Financial Management and Governance Issues in Selected Developing Member Countries ; Financial Management and Governance Issues

Abstract

ADB is committed to helping governments and other institutions within its developing member countries to improve financial management and governance. To be able to effectively provide this assistance, ADB needs to understand the accounting and auditing arrangements that currently exist in each country. To get this understanding, Regional Technical Assistance – Strengthening Financial Management and Governance in Selected Developing Member Countries – was approved by the Management to carry out diagnostic work in seven developing member countries: Cambodia, People's Republic of China, Mongolia, Pakistan, Papua New Guinea, Uzbekistan, and Viet Nam. These seven countries represented a cross-section of developing member countries.The study, which this report summarizes, was conducted between April and November 2000 in consultation with other donor agencies, governments, accounting and auditing professions. The study identified gaps and weaknesses in the current accounting and auditing infrastructure of the seven countries and came up with recommendations and an action plan to remedy the identified weaknesses. To assess the requirements for all ADB developing member countries will take time. This regional study was the first step towards this end.