associations and societies, and grassroots non-governmental organizations.
C. Providers of Financing
D. Cultural Analysis
As home to more than one billion people, China has a variety of customs and traditions that vary by geography and ethnicity. Vital components of Chinese culture include religion, food, style, language, marriage, and music. Currently there are five official religions recognized in China - Buddhism, Taoism, Islam, Catholicism, and Protestantism. All other religions are illegal. As far as language is concerned, there are seven major groups of di.
Presentation from Parliament’s perspective by Ms Chiara Goretti, Economic Advisor of the Minister of Finance and former acting head of the Parliament, Budget Service Committee, from Italy
El orador cierra la conferencia agradeciendo a los participantes y expertos por compartir su conocimiento durante los últimos tres días. Resalta que a pesar de terminar la conferencia, el conocimiento adquirido perdurará y ayudará a impulsar el progreso en los países representados. Finalmente, agradece a los patrocinadores y organizadores por hacer posible este evento, y desea un buen viaje a todos los asistentes.
The speaker closes out the three-day conference by thanking the participants and emphasizing the importance of continuing to promote transparency, accountability, and good governance when returning home. Key principles discussed at the conference such as these form the foundation of strong public financial management and help inspire public trust. With over 100 representatives from around the globe in attendance, the knowledge shared has great potential impact, and the speaker hopes participants will continue the discussion with colleagues.
Este documento resume tres proyectos que buscan mejorar la movilización de recursos nacionales en Afganistán, Vietnam y Túnez. En Afganistán, el proyecto ATAR está automatizando los procedimientos aduaneros, gestionando el riesgo y estableciendo estándares de auditoría y conducta. En Vietnam, el proyecto GIG está promoviendo altos estándares en las compras públicas. Y en Túnez, el proyecto TCP está apoyando la reforma fiscal a través del análisis de políticas.
This document summarizes presentations from three USAID-funded projects working to improve domestic resource mobilization:
1) The Afghanistan Trade and Revenue Project is working to modernize customs procedures through electronic payments, risk-based inspections, internal audits, and professional standards to increase revenue collection.
2) The Vietnam Governance for Inclusive Growth Project is promoting high procurement standards to comply with trade agreements and strengthen transparency, including revising laws, training officials, and expanding e-procurement.
3) The Tunisia Tax and Customs Reform Activity used modeling and analysis to develop reforms simplifying taxes and customs duties that were included in the 2016 Finance Law, and it aims to establish a Fiscal Analysis Unit to
Institutional transparency is key to preventing corruption. When corporate records, court documents, government procurement records, and media are publicly accessible online, it allows companies to thoroughly research potential partners and identify "red flags" like obscure ownership structures, corruption allegations, or ties to government officials. However, transparency varies greatly between countries and even within countries. In Brazil, for example, corporate records availability ranges from comprehensive online databases to only being available on-site for a fee. Where transparency is lacking, it constrains the private sector's ability to conduct proper due diligence and avoid corrupt partners and transactions.
This document summarizes a political scientist's perspective on corruption from an international conference on governmental financial management. It discusses how corruption is correlated with levels of economic development, political institutions, economic rents, bureaucratic and political incentives, taxation systems, customs agencies, and budget management processes. Potential solutions are outlined like reforming laws and procedures, increasing transparency, oversight, and technology, and strengthening institutions.
The document discusses how capturing illicit financial flows can help fund achieving the UN's Sustainable Development Goals. It notes that $1 trillion in illicit capital leaves developing countries annually, contributing to an estimated $2.5 trillion annual funding gap for the Goals. While political will exists to reduce these flows, misinvoiced trade accounts for $878 billion per year. The document introduces a Trade Misinvoicing Assessment System (TMAS) that analyzes pricing data to help customs officials identify misinvoiced goods shipments, which could help capture more revenue domestically and close the funding gap.
