Public Financial Management

Project Development Objectives

Original PDO

The project development objective (PDO) is to enhance the quality and impact of public sector audit in Nepal

Change in Project's Development Objectives

Change in Results Framework

Explanation:

The restructuring of the Results Framework is considered necessary to :

a.         Simplify the indicators so that reliable data may be gathered and used in relation to the indicators; and

b.         Update the target values in light of progress to the date of the mid-term review

During the November 2014 review, a revised Results Framework (RF) was discussed with the OAG which takes into account the updated authorizing environment, attribution to the project activities and the current status of implementation and is depicted in the Annex along with justification for each revision. Final results framework is reflected in letter dated March 4, 2015 tothe recipient recording the Bank’s agreement on the revised framework. Changes in the results framework also include clarifying results for pilot financial audits and slicing them around financial statement audits of legal entities and financial audits of the spending units of government that help in overall financial statement audit of GoN. It has also been decided to focus more on financial statement audits in the current year by conducting 5 financial statement audits comprising of 2 line ministries, 1 district development committee, 1 trust and 1 state owned enterprise. The current status of achievements as per current RF is also depicted in the Annex. In line with OAG’s request, new indicators have been added that are simple and easy to measure.