Regional Study on the Management, Control, and Recording of Fixed Assets : Latin America and the Caribbean
This report represents a series of studies on the status of the implementation of the International Public Sector Accounting Standards in the Latin America region. The first report of this series, Public Sector Accounting and Financial Information...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/854201513610556953/Governance-global-practice-Latin-America-and-the-Caribbean-Regional-study-on-the-management-control-and-recording-of-fixed-assets http://hdl.handle.net/10986/29109 |
| Summary: | This report represents a series of
studies on the status of the implementation of the
International Public Sector Accounting Standards in the
Latin America region. The first report of this series,
Public Sector Accounting and Financial Information in Latin
America, was developed by the World Bank team and issued in
April 2015. The general purpose of this second report is to
document the status of the management, control, and
recording of fixed assets in the countries surveyed, and to
propose a comprehensive asset management model to strengthen
the region’s public financial management systems in terms of
public sector accounting, public investment, transparency,
and accountability. The report aims to address the following
asset management challenges: (a) accounting methodologies
that have been adopted or implemented in the surveyed
countries do not necessarily capture all government fixed
assets; (b) incomplete or unreliable information on
infrastructure assets and projects and other fixed assets,
as well as on the provisions related to their upkeep and
replacement, creates obstacles to improving public
investment policies and enhancing the region’s ability to
promote productivity and competitiveness; (c) greater
control of fixed assets is directly related to the
improvement of transparency and accountability indexes; and
(d) governments’ inability to obtain an objective picture of
their financial position and performance limits the quality
of analysis on the efficient use of public resources related
to electoral commitments, fiscal stability, and economic
growth in the medium and long term. |
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