This document discusses how natural resources are embedded within many of the UN's Sustainable Development Goals (SDGs) and how corruption is often linked to countries that rely heavily on natural resource exports. It notes that while there is no standalone "natural resources" SDG, natural resources relate to goals around ending poverty, achieving food security, access to clean water and affordable energy, sustainable economic growth, reducing inequality, sustainable consumption and production, climate action, and more. It then outlines how corruption is more common in countries with weak institutions that rely on natural resource exports, especially oil, and explains some of the political and economic factors that can contribute to this "resource curse". The document concludes by noting increased calls for transparency and accountability in
La iniciativa de Addis Ababa busca que los países recauden más fondos domésticos para alcanzar los Objetivos de Desarrollo Sostenible. Desde la conferencia de Addis Ababa en 2015, varios países y organizaciones han trabajado para mejorar la recaudación de impuestos domésticos, como Rwanda que se unió a la iniciativa y Afganistán que comenzó un programa de recaudación de impuestos domésticos. Otras áreas de enfoque incluyen la erosión de la base imponible y la transferencia de beneficios
The document summarizes the Addis Tax Initiative agreed upon at the Third International Conference on Financing for Development. The initiative is a partnership to improve domestic resource mobilization by encouraging donors to increase funding for tax systems and developing countries to raise tax revenues to fund development goals. Several countries and organizations have signed on to the initiative and some progress has been made through diagnostic tools and programs in countries like Rwanda and Afghanistan. Other related efforts on base erosion, tax incentives, and private sector participation are also discussed.
El ICGFM es una comunidad internacional fundada en 1978 dedicada a mejorar la gestión de finanzas públicas. Reúne a líderes y practicantes de finanzas gubernamentales de todos los niveles para promover el intercambio de mejores prácticas. Ofrece conferencias, publicaciones y certificaciones para apoyar el desarrollo profesional continuo de sus miembros individuales y organizacionales.
The International Consortium on Governmental Financial Management (ICGFM) is a non-profit founded in 1978 that brings together leaders and practitioners in public financial management from local, state/provincial, and national governments. It facilitates sharing best practices and thought leadership in PFM through biannual conferences, an international journal, surveys, and a speaker series. Membership includes sustaining organizations, organizational members like governments and non-profits, and individual practitioners and specialists.
1) El documento analiza las formas de asistencia estatal y apoyo presupuestario a la economía de Ucrania, incluidos subsidios, exenciones impositivas, garantías estatales y proyectos de inversión.
2) Se describe la Ley de Ucrania sobre la asistencia estatal a entidades comerciales, que establece criterios para evaluar diferentes categorías de asistencia como apoyo a PYMEs, capacitación laboral y desarrollo regional.
3) Los datos muestran que entre 2011-2014, los subsidios y
This document discusses Ukraine's tax reform efforts to support economic development. Key measures of the 2014 tax reform focused on increasing budget revenues through expanding excise taxes and property taxes. Rates for corporate and personal income taxes were also increased. However, the reform also aimed to enhance entrepreneurship by reducing some tax benefits and making the tax system more transparent and efficient to improve the business climate. Overall, the tax changes helped address fiscal consolidation but further reforms are still needed to minimize taxes' negative impact on growth and bring more business out of the shadow economy.
The document summarizes the fiscal policies and transparency initiatives of the Cordoba Province government in Argentina. It discusses efforts to improve transparency through legal reforms, quality management systems, and new technologies. Key policies and programs include joining the Fiscal Responsibility Regime in 2004, passing the Financial Administration Law in 2003, creating regulatory compendiums, and adopting Resolution 364/09 to establish transparency policies. The province also publishes information through its transparency portal, citizen budget, audits, and sustainability reports to encourage public participation in fiscal management.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
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Carlos Santiso
Routledge (2009)
Reviewed by Andy Wynne – andywynne@lineone.net
This book provides a welcome analysis of the role that government auditing can play in the quest
for greater transparency and accountability in the management of public finances across the
Global South. Whilst Carlos Santiso’s detailed analysis is limited to three countries in South
America, his insights will be of great value for all those interested in the role of government
auditing (and as global citizens we should all be in this position).
Carlos examines what he terms autonomous audit agencies in Argentina, Brazil and Chile.
These three countries illustrate the three main models of such agencies – parliamentary or auditor
general; accounts court (cour des comptes); and the Germanic or board. He takes a political
economy approach that addresses the context in which audit agencies are embedded. Reforming
autonomous audit agencies, Carlos concludes, must consider the trajectory of state building, the
role of law in public administration and the quality of governance.
