Colombia : Country Financial Accountability Assessment
In recent years Colombia has made important progress in its PFM systems and improved transparency in public finance. Important initiatives include adoption of the 2002 presidential anticorruption plan, improving the administration of publicly owned banks, clarifying responsibilities for managing exp...
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| Format: | Country Financial Accountability Assessment |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/04/5843141/colombia-country-financial-accountability-assessment http://hdl.handle.net/10986/8573 |
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okr-10986-8573 |
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| 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 |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING ADJUSTMENT LENDING ADMINISTRATIVE ASSISTANCE ADMINISTRATIVE MANAGEMENT ADMINISTRATIVE PROCEDURES ALLOCATING PUBLIC RESOURCES AUDITS AUTHORITY AUTONOMY BALANCE SHEET BUDGET FORMULATION BUDGET PROCESS BUDGET REFORM CAPITAL EXPENDITURES CASH FLOWS CENTRAL GOVERNMENT CITIZENS COAL COLLECTION SERVICES COMPARATIVE ANALYSIS COMPTROLLERS CONGRESSIONAL DEBATE CONSOLIDATION CONSTITUTION CORRUPTION DECENTRALIZATION DECENTRALIZATION PROCESS DECREE ECONOMIC DEVELOPMENT ECONOMIC GROWTH EDUCATION MINISTRIES EVASION EXECUTION FINANCIAL ACCOUNTABILITY FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL RESULTS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL FISCAL CONTROL FISCAL DIFFICULTIES FISCAL MANAGEMENT FISCAL POLICY FISCAL PROBLEMS FISCAL RESPONSIBILITY FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FORWARD COMMITMENTS GNP GOVERNMENT AGENCIES GOVERNMENT DEBT GOVERNMENT ENTITIES GOVERNMENT INFORMATION GOVERNMENT INSTITUTIONS GOVERNMENT LEVELS GOVERNMENT POLICIES GOVERNMENT REPRESENTATIVES GOVERNMENT STRUCTURES GOVERNMENT SYSTEMS GOVERNMENTAL POLICY INSTITUTIONAL STRUCTURE INSURGENCY INVENTORY LABOR FORCE LAWS LEGAL ACTION LEGAL FRAMEWORK LEGISLATION LEGISLATIVE OVERSIGHT LEGISLATORS LEGISLATURE LIABILITY MANAGEMENT LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES MANAGEMENT MANAGEMENT INFORMATION SYSTEMS MANDATES MUNICIPAL GOVERNMENTS MUNICIPALITIES NATIONAL ACCOUNTS NATIONAL BUDGET NATIONAL GOVERNMENTS NATIONAL PLANNING NATIONAL PLANNING DEPARTMENT NATURAL RESOURCES OIL OPERATIONS PARASTATALS POLICY DECISIONS POLITICAL POWER PRESIDENCY PRIVATE SECTOR PROVINCIAL GOVERNMENTS PROVISIONS PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC MANAGEMENT PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC RESOURCES MANAGEMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR PERFORMANCE PUBLIC SERVANTS PUBLIC WORKS REGULATORY FRAMEWORK REGULATORY INTERVENTION REGULATORY POLICY ROYALTY SENATE SOCIAL POLICY SOCIAL SECURITY STATE-OWNED ENTERPRISES STRUCTURAL ADJUSTMENT SUBSIDIARY TAX TAX COLLECTION TAX POLICY TAX REFORMS TAX REVENUE TELECOMMUNICATIONS TRADEOFFS TREASURY |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING ADJUSTMENT LENDING ADMINISTRATIVE ASSISTANCE ADMINISTRATIVE MANAGEMENT ADMINISTRATIVE PROCEDURES ALLOCATING PUBLIC RESOURCES AUDITS AUTHORITY AUTONOMY BALANCE SHEET BUDGET FORMULATION BUDGET PROCESS BUDGET REFORM CAPITAL EXPENDITURES CASH FLOWS CENTRAL GOVERNMENT CITIZENS COAL COLLECTION SERVICES COMPARATIVE ANALYSIS COMPTROLLERS CONGRESSIONAL DEBATE CONSOLIDATION CONSTITUTION CORRUPTION DECENTRALIZATION DECENTRALIZATION PROCESS DECREE ECONOMIC DEVELOPMENT ECONOMIC GROWTH EDUCATION MINISTRIES EVASION EXECUTION FINANCIAL ACCOUNTABILITY FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL RESULTS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL FISCAL CONTROL FISCAL DIFFICULTIES FISCAL MANAGEMENT FISCAL POLICY FISCAL PROBLEMS FISCAL RESPONSIBILITY FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FORWARD COMMITMENTS GNP GOVERNMENT AGENCIES GOVERNMENT DEBT GOVERNMENT ENTITIES GOVERNMENT INFORMATION GOVERNMENT INSTITUTIONS GOVERNMENT LEVELS GOVERNMENT POLICIES GOVERNMENT REPRESENTATIVES GOVERNMENT STRUCTURES GOVERNMENT SYSTEMS GOVERNMENTAL POLICY INSTITUTIONAL STRUCTURE INSURGENCY INVENTORY LABOR FORCE LAWS LEGAL ACTION