Republic of Lebanon : Country Financial Accountability Assessment

This CFAA aims to propose pragmatic and feasible solutions to problem areas in the current environment. The recommendations are presented in Appendix 8 to this report, and the key recommendations that are designed to address the areas of greatest fiduciary risk for the Government are summarized in this Executive Summary. These key recommendations are designed to assist the Government in improving the Lebanese public financial management system and provide the foundation to all the donors to move towards greater use of the country system. One of the CFAA's overall themes is that the Government must continue to work to develop a unified budget framework that enables proper management of the finances of the Government, in collaboration with the Bank and the IMF. This would assist the Government to better control public sector debt, revenues and expenditures, maintain its social safety nets, and improve its financial relations with the public utilities. The current budget framework is not unified for the entire public sector; many of its financial activities are still not transparent to the Government itself, to Parliament or to the public. These include transactions of extra-budgetary funds and entities, loans to selected public autonomous agencies that are converted to expenditure at the end of the financial year and unutilized investment authority that is carried forward without additional parliamentary disclosure or for review of actual performance against the budget plans. There is also no formal audit opinion by the Court of Accounts on the fairness of the Government's annual financial report. The CFAA report makes a number of recommendations to address these practices.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2005-05
Subjects:	ACCOUNTABILITY ARRANGEMENTS, ACCOUNTABILITY FOR EXPENDITURES, ACCOUNTABILITY FOR PERFORMANCE, ACCOUNTABILITY FRAMEWORK, ACCOUNTING, ACCOUNTING STANDARDS, ACCRUAL ACCOUNTING, ACCRUAL BASIS, ALLOCATION, ALLOCATION OF RESOURCES, ANNUAL BUDGET, ANNUAL FINANCIAL STATEMENTS, APPROPRIATION, AUDITED FINANCIAL STATEMENTS, AUDITORS, BONDS, BORROWING, BUDGET AUTHORITY, BUDGET CIRCULAR, BUDGET COMMITTEE, BUDGET COVERAGE, BUDGET DEFICIT, BUDGET DEFICITS, BUDGET EXECUTION, BUDGET EXECUTION PROCEDURES, BUDGET EXPENDITURE, BUDGET FORMULATION, BUDGET FRAMEWORK, BUDGET PLANNING, BUDGET PREPARATION, BUDGET PREPARATION CALENDAR, BUDGET PREPARATION CYCLE, BUDGET PREPARATION PROCESS, BUDGET PROPOSAL, BUDGET REPORT, BUDGET REQUEST, BUDGET REQUESTS, BUDGET SUBMISSION, BUDGET SUBMISSIONS, BUDGETARY FUND, BUDGETARY FUNDS, CAPACITY BUILDING, CAPACITY-BUILDING, CAPITAL BUDGETS, CAPITAL INFLOWS, CAPITAL INVESTMENTS, CAPITAL SPENDING, CASH BASIS, CASH MANAGEMENT, CENTRAL BANK, CHART OF ACCOUNTS, CIVIL SERVICE, COALITION GOVERNMENT, CONTINGENT LIABILITIES, COSTS OF GOVERNMENT, COUNTRY PROCUREMENT, COUNTRY PROCUREMENT ASSESSMENT, CURRENT BUDGET, DEBT, DEBT MANAGEMENT, DEBT SERVICE, DECISION-MAKING, DIAGNOSTIC EXERCISE, DIVISION OF RESPONSIBILITIES, DONOR ASSISTANCE, EBF, ECONOMIC GROWTH, EFFECTIVENESS OF GOVERNMENT, EXPENDITURE CONTROL, EXPENDITURE CYCLE, EXPENDITURE PROCESS, EXPENDITURES, EXTERNAL AUDIT, EXTERNAL AUDITORS, FIDUCIARY RISK, FINANCIAL ACCOUNTABILITY, FINANCIAL ACTIVITIES, FINANCIAL ANALYSIS, FINANCIAL CONTROL, FINANCIAL DISCLOSURE, FINANCIAL INFORMATION, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT INFORMATION, FINANCIAL MANAGEMENT INFORMATION SYSTEM, FINANCIAL MANAGEMENT INFORMATION SYSTEMS, FINANCIAL MANAGEMENT SYSTEMS, FINANCIAL PERFORMANCE, FINANCIAL RELATIONS, FINANCIAL REPORTING, FINANCIAL REPORTING STANDARDS, FINANCIAL STABILITY, FINANCIAL STATEMENTS, FINANCIAL STATISTICS, FINANCIAL SYSTEM, FINANCIAL TRANSACTIONS, FISCAL AFFAIRS, FISCAL DEFICIT, FISCAL FRAMEWORK, FISCAL IMBALANCES, FISCAL IMPLICATIONS, FISCAL MANAGEMENT, FISCAL OPERATIONS, FISCAL TRANSPARENCY, FOREIGN RESERVES, GLOBAL EXPENDITURE CEILING, GOVERNMENT SPENDING, GROSS DEBT, GROSS DOMESTIC PRODUCT, HEALTH SERVICES, INFLATION, INTEREST INCOME, INTEREST RATES, INTERNAL AUDIT, INTERNAL AUDITORS, INTERNAL BUDGET, INTERNAL CONTROL, INTERNAL CONTROL SYSTEM, INTERNAL CONTROL SYSTEMS, INTERNAL CONTROLS, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL STANDARDS, LAWS, LEGAL FRAMEWORK, LEGISLATION, LEGISLATIVE SCRUTINY, MIDDLE EAST, MINISTRY OF ECONOMY, MINISTRY OF FINANCE, MUNICIPALITIES, NATIONAL SOCIAL SECURITY FUND, NORTH AFRICA, OIL PRICES, ORGANIC BUDGET LAW, PARLIAMENT, PARLIAMENTARY COMMITTEE, PARLIAMENTARY CONTROL, PARLIAMENTARY OVERSIGHT, PENSION REFORM, PERFORMANCE AUDIT, PERFORMANCE AUDITS, PERFORMANCE REVIEW, POLITICAL PARTIES, POLITICAL REALITY, PRIME MINISTER, PRIVATE SECTOR, PROGRAMS, PUBLIC, PUBLIC ACCOUNTABILITY, PUBLIC ACCOUNTING LAW, PUBLIC DEBT, PUBLIC DEFICIT, PUBLIC ENTERPRISES, PUBLIC ENTITIES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURE REVIEW, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FUNDS, PUBLIC SECTOR, PUBLIC SECTOR ACCOUNTING, PUBLIC SECTOR ACTIVITIES, PUBLIC SECTOR DEBT, PUBLIC TREASURY, PUBLIC UTILITIES, REFORM AGENDA, REVENUE COLLECTION, SERVICE PROVIDERS, SOCIAL SAFETY NETS, SOCIAL SECURITY, STATE AUDIT OFFICE, SUPREME AUDIT INSTITUTIONS, TAX, TOTAL SPENDING, TRANSPARENCY, TREASURY SYSTEM,
Online Access:	http://documents.worldbank.org/curated/en/2005/05/6985381/lebanon-country-financial-accountability-assessment https://hdl.handle.net/10986/8774
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