FYR Macedonia : Country Financial Accountability Assessment

This Country Financial Accountability Assessment (CFAA) reviewed the Government of Macedonia's public expenditure management system, to identify major fiduciary risks of financial management and control. The report builds upon previous in-dept...

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Main Author:	World Bank
Format:	Country Financial Accountability Assessment
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING POLICIES ACCOUNTS ANNUAL REPORT AUDITING AUDITORS AUDITS BORROWING BUDGET DEFICIT BUDGET EXECUTION BUDGET FORMULATION BUDGET MANAGEMENT BUDGET REVENUES BUDGET TRANSFERS BUDGETARY FUNDS BUDGETING CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE CONSOLIDATION CORRUPTION DECENTRALIZATION DIVIDEND POLICY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC RECOVERY EMPLOYMENT EXECUTION EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL PERFORMANCE FINANCIAL SECTORS FISCAL FISCAL DEFICITS FISCAL DISCIPLINE FISCAL GAP FISCAL RESTRUCTURING GOVERNMENT ACTION GOVERNMENT REVENUES GOVERNMENT'S BUDGET HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCES INFLATION INSURANCE INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROLS LAWS LEGAL PROVISIONS LEGISLATION LOCAL SELF GOVERNMENTS MANAGERS MINISTERS PRIVATE SECTOR PRIVATIZATION PRIVATIZATION AGENCY PROCUREMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE REPORTING REPORTING SYSTEMS REVENUE COLLECTION SOCIAL POLICIES SOCIAL PROTECTION SUBSIDIARITY PRINCIPLE TAX TECHNICAL ASSISTANCE TRANSPARENCY TREASURY TREASURY OPERATIONS UNDISTRIBUTED PROFITS UNEMPLOYMENT VIOLENCE PUBLIC SECTOR MANAGEMENT FINANCIAL ADMINISTRATION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT STATE-OWNED ENTERPRISES EXTERNAL AUDITORS STRATEGIC COORDINATION MECHANISMS BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INSTITUTIONAL FRAMEWORK RISK ASSESSMENT RISK MANAGEMENT
Online Access:	http://documents.worldbank.org/curated/en/2004/03/3160002/macedonia-country-financial-accountability-assessment http://hdl.handle.net/10986/14592

