Bhutan - Public Financial Management Accountability Assessment

This summary assessment uses indicator-led analysis to provide an integrated assessment of the Public Financial Management (PFM) system which draws on international standards developed by various development partners. The purpose is to measure PFM performance across a wide range of development over time. The Public Expenditure and Financial Accountability (PEFA) methodology includes the best conditions that some Organization for Economic cooperation and Development (OECD) countries demonstrate and in this assessment it is important to consider the Bhutanese context, that it is a small country, traditionally with an agricultural base society with relatively lesser industry and commerce. It is unable to support a financial sector infrastructure in terms of accountancy and audit standard setting and the availability of international standards is of great assistance. The 31 indicators for the PFM system focus on the basic qualities of a PFM system operating to existing good international practices, and assessments are classified A (excellent), B (good), C (opportunities for some improvement) and D (in need of substantial improvement in some areas or information not available for the assessment). Each indicator may have 1-4 dimensions each of which is assessed independently. The overall score for the indicator is based on the scores for the constituent dimensions in accordance with scoring rules established in the PEFA PFM framework document. In some circumstances a plus sign is added where the indicator takes on the score of the lowest scoring dimension but other dimensions have higher scores.

Bibliographic Details

Main Author:	World Bank
Language:	English
Published:	World Bank 2010-06-01
Subjects:	ACCESS TO SAFE WATER, ACCOUNTABILITY, ACCOUNTING, ACCOUNTING SYSTEM, AGGREGATE EXPENDITURE, AGGREGATE FISCAL, AGGREGATE FISCAL DISCIPLINE, AGGREGATE REVENUE, ALLOCATION OF BUDGET RESOURCES, ANNUAL BUDGET, ANNUAL BUDGET PROCESS, ANNUAL FINANCIAL STATEMENTS, ANNUAL REPORT, ANNUAL REPORTING, ARTICLE, ASSESSMENT PROCESS, AUDITOR GENERAL, AUDITORS, BALANCE OF PAYMENTS, BUDGET ALLOCATIONS, BUDGET COMPREHENSIVENESS, BUDGET CREDIBILITY, BUDGET CYCLE, BUDGET DEVELOPMENT, BUDGET DOCUMENTATION, BUDGET EXECUTION, BUDGET EXPENDITURE, BUDGET LAW, BUDGET OUTCOMES, BUDGET POLICY, BUDGET PREPARATION, BUDGET PROPOSAL, BUDGET REPORT, BUDGET REVIEW, BUDGET SUPPORT, BUDGET TRANSFERS, BUDGETARY ALLOCATIONS, BUDGETARY OUTCOMES, BUDGETARY SYSTEM, CAPACITY BUILDING, CAPITAL EXPENDITURE, CAPITAL EXPENDITURES, CAPITAL PROJECTS, CAPITAL SPENDING, CASH BALANCES, CASH BASIS, CASH FLOW, CASH MANAGEMENT, CASH POSITION, CENTRAL AGENCIES, CENTRAL BANK, CENTRAL BUDGETING, CENTRAL GOVERNMENT, CIVIL SERVANTS, CIVIL SERVICE, CORPORATE INCOME TAX, CORPORATION INCOME TAX, DEBT, DEBT MANAGEMENT, DEBT SERVICE, DEBT SUSTAINABILITY, DECENTRALIZATION, DEMOCRATIC SYSTEM, DOMESTIC REVENUE, DONOR COORDINATION, ECONOMIC GROWTH, ECONOMIC POLICY, ECONOMIC STABILITY, EXPENDITURE MANAGEMENT SYSTEM, EXPENDITURE POLICY, EXPENDITURES, EXTERNAL ASSISTANCE, EXTERNAL AUDIT, EXTERNAL DEBT, FINANCE MINISTRY, FINANCIAL ACCOUNTABILITY, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT INFORMATION, FINANCIAL MANAGEMENT INFORMATION SYSTEM, FINANCIAL POSITION, FINANCIAL SECTOR, FINANCIAL STATEMENT, FISCAL BALANCE, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL FRAMEWORK, FISCAL IMPLICATIONS, FISCAL INFORMATION, FISCAL POLICY, FISCAL POSITION, FISCAL REPORTING, FISCAL RISK, FISCAL RISKS, FISCAL TRANSPARENCY, FISCAL YEARS, GOVERNMENT ACCOUNTING, GOVERNMENT BUDGET, GOVERNMENT BUDGET MANAGEMENT, GOVERNMENT EXPENDITURES, GOVERNMENT FINANCE, GOVERNMENT FINANCE STATISTICS, GOVERNMENT FUNDING, GOVERNMENT POLICY, GOVERNMENT PRIORITIES, GOVERNMENT REVENUE, GOVERNMENTAL FISCAL RELATIONS, GROSS DOMESTIC PRODUCT, HEALTH SERVICES, INCOME TAX, INFLATION, INFORMATION FLOWS, INTERNAL AUDIT, INTERNAL CONTROL, INTERNAL CONTROLS, LEGISLATIVE SCRUTINY, LOCAL GOVERNMENT BUDGETS, LOCAL REVENUE, LOCAL TAXES, MEASURED PERFORMANCE, MEDIUM TERM EXPENDITURE, MEDIUM TERM EXPENDITURE FRAMEWORKS, MINISTRY OF FINANCE, NATIONAL BUDGET, NATIONAL DEBT, NATIONAL GOVERNMENT, NATIONAL INCOME, NATIONAL STATISTICS, OUTCOME INFORMATION, PERFORMANCE AUDIT, PERFORMANCE INDICATOR, PERFORMANCE MEASUREMENT, PERSONAL INCOME, PERSONAL INCOME TAX, POVERTY REDUCTION, POVERTY REDUCTION STRATEGY, PRIVATE ENTERPRISES, PRIVATE SECTOR, PRIVATE SECTOR GROWTH, PROCUREMENT FUNCTION, PROCUREMENT POLICY, PROCUREMENT SYSTEMS, PROGRAMS, PUBLIC ACCOUNTS, PUBLIC ADMINISTRATION, PUBLIC CORPORATION, PUBLIC DEBT, PUBLIC ENTERPRISE, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC FINANCE, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FINANCIAL MANAGEMENT SYSTEM, PUBLIC INTEREST, PUBLIC MONEY, PUBLIC PROCUREMENT, PUBLIC RESOURCES, PUBLIC SECTOR, PUBLIC SECTOR ACCOUNTING, PUBLIC SECTOR ENTITIES, PUBLIC SERVICE, PUBLIC SERVICES, PUBLIC SPENDING, QUALITY OF LIFE, QUALITY STANDARDS, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, REFORM PROCESS, REFORM PROCESSES, REFORM PROGRAM, REFORM STRATEGY, REGULATORY FRAMEWORK, ROAD NETWORK, SALES TAX, SALES TAX SYSTEM, SELF-ASSESSMENT, SERVICE DELIVERY, SOCIAL INDICATORS, SOCIAL SERVICES, STATE ENTERPRISES, STRATEGIC ALLOCATION, STRATEGIC ALLOCATION OF RESOURCES, SUPREME AUDIT INSTITUTION, SUPREME AUDIT INSTITUTIONS, SUSTAINABILITY ANALYSIS, TAX ADMINISTRATION, TAX BASE, TAX PAYMENTS, TAX RATES, TAX REVENUE, TAX REVENUES, TOTAL EXPENDITURE, TRANSPARENCY, UNFUNDED LIABILITIES,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110328002252 https://hdl.handle.net/10986/2973
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