Russian Federation : Country Financial Accountability Assessment

This CFAA concentrates, by design, on federal-level public sector financial management in the Russian Federation. Its results feed into the fiduciary discussion presented in the new Russian Federation Country Assistance Strategy (CAS), and into the...

Full description

Bibliographic Details
Main Author: World Bank
Format: Country Financial Accountability Assessment
Language:English
en_US
Published: Washington, DC 2013
Subjects:
TAX
Online Access:http://documents.worldbank.org/curated/en/2003/09/2693403/russian-federation-country-financial-accountability-assessment
http://hdl.handle.net/10986/14698
id okr-10986-14698
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic POLITICAL ACCOUNTABILITY
PUBLIC SECTOR MANAGEMENT
BUDGET EXECUTION
EXPENDITURE ANALYSIS
RESOURCE ALLOCATION PROCESSES
POVERTY REDUCTION OBJECTIVES
FINANCIAL MANAGEMENT SYSTEMS
INTERNAL AUDIT
PROCUREMENT
ALLOCATION OF RESOURCES
BUDGET MONITORING
BUDGET IMPLEMENTATION
FINANCIAL REPORTING STANDARDS
GOVERNMENT ACCOUNTING
INFORMATION TECHNOLOGY
AUDITING
CORRUPT PRACTICES
CUSTOMS ADMINISTRATION
OFF-BUDGET SUBSIDIES
SUBNATIONAL FINANCES
INSTITUTIONAL FRAMEWORK
LEGAL FRAMEWORK ACCOUNT
ACCOUNTABILITY
ACCOUNTANTS
ACCOUNTING
ACCOUNTING PRINCIPLES
ACCOUNTS
ADMINISTRATIVE REGIONS
ANTI- CORRUPTION
AUDITING
AUDITING STANDARDS
AUTHORIZATION
BALANCE SHEET
BANKING SECTOR
BANKING SUPERVISION
BANKING SYSTEM
BILLS
BOOKKEEPING
BORROWING
BUDGET CLASSIFICATION
BUDGET EXECUTION
BUDGET FINANCING
BUDGET FORMULATION
BUDGET MANAGEMENT
BUDGET PERFORMANCE
BUDGET PROCESS
BUDGET REVENUES
BUDGETARY FUNDS
BUDGETARY ORGANIZATIONS
BUDGETING
BUSINESS PROCESSES
CASH FLOWS
CASH MANAGEMENT
CENTRAL GOVERNMENT
CHECKING
CITIZENS
CONSENSUS
CONSOLIDATION
CONSTITUTION
CORPORATE GOVERNANCE
DEBT
DECISION MAKING
DEMOCRACY
DISTRICTS
ECONOMIC GROWTH
EXECUTION
EXPENDITURES
FEDERAL GOVERNMENT
FEDERAL GOVERNMENT CONTROL
FINANCIAL ACCOUNTABILITY
FINANCIAL ADMINISTRATION
FINANCIAL CONTROL
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT SYSTEMS
FINANCIAL REPORTING
FINANCIAL SECTOR
FINANCIAL STATEMENTS
FISCAL
FISCAL MANAGEMENT
FISCAL REFORM
FISCAL TRANSPARENCY
GOVERNMENT ACCOUNTING
GOVERNMENT AGENCIES
GOVERNMENT AGENCY
GOVERNMENT FINANCE
GOVERNMENT LEVEL
GOVERNMENT MINISTRIES
GOVERNMENTAL ORGANIZATION
HARD BUDGET CONSTRAINTS
HUMAN RESOURCES
INSOLVENCY
INSTITUTIONAL DEVELOPMENT
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL REFORMS
INTERNAL AUDIT
INTERNAL AUDIT FUNCTION
INTERNAL AUDITING
INTERNAL CONTROLS
JUDICIARY
LEGISLATION
LEGISLATURE
LOCAL GOVERNMENT
LOCAL GOVERNMENTS
LOWER HOUSE
MINISTRY OF FINANCE
MUNICIPALITIES
NATIONAL GOVERNMENTS
NATIONAL LEVEL
OLIGARCHY
PRIVATE SECTOR
PROCUREMENT
PUBLIC EXPENDITURE
PUBLIC EXPENDITURE REVIEWS
PUBLIC FINANCE
PUBLIC FINANCE MANAGEMENT
PUBLIC FINANCES
PUBLIC INSTITUTIONS
PUBLIC INVESTMENT
PUBLIC POLICY
PUBLIC RESOURCES
PUBLIC SECTOR
PUBLIC SECTOR ACCOUNTING
PUBLIC SECTOR REFORM
QUALITY ASSURANCE
REPRESENTATIVES
REPUBLICS
REVENUE MANAGEMENT
RISK OF FRAUD
SOCIAL INSURANCE
SOCIAL POLICY
STATE AGENCIES
TAX
TAX ADMINISTRATION
TAX COLLECTION
TAX COLLECTIONS
TAX LAWS
TAXATION
TECHNICAL ASSISTANCE
TOWNSHIPS
TRANSPARENCY
TREASURY
TREASURY OPERATIONS
UPPER HOUSE
spellingShingle POLITICAL ACCOUNTABILITY
PUBLIC SECTOR MANAGEMENT
BUDGET EXECUTION
EXPENDITURE ANALYSIS
RESOURCE ALLOCATION PROCESSES
POVERTY REDUCTION OBJECTIVES
FINANCIAL MANAGEMENT SYSTEMS
INTERNAL AUDIT
PROCUREMENT
ALLOCATION OF RESOURCES
BUDGET MONITORING
BUDGET IMPLEMENTATION
FINANCIAL REPORTING STANDARDS
GOVERNMENT ACCOUNTING
INFORMATION TECHNOLOGY
AUDITING
CORRUPT PRACTICES
CUSTOMS ADMINISTRATION
OFF-BUDGET SUBSIDIES
SUBNATIONAL FINANCES
INSTITUTIONAL FRAMEWORK
LEGAL FRAMEWORK ACCOUNT
ACCOUNTABILITY
ACCOUNTANTS
ACCOUNTING
ACCOUNTING PRINCIPLES
ACCOUNTS
ADMINISTRATIVE REGIONS
ANTI- CORRUPTION
AUDITING
AUDITING STANDARDS
AUTHORIZATION
