FM Sector Strategy

1. FM FM Sector Strategy World Bank Financial Management Sector September 2010

2. Work of the FM Sector Project Level Country Level Global Level • Provides assessment, design, implementation support services • Supports development of sustainable FM capacity • Use of country systems – the default option • Provides information on country fiduciary environment & risks • Supports building FM capacity • Delivers diagnostics, policy & technical advice, technical & project assistance • Facilitates FM learning & access to expertise • Maintains & builds partnerships • Supports standard setting & implementation • Builds regional practices • Promotes FM harmonization in improving aid effectiveness Bank Policies, FM Manual, & Reference Materials 180 professional staff - 70% based in country offices - working at many levels

3. Opportunities and Challenges

4. FM Sector Strategy Bank Vision A world free of poverty Sound FM capacity in All partner countries FM Vision Developing FM capacity of partner countries Objectives Providing reasonable assurance on use of funds Delivering quality FM services in Bank-financed operations Building country capacity in FM Promoting global accounting, auditing, & related standards Strategic Priorities FM Sector Board, Committees, Working Groups, Regions, & OPCFM Implementation Support International strategic partnerships Staffing and resources to deliver results

5. Vision Countries FM Strong and capable FM systems and human resources to manage all public funds and account for the use of those funds to citizens and donors FM Sector Partner for development results, fully integrated into preparation & implementation support for Bank-financed projects & capacity development efforts

6. Strategic Objectives Developing FM capacity of partner countries Providing reasonable FM assurance on use of funds

7. Strategic Priorities

8. Delivering Quality FM services in Bank-Financed Operations FY11-13 Strategy Focus Areas

9. Building Country Capacity in FMFY11-13 Strategy Focus Areas Deepening implementation of reforms and building sustainable country FM capacity Diagnostic studies, PFM improvement programs, implementation support & knowledge sharing Implementation support for ROSC A&A recommendations and country reform programs Building country FM systems capacity & PFM professionalization Developing professional accountancy bodies and standard-setting institutions Helping countries implement accounting, auditing, & related standards Developing systems for results-based lending & decentralized FM arrangements

10. Promoting Global Accounting, Auditing, and Related Standards FY11-13 Strategy Focus Areas Promoting adoption & implementation of international standards Strengthening & increasing access to international standards Encouraging developing nations’ inputs to setting global standards

11. Support governments to strengthen their institutional arrangements for preventing and detecting corruption • Support key government agencies responsible for management and control of corruption risks Governance and Anticorruption Strengthen internal controls & internal audit Improve financial reporting & audit Conduct analytic & advisory work Support IFMIS developments Enhance legislative scrutiny

12. Implementation of the Strategy

13. FM Sector Strategy Moving Forward… Bank Vision A world free of poverty Sound FM capacity in All partner countries FM Vision Developing FM capacity of partner countries Objectives Providing reasonable assurance on use of funds Delivering quality FM services in Bank-financed operations Building country capacity in FM Promoting global accounting, auditing, & related standards Strategic Priorities FM Sector Board, Committees, Working Groups, Regions, & OPCFM Implementation Support International strategic partnerships Partnering for Development Results Staffing and resources to deliver results