His careful analysis of the key relationship between the audit agency and parliament highlights
the challenges which any of the models may have. Carlos explains this relationship as follows:
[Autonomous audit agencies] are essentially oversight agencies which depend on
accountability institutions to enforce accountability on government. Accountability
institutions are those state powers endowed with the constitutional prerogatives to hold
government to account. In the constitutional model of separation of powers, those
accountability institutions are the legislative and the judiciary (page 57).
As a result, Carlos argues that:
Therefore, a central paradox of [autonomous audit agencies] resides in that their
effectiveness depends both on their independence from government and the efficacy of
their functional linkages with the legislatures and the courts (page 58).
This raises the important issue of who an audit agency should be independent from. Many
commentators merely state that the audit agency should be independent or autonomous to use
Carlos’s term. Carlos considers carefully which institutions the audit agency needs to be free to
criticise without fear of suffering repercussions (line ministries and especially the ministry of
finance), but also those institutions (primarily the legislature) where a positive and constructive
inter-relationship is key to the success of the agency. But even here the relationship may be
complex as it depends on politicians acting in an a-political or selfless manner. Something
which can be incredibly difficult to achieve in many countries!
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2. Due to his choice of countries, Carlos does not consider the added complexities of, for example,
French African countries. Here there are usually two types of audit agencies neither of which
may have strong relationships with their parliaments. The first of these is the traditional French
style accounts court (cour des comptes) whose main role is to try (in a judicial sense) the public
accountants who play such a key role in the French approach to public expenditure management.
The other agency is the general state inspection (inspection générale d'État) which is often
dismissed as not being independent of the executive, as in some countries it is a tool of the
president or prime minister.
However, many other audit agencies do not have adequate independence, for example, an
INTOSAI survey undertaken in 2000 found that of 113 Supreme Audit Institutions around 70
had their primary accountability to parliament whilst in near 40 cases it was to the head of state.
Similarly AFROSAI-E (the regional body for English speaking Africa) found in 2001 that only
5% of their members considered that they had adequate independence. In Botswana, Lesotho and
Zimbabwe the Auditor General’s annual reports are submitted to the Minister of Finance to pass
on to parliament, whilst in Zambia the report is submitted to the president. Similarly, the
Auditors General in Ghana, Nigeria and Tanzania, for example, are appointed by the president of
these countries (as are the heads of most accounts courts, including that in France). Similarly the
president of an accounts court will typically be appointed by the president of the country will
submit their annual report to the president to pass on to parliament.
Six Francophone governments have designated their general inspector of the state as their
Supreme Audit Institution whilst 10 have designated a cour (or chambre) des comptes. Thus the
following are all members of INTOSAI and so are the Supreme Audit Institution for their
countries:
• Burundi - Inspection Générale des Finances
• Cameroun - Contrôle Supérieur de l’Etat
• Centrafrique - Inspection Générale d'État
• Guinée (Conakry) - Inspection Générale d'État
• Mali - Contrôle Générale des Services Publics
• Niger - Contrôle Générale des Services Publics
• Togo - Inspection Générale d'État.
These two types of audit agency, accounts court and general state inspection, may in fact be
complementary. The accounts court concentrates on issues of regularity (especially legality)
whilst the general state inspection may take on a wider role including performance or value for
money audit. With this role it may be thought that the role of the general state inspection would
be welcomed by many reformers who support this move for audit agencies, but in most cases the
general state inspection has been ignored. Carlos shows the great variety of approaches to the
organisation, remit and work of audit agencies. If, as has been shown in practice, it is so difficult
for traditional audit agencies to adopt performance audit, why not establish a second agency with
this specific responsibility.
The distinction between internal and external audit may also be blurred. Carlos points out that
some audit agencies may undertake ex ante compliance control, or pre-audit as it is termed in
many English speaking African countries, where it is the staple work of the internal auditors. In
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3. French speaking African countries the general finance inspection (Inspection Générale des
Finances) is generally considered to be the internal audit function. The general finance
inspection reports to the ministry of finance on the quality of financial management in other
ministries. However, these countries also have the function of the contrôleur financier who
undertakes a similar role to internal audit in Anglophone countries.
Each agency has its own role and several countries have established general state inspections in
recent years (for example, Benin and Djibouti) and Togo is establishing an accounts court in
addition to its general state inspection. Mali has gone further. In 2002, it established a Bureau
du Vérificateur Général (Office of the Auditor General on the Canadian model). This agency
has been created to complement the roles of its existing accounts court and general state
inspection (Contrôle Générale des Services Publics).