BALANCE SHEET
BANKING SECTOR
BANKING SUPERVISION
BANKING SYSTEM
BILLS
BOOKKEEPING
BORROWING
BUDGET CLASSIFICATION
BUDGET EXECUTION
BUDGET FINANCING
BUDGET FORMULATION
BUDGET MANAGEMENT
BUDGET PERFORMANCE
BUDGET PROCESS
BUDGET REVENUES
BUDGETARY FUNDS
BUDGETARY ORGANIZATIONS
BUDGETING
BUSINESS PROCESSES
CASH FLOWS
CASH MANAGEMENT
CENTRAL GOVERNMENT
CHECKING
CITIZENS
CONSENSUS
CONSOLIDATION
CONSTITUTION
CORPORATE GOVERNANCE
DEBT
DECISION MAKING
DEMOCRACY
DISTRICTS
ECONOMIC GROWTH
EXECUTION
EXPENDITURES
FEDERAL GOVERNMENT
FEDERAL GOVERNMENT CONTROL
FINANCIAL ACCOUNTABILITY
FINANCIAL ADMINISTRATION
FINANCIAL CONTROL
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT SYSTEMS
FINANCIAL REPORTING
FINANCIAL SECTOR
FINANCIAL STATEMENTS
FISCAL
FISCAL MANAGEMENT
FISCAL REFORM
FISCAL TRANSPARENCY
GOVERNMENT ACCOUNTING
GOVERNMENT AGENCIES
GOVERNMENT AGENCY
GOVERNMENT FINANCE
GOVERNMENT LEVEL
GOVERNMENT MINISTRIES
GOVERNMENTAL ORGANIZATION
HARD BUDGET CONSTRAINTS
HUMAN RESOURCES
INSOLVENCY
INSTITUTIONAL DEVELOPMENT
INSTITUTIONAL FRAMEWORK
INSTITUTIONAL REFORMS
INTERNAL AUDIT
INTERNAL AUDIT FUNCTION
INTERNAL AUDITING
INTERNAL CONTROLS
JUDICIARY
LEGISLATION
LEGISLATURE
LOCAL GOVERNMENT
LOCAL GOVERNMENTS
LOWER HOUSE
MINISTRY OF FINANCE
MUNICIPALITIES
NATIONAL GOVERNMENTS
NATIONAL LEVEL
OLIGARCHY
PRIVATE SECTOR
PROCUREMENT
PUBLIC EXPENDITURE
PUBLIC EXPENDITURE REVIEWS
PUBLIC FINANCE
PUBLIC FINANCE MANAGEMENT
PUBLIC FINANCES
PUBLIC INSTITUTIONS
PUBLIC INVESTMENT
PUBLIC POLICY
PUBLIC RESOURCES
PUBLIC SECTOR
PUBLIC SECTOR ACCOUNTING
PUBLIC SECTOR REFORM
QUALITY ASSURANCE
REPRESENTATIVES
REPUBLICS
REVENUE MANAGEMENT
RISK OF FRAUD
SOCIAL INSURANCE
SOCIAL POLICY
STATE AGENCIES
TAX
TAX ADMINISTRATION
TAX COLLECTION
TAX COLLECTIONS
TAX LAWS
TAXATION
TECHNICAL ASSISTANCE
TOWNSHIPS
TRANSPARENCY
TREASURY
TREASURY OPERATIONS
UPPER HOUSE
World Bank
Russian Federation : Country Financial Accountability Assessment
geographic_facet Europe and Central Asia
Russian Federation
description This CFAA concentrates, by design, on federal-level public sector financial management in the Russian Federation. Its results feed into the fiduciary discussion presented in the new Russian Federation Country Assistance Strategy (CAS), and into the Core Integrative Fiduciary Assessment (CIFA). In budget management the CFAA recommends 1) strengthening the strategy phase of budget preparation to link macroeconomic resource constraints and sectoral and program targets; 2) adopting a uniform, simplified budget coding structure; 3) adopting a more participatory approach to budget planning and formulation; 4) introducing accounting principles by entities with extra-budgetary funds and preparing reports that are compatible with Treasury accounts and fiscal reporting; 5) preparing a program of institutional development for the MOF and applying modem information technology; and 6) amending the chart of accounts (COA) to fully reflect the budget classification. The development and implementation of a full-function Treasury system will take several years and is not expected to become fully operational before 2004/05. In the interim, the CFAA recommends immediate implementation of an improved system of expenditure monitoring, extension of Treasury control of expenditure commitments to all items of the economic expenditure classification, and replacement of weekly cash finding limits by monthly funding of established expenditure commitments. In accounting and financial reporting, some recommendations are to 0 review of existing budget classifications and coding structures and design of a revised structure and COA that conform with the IMF GFS classification; and to integrate the two existing coding systems. To improve internal controls and internal auditing, the report recommends regarding the internal audit as an important management tool, shifting to a new model, based on