LEGAL FRAMEWORK LEGISLATION LEGISLATIVE OVERSIGHT LEGISLATORS LEGISLATURE LIABILITY MANAGEMENT LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES MANAGEMENT MANAGEMENT INFORMATION SYSTEMS MANDATES MUNICIPAL GOVERNMENTS MUNICIPALITIES NATIONAL ACCOUNTS NATIONAL BUDGET NATIONAL GOVERNMENTS NATIONAL PLANNING NATIONAL PLANNING DEPARTMENT NATURAL RESOURCES OIL OPERATIONS PARASTATALS POLICY DECISIONS POLITICAL POWER PRESIDENCY PRIVATE SECTOR PROVINCIAL GOVERNMENTS PROVISIONS PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC MANAGEMENT PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC RESOURCES MANAGEMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR PERFORMANCE PUBLIC SERVANTS PUBLIC WORKS REGULATORY FRAMEWORK REGULATORY INTERVENTION REGULATORY POLICY ROYALTY SENATE SOCIAL POLICY SOCIAL SECURITY STATE-OWNED ENTERPRISES STRUCTURAL ADJUSTMENT SUBSIDIARY TAX TAX COLLECTION TAX POLICY TAX REFORMS TAX REVENUE TELECOMMUNICATIONS TRADEOFFS TREASURY World Bank Colombia : Country Financial Accountability Assessment |
| geographic_facet |
Latin America & Caribbean America South America Colombia |
| description |
In recent years Colombia has made important progress in its PFM systems and improved transparency in public finance. Important initiatives include adoption of the 2002 presidential anticorruption plan, improving the administration of publicly owned banks, clarifying responsibilities for managing expenditures among different levels of government, and introducing modem accounting concepts and procedures. These initiatives were supported by the rollout of new information systems covering the budget and local government finances, as well as the monitoring of public procurement. The Government enacted an important Fiscal Transparency and Responsibility Law in 2003, and strengthened the disciplinary code for public servants. The Government also strengthened the laws regulating contingent liability management in 1998, and is building a systematic framework to track and manage contingent liabilities. Systems are being put in place to track counter-guarantees for sub-national governments, lawsuits, and arrears to providers, and two special funds have been established to manage specific contingencies. Despite this progress, there remain problems in managing other liabilities. Among them: The Government has run up significant arrears with providers, largely because anticipated budget allocations from Treasury have been curtailed by revenue shortfalls. In addition, the handling of pension liabilities and contingent liabilities related to lawsuits represents an important financial management weakness. These contingent liabilities are aggravated by the Government's weak capacity to defend itself in court, and a reluctance to pursue legal action against civil servants, which implies that corruption involves little risk. In addition, the legal framework needed to flesh out constitutional mandates is not yet fully in place and is sometimes unclear, particularly in the areas of budget and fiscal control. |
| format |
Economic & Sector Work :: Country Financial Accountability Assessment |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Colombia : Country Financial Accountability Assessment |
| title_short |
Colombia : Country Financial Accountability Assessment |
| title_full |
Colombia : Country Financial Accountability Assessment |
| title_fullStr |
Colombia : Country Financial Accountability Assessment |
| title_full_unstemmed |
Colombia : Country Financial Accountability Assessment |
| title_sort |
colombia : country financial accountability assessment |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/5843141/colombia-country-financial-accountability-assessment http://hdl.handle.net/10986/8573 |
| _version_ |
1764404953747554304 |
| spelling |