Relationships may also change over time, so, for example, Carlos points out the case of Brazil
where:
The logic of external auditing gradually shifted from being an instrument of executive
control of the bureaucracy to becoming an instrument of legislative restraint on the
executive (page 97).
In French African countries this could also occur with a move from the general state inspection
being a mechanism for the president to control of the bureaucracy to the accounts court (or
auditor general) being an instrument of parliaments. With these complexities it is re-assuring
that Carlos believes that his research “does not find a direct correlation between the model of
external audit agency and the effectiveness of external auditing (page 123).
The key findings from his comparative analysis are:
1. Effective autonomous audit agencies improve the credibility of the budget and the quality
of governance.
2. External audit agencies are part of the broader system of checks and balances in
government financial management.
3. Independence is critical to guarantee impartiality, but should not be an end in itself.
4. Shortcomings in government financial accountability reflect deeper dysfunctions in the
relations between external audit agencies and legislatures.
5. External audit systems are in transition, seeking to redefine their role in fiscal control and
their contribution to public management.
This book provides the details of these findings and a wide variety of audit practices, but as
importantly describes how these practices developed over time in conjunction with other public
institutions. As such it is an invaluable source of information for anyone who is involved in the
reform of audit agencies in Latin America or other parts of the world. This will include audit
staff, but also the rest of us as global citizens.
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Richard Allen
IMF Working Paper WP/09/96 (2009)
www.imf.org/external/pubs/ft/wp/2009/wp0996.pdf
Reviewed by Andy Wynne – andywynne@lineone.net
Some staff with the World Bank, IMF and other donors are taking slow steps in re-assessing the
effectiveness of their dominant prescriptions for public sector financial management over the last
decade. This has often included large scale mega-reforms such as a Medium Term Expenditure
Framework (MTEF), an Integrated Financial Management Information System (IFMIS) and
decentralisation.
Richard Allen has been part of this process from the beginning. In this paper he now recognises
that the development of sound budgetary institutions in countries such as France, the U.K. and
the U.S. has taken a very long time 200 years or more and is still evolving. Institutional
reform is also likely to be very slow in developing countries since the budget is especially prone
to rent-seeking influences. This paper discusses the currently fashionable emphasis on complex,
multiannual PFM reform strategies, which have been strongly promoted by the donor
community; and advocates a simpler approach grounded on Schick’s important principle of
“getting the basics right.”
Richard’s conclusions are first, reforming public financial management is a frustratingly slow
business. In developing countries, the progress of modernizing budgetary institutions needs to be
measured in small steps. Major reforms such as introducing a new treasury system or a medium-
term budget framework can take a decade or longer. Second, governments, donors and
multilateral institutions almost always underestimate the difficulties and challenges, and
overestimate the capacity of government to deliver reforms. They fail to learn from the lessons of
the past.
Whilst not criticising his own institution (the IMF) directly he has some trenchant views on
technical aid to governments in the Global South. Many technical aid providers, Richards says,
have a vested interest in maintaining existing approaches and instruments. Developing countries
should not be regarded as a laboratory or playground for the donors. Fresh thinking is required
but there is not much incentive for change since technical aid providers are not sufficiently held
to account for the imperfections of the models they use, and the advice they offer.
Other examples of similar hard hitting criticisms over the last year are Salvatore Schiavo-Campo
(see http://blog-pfm.imf.org/pfmblog/files/MTEFpaperFinal.doc) and Bill Dorotinsky on the
ICGFM Blog (see http://icgfm.blogspot.com/2008/12/public-financial-management-reform.html ).
The global recession appears to have provided a welcome space for those who do not accept the
current orthodoxy. Such criticism is necessary to try and increase the degree of success with
public financial management reforms. It is hoped that the current upturn does not end this
opportunity. The lessons of Richard’s paper are important and need to impact directly on reform
plans in many countries.
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Carole Pretorius Nico Pretorius
DFID Evaluation Working Paper EV698 (2008)
http://www.sida.se/sida/jsp/sida.jsp?d=118a=45381language=en_US
Reviewed by Andy Wynne – andywynne@lineone.net
This review of literature on experience with Public Financial Management Reform was
commissioned by DFID on behalf of the Dutch Ministry of Foreign Affairs, the
Swedish International Development Cooperation Agency (Sida), the Canadian International
Development Agency (CIDA) and the African Development Bank (AfDB). It aims to synthesise
the main theoretical approaches and findings from evaluations of PFM reform programmes, and
to identify knowledge gaps. The literature reviewed includes academic and technical articles,
development practitioner guides, manuals, handbooks and websites.
