Project Number : 46539-001 Status : Active Approved Amount (thousand) : US$ 500 Country : Regional Sector/subsector classification: Public sector management/ Public expenditure and fiscal management Article 14(xi) of the agreement establishing the asian development bank (the charter) requires adb to take necessary measures to ensure that the proceeds of any loan made, guaranteed, or participated in by adb are used only for the purposes for which the loan was granted and with due attention to considerations of economy and efficiency. in addition, article 14(xiv) of the charter requires adb to be guided by sound banking principles in its operations. to fulfill these requirements of the charter, adb requires borrowers to annually submit annual audited project financial statements (apfs), and where applicable an independent entity s audited financial statements (afs). adb requires that borrowers~ financial management and reporting systems to be adequate to generate reliable financial data relevant to each adb financed operations, including the review and audit thereof. however, the bank continues to experience noncompliance with the timely submission of apfs and afs by many of its executing agencies (eas)/implementing agencies (ias). even when apfs are submitted, they do not generally meet adb s requirements or of quality for public scrutiny. to alleviate the situation, adb needs to assist eas/ias of bank-financed projects in reducing the incident of non-submissions or late submissions of apfs and the submission is as of adequate standards. this regional capacity development technical assistance (the ta) seeks to strengthen project financial reporting, auditing and eas/ias accounting operations in pakistan and afghanistan.
Project completion date : 2015-06-17 12:00:00
Major organization : ASIAN DEVELOPMENT BANK (ADB)
Address : 6 ADB Avenue, Mandaluyong City 1550, Philippineshttp://www.adb.org/ Central and West Asia Department Portfolio, Results, Safeguards and Social Sector Unit, CWRD Attn: Diep Ngoc Thi Pham (firstname.lastname@example.org)
Financier : Asian Development Bank (ADB)