id	okr-10986-14592
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING POLICIES ACCOUNTS ANNUAL REPORT AUDITING AUDITORS AUDITS BORROWING BUDGET DEFICIT BUDGET EXECUTION BUDGET FORMULATION BUDGET MANAGEMENT BUDGET REVENUES BUDGET TRANSFERS BUDGETARY FUNDS BUDGETING CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE CONSOLIDATION CORRUPTION DECENTRALIZATION DIVIDEND POLICY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC RECOVERY EMPLOYMENT EXECUTION EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL PERFORMANCE FINANCIAL SECTORS FISCAL FISCAL DEFICITS FISCAL DISCIPLINE FISCAL GAP FISCAL RESTRUCTURING GOVERNMENT ACTION GOVERNMENT REVENUES GOVERNMENT'S BUDGET HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCES INFLATION INSURANCE INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROLS LAWS LEGAL PROVISIONS LEGISLATION LOCAL SELF GOVERNMENTS MANAGERS MINISTERS PRIVATE SECTOR PRIVATIZATION PRIVATIZATION AGENCY PROCUREMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE REPORTING REPORTING SYSTEMS REVENUE COLLECTION SOCIAL POLICIES SOCIAL PROTECTION SUBSIDIARITY PRINCIPLE TAX TECHNICAL ASSISTANCE TRANSPARENCY TREASURY TREASURY OPERATIONS UNDISTRIBUTED PROFITS UNEMPLOYMENT VIOLENCE PUBLIC SECTOR MANAGEMENT FINANCIAL ADMINISTRATION BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT STATE-OWNED ENTERPRISES EXTERNAL AUDITORS STRATEGIC COORDINATION MECHANISMS BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING AUDITING INSTITUTIONAL FRAMEWORK RISK ASSESSMENT RISK MANAGEMENT
spellingShingle	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING POLICIES ACCOUNTS ANNUAL REPORT AUDITING AUDITORS AUDITS BORROWING BUDGET DEFICIT BUDGET EXECUTION BUDGET FORMULATION BUDGET MANAGEMENT BUDGET REVENUES BUDGET TRANSFERS BUDGETARY FUNDS BUDGETING CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE CONSOLIDATION CORRUPTION DECENTRALIZATION DIVIDEND POLICY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC RECOVERY EMPLOYMENT EXECUTION EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL PERFORMANCE FINANCIAL SECTORS FISCAL FISCAL DEFICITS FISCAL DISCIPLINE FISCAL GAP FISCAL RESTRUCTURING GOVERNMENT ACTION GOVERNMENT REVENUES GOVERNMENT'S BUDGET HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCES INFLATION INSURANCE INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROLS LAWS LEGAL PROVISIONS LEGISLATION LOCAL SELF GOVERNMENTS MANAGERS MINISTERS PRIVATE SECTOR PRIVATIZATION PRIVATIZATION AGENCY PROCUREMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE REPORTING REPORTING SYSTEMS REVENUE COLLECTION SOCIAL POLICIES SOCIAL PROTECTION SUBSIDIARITY PRINCIPLE TAX TECHNICAL ASSISTANCE TRANSPARENCY TREASURY TREASURY OPERATIONS UNDISTRIBUTED PROFITS UNEMPLOYMENT VIOLENCE PUBLIC SECTOR MANAGEMENT FINANCIAL ADMINISTRATION BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT STATE-OWNED ENTERPRISES EXTERNAL AUDITORS STRATEGIC COORDINATION MECHANISMS BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING AUDITING INSTITUTIONAL FRAMEWORK RISK ASSESSMENT RISK MANAGEMENT World Bank FYR Macedonia : Country Financial Accountability Assessment
geographic_facet	Europe and Central Asia Macedonia, former Yugoslav Republic of North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)
description	This Country Financial Accountability Assessment (CFAA) reviewed the Government of Macedonia's public expenditure management system, to identify major fiduciary risks of financial management and control. The report builds upon previous in-depth work, conducted by the Bank, and focuses on identifying areas of control risk, and making specific short- and medium-term recommendations to mitigate them. Although significant progress has been made in response to previous recommendations, much remains to be done. The report notes that a significant number of public entities operate outside of budget controls: in 2002, 40 percent of spending by the central government was conducted by extra-budgetary funds (EBFs) that are not fully integrated into the government's budgetary control and reporting processes. The government should take immediate steps to strengthen the governance structures over its EBFs, and implement its plans to bring the EBFs fully into the budget. The Ministry of Finance (MOF) should also establish appropriate oversight over all other entities outside the budget, and formalize its relationships with its public enterprises. An internal audit must be implemented across Government. This is a serious shortcoming: internal audit is an essential component of a well-functioning internal control system that covers all of the government's revenues and expenditures. The State Audit Office's role, resources, and technical capacities must be strengthened, for as an external audit, it is another critical component in the internal control of government revenues and expenditures. The MOF should prepare a strategic plan to enable the management of significant changes that it faces over the next five years, and to set priorities for the various strategies that it must implement. The global fiduciary risk assessment presented, given the current state of public financial management in Macedonia, is assessed as moderate.