okr-10986-85732021-04-23T14:02:39Z Colombia : Country Financial Accountability Assessment World Bank ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING ADJUSTMENT LENDING ADMINISTRATIVE ASSISTANCE ADMINISTRATIVE MANAGEMENT ADMINISTRATIVE PROCEDURES ALLOCATING PUBLIC RESOURCES AUDITS AUTHORITY AUTONOMY BALANCE SHEET BUDGET FORMULATION BUDGET PROCESS BUDGET REFORM CAPITAL EXPENDITURES CASH FLOWS CENTRAL GOVERNMENT CITIZENS COAL COLLECTION SERVICES COMPARATIVE ANALYSIS COMPTROLLERS CONGRESSIONAL DEBATE CONSOLIDATION CONSTITUTION CORRUPTION DECENTRALIZATION DECENTRALIZATION PROCESS DECREE ECONOMIC DEVELOPMENT ECONOMIC GROWTH EDUCATION MINISTRIES EVASION EXECUTION FINANCIAL ACCOUNTABILITY FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL RESULTS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FISCAL FISCAL CONTROL FISCAL DIFFICULTIES FISCAL MANAGEMENT FISCAL POLICY FISCAL PROBLEMS FISCAL RESPONSIBILITY FISCAL SUSTAINABILITY FISCAL TRANSPARENCY FORWARD COMMITMENTS GNP GOVERNMENT AGENCIES GOVERNMENT DEBT GOVERNMENT ENTITIES GOVERNMENT INFORMATION GOVERNMENT INSTITUTIONS GOVERNMENT LEVELS GOVERNMENT POLICIES GOVERNMENT REPRESENTATIVES GOVERNMENT STRUCTURES GOVERNMENT SYSTEMS GOVERNMENTAL POLICY INSTITUTIONAL STRUCTURE INSURGENCY INVENTORY LABOR FORCE LAWS LEGAL ACTION LEGAL FRAMEWORK LEGISLATION LEGISLATIVE OVERSIGHT LEGISLATORS LEGISLATURE LIABILITY MANAGEMENT LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES MANAGEMENT MANAGEMENT INFORMATION SYSTEMS MANDATES MUNICIPAL GOVERNMENTS MUNICIPALITIES NATIONAL ACCOUNTS NATIONAL BUDGET NATIONAL GOVERNMENTS NATIONAL PLANNING NATIONAL PLANNING DEPARTMENT NATURAL RESOURCES OIL OPERATIONS PARASTATALS POLICY DECISIONS POLITICAL POWER PRESIDENCY PRIVATE SECTOR PROVINCIAL GOVERNMENTS PROVISIONS PUBLIC ADMINISTRATION PUBLIC AGENCIES PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FUNDS PUBLIC INVESTMENT PUBLIC MANAGEMENT PUBLIC PROCUREMENT PUBLIC RESOURCES PUBLIC RESOURCES MANAGEMENT PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR PERFORMANCE PUBLIC SERVANTS PUBLIC WORKS REGULATORY FRAMEWORK REGULATORY INTERVENTION REGULATORY POLICY ROYALTY SENATE SOCIAL POLICY SOCIAL SECURITY STATE-OWNED ENTERPRISES STRUCTURAL ADJUSTMENT SUBSIDIARY TAX TAX COLLECTION TAX POLICY TAX REFORMS TAX REVENUE TELECOMMUNICATIONS TRADEOFFS TREASURY In recent years Colombia has made important progress in its PFM systems and improved transparency in public finance. Important initiatives include adoption of the 2002 presidential anticorruption plan, improving the administration of publicly owned banks, clarifying responsibilities for managing expenditures among different levels of government, and introducing modem accounting concepts and procedures. These initiatives were supported by the rollout of new information systems covering the budget and local government finances, as well as the monitoring of public procurement. The Government enacted an important Fiscal Transparency and Responsibility Law in 2003, and strengthened the disciplinary code for public servants. The Government also strengthened the laws regulating contingent liability management in 1998, and is building a systematic framework to track and manage contingent liabilities. Systems are being put in place to track counter-guarantees for sub-national governments, lawsuits, and arrears to providers, and two special funds have been established to manage specific contingencies. Despite this progress, there remain problems in managing other liabilities. Among them: The Government has run up significant arrears with providers, largely because anticipated budget allocations from Treasury have been curtailed by revenue shortfalls. In addition, the handling of pension liabilities and contingent liabilities related to lawsuits represents an important financial management weakness. These contingent liabilities are aggravated by the Government's weak capacity to defend itself in court, and a reluctance to pursue legal action against civil servants, which implies that corruption involves little risk. In addition, the legal framework needed to flesh out constitutional mandates is not yet fully in place and is sometimes unclear, particularly in the areas of budget and fiscal control. 2012-06-20T20:08:59Z 2012-06-20T20:08:59Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5843141/colombia-country-financial-accountability-assessment http://hdl.handle.net/10986/8573 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 Latin America & Caribbean America South America Colombia |