The review seeks to address two sets of information: an overview of models and approaches, and
a review of reform experience. It did not prove possible to relate reform experience to the models
presented, which represents a significant shortcoming in our understanding of PFM reform. In
reality, the links between theoretical and practical approaches are weak – in the case of the newer
approaches, reform experience has pre-dated the models, and indeed informed their
development. The evaluations reviewed here did not make use of theoretical models to inform
their evaluation frameworks. It would therefore contribute to the PFM evaluation literature if the
forthcoming evaluation was to base its design framework explicitly on recent theoretical models,
and our understanding of the institutional basis of each model.
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Paolo de Renzio
Overseas Development Institute Working Paper 302 (2009)
http://www.odi.org.uk/resources/download/3333.pdf
Reviewed by Andy Wynne – andywynne@lineone.net
The Public Financial Management (PFM) Performance Measurement Framework, an indicator-
based assessment tool developed by the Public Expenditure and Financial Accountability
(PEFA) initiative, was launched in 2005 and has been applied so far in over 60 countries. PEFA
reports provide detailed accounts of the performance of PFM systems along various dimensions.
This paper is based on the results of the 57 PEFA assessments completed as of August 2007. It
looks at comparative cross-country PFM performance, overall and across the different budget
dimensions defined by the PEFA methodology (out-turns, cross-cutting features, budget cycle),
and analyses differences linked to certain country characteristics which might have an influence
over PFM system performance, using both bivariate and multivariate analysis. It is based on a
numerical conversion of the letter-scores used in the assessments, a methodology which can be
considered controversial but which nevertheless yields some interesting results.
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Sarah Glynn (Editor)
Pluto Press (2009)
Reviewed by Stewart Smyth - s.smyth@dcu.ie
In a similar manner to they way the current economic crisis (with its asset bubble, pyramid
schemes and banks being bailed-out) reminds us of past economic crises stretching back over the
past century and a half, this collection of essays shows how the clock has been turned back on
the housing needs of the poorest in our world. Neoliberalism has attempted (and in many ways
succeeded) in returning housing for the poor to the era when the deserving poor received basic
homes and the rest were left to rot. Years of under-funding and neoliberal policies have lead to
the residualisation of what was once a tenure of first choice for many and an important
expression of collective solidarity in many societies. However, all is not just despair partly
because of the framework Sarah Glynn adopts and more importantly the actions of tenants
groups and housing activists, there is hope that is captured in this book.
Glynn’s framework brings together two aspects of the research on social housing. Firstly, she
adopts David Harvey’s work on neoliberalism as the guiding framework in which to explain the
reforms that social housing has been subjected to over the last 30 years. Central to this
framework is an understanding that the neoliberal project has sought to shift power and wealth
from the poorest in our society to the richest. This process though is laden with contradictions,
not least of which is the resistance generated by social movements and housing activists to
changes in social housing. Secondly, the framework is then utilised in a series of chapters by
other contributors, to analyse and explain the changes to social housing in a number of different
countries. The outcome of which is a comprehensive assessment of the impact of neoliberalism
on a key human need across several national boundaries.
In the first three chapters, Glynn develops a framework within which to analyse the changes in
recent decades to social housing. Largely based on the UK Glynn’s arguments develop along
three strands. Firstly, there is a historical look at social housing throughout the 20th century. Two
important factors are highlighted that remain pertinent today – those in charge have only invested
in social housing building as a respond to movements (or the threat of) from below and, secondly
despite this pressure UK (and other) governments have only ever seen social housing as an
expedient, rather than integral service central to the welfare state. Secondly, Glynn sets the
housing policies of the last thirty years in the context of the rise of neoliberalism. Glynn
illustrates how Harvey’s formulation, that neoliberalism’s achievement “has been to redistribute,
rather than to generate, wealth and income” in favour of the rich and powerful and at the expense
of the poor, has been achieved in social housing. Central to this process has been the
commodification of the social housing stock through privatisations (e.g. PFIs and stock transfers)
and the introduction of the tenants’ right-to-buy schemes. Glynn shows how this has benefited
speculation from a new breed of “investors” and growing corporate organisations (such as
housing associations) that buy up former municipal housing on the cheap. In the process, the best
quality public housing has been taken into private hands leaving a residual stock of often the
poorest estates in the worse physical conditions. At this point, the third strand appears;
gentrification through regeneration. Thus, central government has reduced social housing to a
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7. residual service, often with the active support of local government bodies, who now come along
with plans to regenerate areas based on notions of housing market failure. Local residents are
moved out, those who may have bought their own homes are forced out by the use of
compulsory purchase orders (CPOs). The area (often in a prime location), is then handed over to
a private development scheme who have only minimal responsibilities placed on them to provide
social housing, which can in any case often be avoided through payments to the local authority.