service orientation and performance/risk assessment, internal audit functions becoming independent from other organizational and functional departments, staff reporting directly to the head of the organization, regulating the entity by an audit charter, and audit functions be carried out by multi-disciplinary teams. As for external audits, the CFAA strongly supports the Chambers' program of institutional and methodological improvements, in particular its preparation of a long- term plan to assess public institutions' performance (value for money) in the use of public funds. Finally, the CFAA finds that the World Bank is adequately discharging its financial management fiduciary responsibilities with respect to its lending operations. The CFAA risk assessment concludes that the current ring-fencing approach to project implementation arrangements should be maintained, recognizing that--based on the effective operationalization of the reforms being introduced in public financial accountability--the present arrangements could in due course be subject to revision.
format Economic & Sector Work :: Country Financial Accountability Assessment
author World Bank
author_facet World Bank
author_sort World Bank
title Russian Federation : Country Financial Accountability Assessment
title_short Russian Federation : Country Financial Accountability Assessment
title_full Russian Federation : Country Financial Accountability Assessment
title_fullStr Russian Federation : Country Financial Accountability Assessment
title_full_unstemmed Russian Federation : Country Financial Accountability Assessment
title_sort russian federation : country financial accountability assessment
publisher Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2003/09/2693403/russian-federation-country-financial-accountability-assessment
http://hdl.handle.net/10986/14698
_version_ 1764428448116244480
spelling okr-10986-146982021-04-23T14:03:17Z Russian Federation : Country Financial Accountability Assessment World Bank POLITICAL ACCOUNTABILITY PUBLIC SECTOR MANAGEMENT BUDGET EXECUTION EXPENDITURE ANALYSIS RESOURCE ALLOCATION PROCESSES POVERTY REDUCTION OBJECTIVES FINANCIAL MANAGEMENT SYSTEMS INTERNAL AUDIT PROCUREMENT ALLOCATION OF RESOURCES BUDGET MONITORING BUDGET IMPLEMENTATION FINANCIAL REPORTING STANDARDS GOVERNMENT ACCOUNTING INFORMATION TECHNOLOGY AUDITING CORRUPT PRACTICES CUSTOMS ADMINISTRATION OFF-BUDGET SUBSIDIES SUBNATIONAL FINANCES INSTITUTIONAL FRAMEWORK LEGAL FRAMEWORK ACCOUNT ACCOUNTABILITY ACCOUNTANTS ACCOUNTING ACCOUNTING PRINCIPLES ACCOUNTS ADMINISTRATIVE REGIONS ANTI- CORRUPTION AUDITING AUDITING STANDARDS AUTHORIZATION BALANCE SHEET BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BILLS BOOKKEEPING BORROWING BUDGET CLASSIFICATION BUDGET EXECUTION BUDGET FINANCING BUDGET FORMULATION BUDGET MANAGEMENT BUDGET PERFORMANCE BUDGET PROCESS BUDGET REVENUES BUDGETARY FUNDS BUDGETARY ORGANIZATIONS BUDGETING BUSINESS PROCESSES CASH FLOWS CASH MANAGEMENT CENTRAL GOVERNMENT CHECKING CITIZENS CONSENSUS CONSOLIDATION CONSTITUTION CORPORATE GOVERNANCE DEBT DECISION MAKING DEMOCRACY DISTRICTS ECONOMIC GROWTH EXECUTION EXPENDITURES FEDERAL GOVERNMENT FEDERAL GOVERNMENT CONTROL FINANCIAL ACCOUNTABILITY FINANCIAL ADMINISTRATION FINANCIAL CONTROL FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL SECTOR FINANCIAL STATEMENTS FISCAL FISCAL MANAGEMENT FISCAL REFORM FISCAL TRANSPARENCY GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT AGENCY GOVERNMENT FINANCE GOVERNMENT LEVEL GOVERNMENT MINISTRIES GOVERNMENTAL ORGANIZATION HARD BUDGET CONSTRAINTS HUMAN RESOURCES INSOLVENCY INSTITUTIONAL DEVELOPMENT INSTITUTIONAL FRAMEWORK INSTITUTIONAL REFORMS INTERNAL AUDIT INTERNAL AUDIT FUNCTION INTERNAL AUDITING INTERNAL CONTROLS JUDICIARY LEGISLATION LEGISLATURE LOCAL GOVERNMENT LOCAL GOVERNMENTS LOWER HOUSE MINISTRY OF FINANCE MUNICIPALITIES NATIONAL GOVERNMENTS