format	Economic & Sector Work :: Country Financial Accountability Assessment
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	FYR Macedonia : Country Financial Accountability Assessment
title_short	FYR Macedonia : Country Financial Accountability Assessment
title_full	FYR Macedonia : Country Financial Accountability Assessment
title_fullStr	FYR Macedonia : Country Financial Accountability Assessment
title_full_unstemmed	FYR Macedonia : Country Financial Accountability Assessment
title_sort	fyr macedonia : country financial accountability assessment
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2004/03/3160002/macedonia-country-financial-accountability-assessment http://hdl.handle.net/10986/14592
_version_	1764428255279972352
spelling	okr-10986-145922021-04-23T14:03:17Z FYR Macedonia : Country Financial Accountability Assessment World Bank ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING POLICIES ACCOUNTS ANNUAL REPORT AUDITING AUDITORS AUDITS BORROWING BUDGET DEFICIT BUDGET EXECUTION BUDGET FORMULATION BUDGET MANAGEMENT BUDGET REVENUES BUDGET TRANSFERS BUDGETARY FUNDS BUDGETING CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE CONSOLIDATION CORRUPTION DECENTRALIZATION DIVIDEND POLICY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC RECOVERY EMPLOYMENT EXECUTION EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL CONTROL FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL PERFORMANCE FINANCIAL SECTORS FISCAL FISCAL DEFICITS FISCAL DISCIPLINE FISCAL GAP FISCAL RESTRUCTURING GOVERNMENT ACTION GOVERNMENT REVENUES GOVERNMENT'S BUDGET HUMAN CAPITAL HUMAN RESOURCE HUMAN RESOURCES INFLATION INSURANCE INTERNAL AUDIT INTERNAL AUDITING INTERNAL CONTROLS LAWS LEGAL PROVISIONS LEGISLATION LOCAL SELF GOVERNMENTS MANAGERS MINISTERS PRIVATE SECTOR PRIVATIZATION PRIVATIZATION AGENCY PROCUREMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC FINANCE PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SERVICE REPORTING REPORTING SYSTEMS REVENUE COLLECTION SOCIAL POLICIES SOCIAL PROTECTION SUBSIDIARITY PRINCIPLE TAX TECHNICAL ASSISTANCE TRANSPARENCY TREASURY TREASURY OPERATIONS UNDISTRIBUTED PROFITS UNEMPLOYMENT VIOLENCE PUBLIC SECTOR MANAGEMENT FINANCIAL ADMINISTRATION BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES LEGAL & REGULATORY FRAMEWORK LAW ENFORCEMENT FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT STATE-OWNED ENTERPRISES EXTERNAL AUDITORS STRATEGIC COORDINATION MECHANISMS BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING AUDITING INSTITUTIONAL FRAMEWORK RISK ASSESSMENT RISK MANAGEMENT This Country Financial Accountability Assessment (CFAA) reviewed the Government of Macedonia's public expenditure management system, to identify major fiduciary risks of financial management and control. The report builds upon previous in-depth work, conducted by the Bank, and focuses on identifying areas of control risk, and making specific short- and medium-term recommendations to mitigate them. Although significant progress has been made in response to previous recommendations, much remains to be done. The report notes that a significant number of public entities operate outside of budget controls: in 2002, 40 percent of spending by the central government was conducted by extra-budgetary funds (EBFs) that are not fully integrated into the government's budgetary control and reporting processes. The government should take immediate steps to strengthen the governance structures over its EBFs, and implement its plans to bring the EBFs fully into the budget. The Ministry of Finance (MOF) should also establish appropriate oversight over all other entities outside the budget, and formalize its relationships with its public enterprises. An internal audit must be implemented across Government. This is a serious shortcoming: internal audit is an essential component of a well-functioning internal control system that covers all of the government's revenues and expenditures. The State Audit Office's role, resources, and technical capacities must be strengthened, for as an external audit, it is another critical component in the internal control of government revenues and expenditures. The MOF should prepare a strategic plan to enable the management of significant changes that it faces over the next five years, and to set priorities for the various strategies that it must implement. The global fiduciary risk assessment presented, given the current state of public financial management in Macedonia, is assessed as moderate. 2013-07-25T15:42:25Z 2013-07-25T15:42:25Z 2004-03-11 http://documents.worldbank.org/curated/en/2004/03/3160002/macedonia-country-financial-accountability-assessment http://hdl.handle.net/10986/14592 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Financial Accountability Assessment Economic & Sector Work Europe and Central Asia Macedonia, former Yugoslav Republic of North Macedonia (Formerly the Former Yugoslav Republic of Macedonia)

FYR Macedonia : Country Financial Accountability Assessment

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