Meanwhile the original tenants have no right of return.
It is this process of gentrification through regeneration that many find particularly invidious and
has become a front on which campaigners and academics has engaged. For example, Chris Allen
has documented the regeneration of housing in Liverpool in lead up to the “City of Culture” in
2008. In an echo of the Engels’ description of the attitudes of wealthy in Manchester in the
1840s, Allen reports a senior housing renewal manager in Liverpool commented “people driving
into the city must have a more pleasant outlook than the one that is currently there”. Thus
through the euphemisms of housing market failure and regeneration working class communities
are disbursed and private developers gain access to prime land.
Having established a framework centred around the neoliberal agenda the middle chapters apply
it to the circumstances in different economies. What quickly becomes apparent is that though
different countries all have different starting points and there are also subtle differences in the
way neoliberal reforms are pursued, the direction of travel is the same for all. Thus, two inter-
related neoliberal processes – the rolling back of the state and the rolling out of neoliberal
provision – are evident in the case studies of countries with such differing welfare traditions as
Sweden and the USA. A second point is also highlighted in the manner in which this dual
process is pursued by governments, who will attempt to divide tenants groups thus reducing
effective opposition; play on pessimism by arguing there is no alternative, and reduce the cause
of “problem estates” to one of “faulty design” thus ignoring all other socio-economic factors
such as poverty, cuts in provision and racism. There is little or no open discussion of policy
consequences (e.g. the impact on existing communities of regeneration); there is almost no
control of the regeneration processes by local communities and existing tenants (the one
exception to this is the requirement for a tenants’ ballot before municipal housing in the UK can
privatised). The language often used by policy-makers and others is drawn from the Orwellian
school of “newspeak”, as forcefully argued in the case study on the USA. In this respect, sections
of academia have been complicit, as the furore over Chris Allen’s work shows. Allen has
accused academics of imposing middle class values onto working class communities and not
understanding (either through ignorance or deliberate avoidance) the nature of those
communities.
Despite all the foregoing, the book is not left on a pessimistic note. After the case studies, Glynn
contributes the final two chapters charting the history of housing campaigns (mainly in Britain)
and the prospects for a revival of social housing. Glynn locates social housing policy as an
outcome of both campaigns over housing and broader class struggles. These campaigns come in
different forms such as the court cases against the use of CPOs or the refusal of locally elected
politicians to implement central government policies. Housing campaigns come in a variety of
forms from the direct action of the post-war squatters to Les Enfants de Don Quichotte tent
encampments set up in French cities in 2006-07 to highlight the plight of the homeless. Or the
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8. Defend Council Housing (DCH) campaign in Britain that has brought together tenant activists
and groups, politicians and trade unions to campaign against the privatisation of municipal
housing and in favour of increased funding for this tenure. The variety of forms of resistance
raises the question of which strategy and tactics should be adopted. Here Glynn does state her
position in favour of organising campaigns from below and to link the question of housing to
broader issues. However, this is argued in a rather abstracted manner and deserves a more
detailed consideration.
One other small criticism concerns the focus on developed economies in the case studies.
Readers of this journal in particular will note the absence of the experience of housing activists
in developing and poor countries. However, this could be rectified in a subsequent volume. That
said, “Where the other half lives” strengths far outweigh these weaknesses and the book
represents an important contribution to the literature on the impacts of neoliberalism on housing
the poorest. As such, its audience is not just those involved in housing but anybody looking for
an alternative to the current neoliberal hegemony.
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