NATIONAL LEVEL OLIGARCHY PRIVATE SECTOR PROCUREMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEWS PUBLIC FINANCE PUBLIC FINANCE MANAGEMENT PUBLIC FINANCES PUBLIC INSTITUTIONS PUBLIC INVESTMENT PUBLIC POLICY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR REFORM QUALITY ASSURANCE REPRESENTATIVES REPUBLICS REVENUE MANAGEMENT RISK OF FRAUD SOCIAL INSURANCE SOCIAL POLICY STATE AGENCIES TAX TAX ADMINISTRATION TAX COLLECTION TAX COLLECTIONS TAX LAWS TAXATION TECHNICAL ASSISTANCE TOWNSHIPS TRANSPARENCY TREASURY TREASURY OPERATIONS UPPER HOUSE This CFAA concentrates, by design, on federal-level public sector financial management in the Russian Federation. Its results feed into the fiduciary discussion presented in the new Russian Federation Country Assistance Strategy (CAS), and into the Core Integrative Fiduciary Assessment (CIFA). In budget management the CFAA recommends 1) strengthening the strategy phase of budget preparation to link macroeconomic resource constraints and sectoral and program targets; 2) adopting a uniform, simplified budget coding structure; 3) adopting a more participatory approach to budget planning and formulation; 4) introducing accounting principles by entities with extra-budgetary funds and preparing reports that are compatible with Treasury accounts and fiscal reporting; 5) preparing a program of institutional development for the MOF and applying modem information technology; and 6) amending the chart of accounts (COA) to fully reflect the budget classification. The development and implementation of a full-function Treasury system will take several years and is not expected to become fully operational before 2004/05. In the interim, the CFAA recommends immediate implementation of an improved system of expenditure monitoring, extension of Treasury control of expenditure commitments to all items of the economic expenditure classification, and replacement of weekly cash finding limits by monthly funding of established expenditure commitments. In accounting and financial reporting, some recommendations are to 0 review of existing budget classifications and coding structures and design of a revised structure and COA that conform with the IMF GFS classification; and to integrate the two existing coding systems. To improve internal controls and internal auditing, the report recommends regarding the internal audit as an important management tool, shifting to a new model, based on service orientation and performance/risk assessment, internal audit functions becoming independent from other organizational and functional departments, staff reporting directly to the head of the organization, regulating the entity by an audit charter, and audit functions be carried out by multi-disciplinary teams. As for external audits, the CFAA strongly supports the Chambers' program of institutional and methodological improvements, in particular its preparation of a long- term plan to assess public institutions' performance (value for money) in the use of public funds. Finally, the CFAA finds that the World Bank is adequately discharging its financial management fiduciary responsibilities with respect to its lending operations. The CFAA risk assessment concludes that the current ring-fencing approach to project implementation arrangements should be maintained, recognizing that--based on the effective operationalization of the reforms being introduced in public financial accountability--the present arrangements could in due course be subject to revision. 2013-07-31T20:22:13Z 2013-07-31T20:22:13Z 2003-09-16 http://documents.worldbank.org/curated/en/2003/09/2693403/russian-federation-country-financial-accountability-assessment http://hdl.handle.net/10986/14698 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Financial Accountability Assessment Economic & Sector Work Europe and Central Asia Russian Federation