Moldova : Country Financial Accountability Assessment

The overall conclusion of this report is that despite some progress in improving public financial management, the financial accountability framework in Moldova is weak and requires substantial strengthening. This has important implications for both...

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Bibliographic Details
Main Author:	World Bank
Format:	Country Financial Accountability Assessment
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING RECORDS ACCOUNTING STANDARDS ACCOUNTS AUDITING AUDITING STANDARDS AUDITORS AUDITS AUTHORITY AUTONOMOUS AGENCY BANKING SECTOR BUDGET ESTIMATES BUDGET EXECUTION BUDGET EXPENDITURES BUDGET FORMULATION BUDGET PROCESS BUDGET REVENUES BUDGET SYSTEM BUDGET TRANSFERS BUDGETARY EXPENDITURES BUDGETARY FUNDS BUDGETARY RESOURCES BUSINESS ASSOCIATIONS CASH MANAGEMENT CENTRAL BANKS CENTRAL GOVERNMENT CITIZENS CIVIL SERVICE CONSOLIDATED FINANCIAL STATEMENTS CONSTITUTION CORRUPTION DEBT DEBT MANAGEMENT DEBT SERVICE DECISION MAKING DECREE DEMOCRACY EBF ECONOMIC GROWTH ECONOMIC PERFORMANCE ELECTORAL SYSTEM EXECUTION EXPENDITURE EXTRA BUDGETARY FUNDS FINANCIAL ACCOUNTABILITY FINANCIAL ANALYSIS FINANCIAL CONTROL FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL PLAN FINANCIAL PLANS FINANCIAL REPORTING FINANCIAL REPORTING STANDARDS FISCAL FISCAL POLICY FISCAL REFORM FISCAL YEAR GOVERNMENT BUDGETS GOVERNMENT DECISION GOVERNMENT LEVEL GOVERNMENT SERVICES GOVERNMENTAL ORGANIZATION INSTITUTIONAL CAPACITY INSTITUTIONAL CONSTRAINTS INSTITUTIONAL FRAMEWORK INTERNAL AUDIT INTERNATIONAL ACCOUNTING STANDARDS LAWS LEGISLATION LOBBYING LOCAL GOVERNMENT LOCAL GOVERNMENT AUTHORITIES LOCAL GOVERNMENT BUDGETS LOCAL GOVERNMENT INSTITUTIONS LOCAL GOVERNMENTS LOCAL PUBLIC ADMINISTRATION MANAGEMENT MINISTRY OF FINANCE MUNICIPALITIES MUNICIPALITY NATIONAL BUDGET NATURAL RESOURCES PENSIONS POLITICAL CONSENSUS POLITICAL INSTABILITY POLITICIANS PRIME MINISTERS PRIVATE SECTOR PRIVATIZATION PROCUREMENT PROGRAM BUDGETING PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURES PUBLIC FUNDS PUBLIC INSTITUTIONS PUBLIC POLICY PUBLIC RESOURCES PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR REFORM REPRESENTATIVES RESOURCE ALLOCATION REVENUE AUTHORITIES SOCIAL ASSISTANCE SOCIAL INSURANCE SOCIAL PROTECTION STATE AGENCIES STATE BUDGET STATE FUNDS STATE OWNED ENTERPRISES STATUTORY AUDITORS STRUCTURAL ADJUSTMENT STRUCTURE OF GOVERNMENT TAX TECHNICAL ASSISTANCE THE NATIONAL BANK OF MOLDOVA TRADE UNIONS TRANSPARENCY TREASURY FINANCIAL ACCOUNTABILITY PUBLIC FINANCE MANAGEMENT ACCOUNTABILITY IN GOVERNANCE DEVELOPMENT ACTION PLANS SECTOR REVIEWS GOVERNANCE POLICIES REFORM STRATEGIES
Online Access:	http://documents.worldbank.org/curated/en/2003/09/2824701/moldova-country-financial-accountability-assessment http://hdl.handle.net/10986/14604

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Summary:	The overall conclusion of this report is that despite some progress in improving public financial management, the financial accountability framework in Moldova is weak and requires substantial strengthening. This has important implications for both the Government and the Bank: the Government will need to make a significant effort over a long period of time to attend the issues identified within this report; and the Bank cannot rely on the Moldovan financial accountability framework to ensure that funds are spent for intended purposes, but rather the Bank will need to review and assess each operation's financial management risks and arrangements on its own merit. It would be unrealistic and impractical for the authorities to try to simultaneously address the many recommendations in this report. The Development Action Plan (DAP) lists and prioritizes the main recommendations of this CFAA. The overall responsibility for the implementation of the DAP rests with the Ministry of Finance however the Ministry of Economy, the Ministry of Labor, the Court of Accounts and the National Bank of Moldova also play significant roles. The DAP was endorsed by the National Steering Committee that was formed specifically for the purpose of this CFAA. The Board endorsed the CAS Progress Report in June 2002, which provided emphasis in public sector reforms and improving governance. The Government confirmed its commitment for strengthening governance by adopting a comprehensive public sector reform strategy. The strategy comprises three elements: (i) public administration reform; (ii) public expenditure management; and (iii) public/private interface. The CAS Progress Report recognized that Government has made significant progress in streamlining and improving public expenditure management, especially in the areas of budget execution, cash management, and debt management.

Moldova : Country Financial Accountability Assessment

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