Republic of Bulgaria : Institutional Fiduciary Assessment (IFA) of Road Executive Agency
Author(s)
World BankKeywords
TECHNICAL SPECIFICATIONSCONTRACT MANAGEMENT
INTEREST PAYMENTS
BILLS
EVALUATION CRITERIA
BENEFICIARY
COURT OF ACCOUNTS
INTERNAL AUDITORS
COUNCIL OF MINISTERS
FOREIGN BIDDERS
BUDGET REVISIONS
INTERNAL AUDIT
PUBLIC DISCLOSURE
ACCRUALS
AUDITS
FINANCIAL INDICATORS
PROCUREMENT DOCUMENTATION
INTERNAL AUDIT FUNCTION
BUDGETARY FUNDS
NATIONAL PROCUREMENT LAW
AUDIT OFFICE
FINANCIAL MANAGEMENT REQUIREMENTS
EXTERNAL BORROWING
TRANSACTION
DEPENDENT
EVALUATION REPORT
EXPENDITURE CATEGORIES
PUBLIC
QUALIFICATION REQUIREMENTS
OPEN TENDERS
ACCOUNTANTS
PUBLIC BUDGET
ALLOCATION OF FUNDS
PROCUREMENT
FOREIGN FUNDS
PUBLIC PROCUREMENT
BID SUBMISSION DEADLINE
FINANCIAL INFORMATION
REGISTRY OFFICE
LEGAL REQUIREMENTS
CONTRACT AWARDS
FINANCIAL STATEMENTS
SECRETS
BUDGETING
FINANCING REQUIREMENTS
PROCUREMENT RULES
LIQUIDITIES
BUDGET ALLOCATIONS
CONTRACTOR
BID
BIDS
CONTRACT AWARD
ASSET MANAGEMENT
TRANSPARENCY
INTERNATIONAL FUNDS
EVALUATION PROCESS
INTERNATIONAL FINANCIAL INSTITUTIONS
QUALIFIED FIRMS
FINANCIAL MANAGEMENT SPECIALIST
TURNOVER
STANDARD BIDDING
CONTRACT OPPORTUNITIES
HUMAN RESOURCES
PROCUREMENT ACTIONS
QUALIFIED STAFF
AWARD DECISION
EXTRA BUDGETARY FUNDS
DOCUMENTS FOR WORKS
FINANCES
RULES OF PROCEDURES
ACCOUNTING
PROCUREMENT SYSTEMS
PUBLIC INFORMATION
PROCUREMENT PROCEDURES
BID SECURITY
PUBLIC PROCUREMENT PROCEDURES
PROCUREMENT PRACTICES
CIVIL WORKS
COUNTRY PROCUREMENT ASSESSMENT
CONTRACT VALUE
PRICE ADJUSTMENT
PROCUREMENT RECORDS
QUALITY CONTROL
BIDDER
ACCESSION PROCESS
CASH MANAGEMENT
MANDATE
STANDARD BIDDING DOCUMENTS
DEADLINE FOR SUBMISSION
EXTERNAL AUDIT
FINANCIAL REPORTING
PUBLIC WORKS
ACCOUNT
CASH TRANSACTIONS
FOREIGN CONTRACTORS
GOOD PRACTICE
EXPENDITURES
SECURITIES
CHECKLIST
CERTIFICATION
NATIONAL BANK
BALANCE SHEET
INSTITUTIONAL DEVELOPMENT
CONTRACT DURATION
CONTRACT ADMINISTRATION
PROCUREMENT FILES
CONSULTING FIRM
CURRENCY
LOCAL CONSULTANTS
EMERGENCY FUNDS
FINANCIAL MANAGEMENT SYSTEM
TENDER DOCUMENTS
BUDGET PROCESS
OVERHEAD
PUBLIC PROCUREMENT SYSTEM
FINANCIAL REPORTS
MUNICIPAL BUDGETS
FRAUD
SCOPE OF WORK
PRIVATIZATION
BUSINESS OPPORTUNITIES
CONTROL FRAMEWORK
BUDGET CLASSIFICATION
CORPORATE GOVERNANCE
ACCESS TO INFORMATION
COST ESTIMATES
CHECKS
AUDIT REPORTS
CONSULTING FIRMS
TENDER PROCESS
MINISTRY OF FINANCE
ACCOUNTING SOFTWARE
APPLICABLE LAWS
AWARD OF CONTRACTS
PROCUREMENT FUNCTION
BUDGETARY SPENDING
ADVERTISEMENTS
PROCUREMENT ARRANGEMENTS
GOVERNMENT AGENCY
OVERHEAD COSTS
AUDIT FUNCTION
GOVERNMENT BUDGET
ACCOUNTING RULES
DISBURSEMENT
BUDGET APPROVAL
INFORMATION SYSTEM
BANK FINANCING
NATIONAL PROCUREMENT
PUBLIC INVESTMENT
PROCUREMENT CONTRACTS
EXPENDITURE
AUDITING
CONTRACTORS
CONTRACT MONITORING SYSTEMS
CONTRACT AWARD PROCESS
AUDIT DEPARTMENTS
PUBLIC FUNDS
CONSULTING CONTRACTS
CAPITAL INVESTMENTS
PUBLIC PROCUREMENT LAW
TREASURY
COMMERCIAL BANKS
LIABILITY
LOAN
EVALUATION COMMITTEE
ADMINISTRATIVE COURT
FOREIGN LOANS
BUDGET ALLOCATION
INTERNATIONAL STANDARDS
DEPRECIATION
PROCUREMENT SPECIALIST
ARBITRATION
ACCOUNTANT
RULES OF PROCEDURE
INVENTORY
EQUIPMENT
FIXED ASSET
PROCUREMENT STAFF
INFLATION
INTERNAL CONTROL SYSTEMS
BUDGET MANAGEMENT
FIDUCIARY RESPONSIBILITIES
INFORMATION SYSTEMS
INVESTMENT FUND
INVESTMENT PROJECTS
PUBLIC FINANCE
BUSINESS CYCLE
CLAIM
WINNING BIDDER
BUSINESS PROCESSES
CASH FLOW
CONSULTING SERVICES
COST OVERRUNS
FINANCIAL MANAGEMENT
FOREIGN COMPANIES
PAYMENT ORDERS
CONTRACTING AUTHORITY
RESTRICTED PROCEDURE
TREATIES
MINISTRY OF TRANSPORT
USER CHARGES
FIXED ASSETS
DECENTRALIZATION
Full record
Show full item recordOnline Access
http://hdl.handle.net/10986/8278Abstract
This Institutional Fiduciary Assessment (IFA) of the Road Executive Agency (REA) was commissioned by the World Bank (WB) country and infrastructure sector management in connection with the government's request to provide the World Bank financing for a new Road Infrastructure Project (project). The IFA was used as a tool to assess the performance of the REA in regard to the financial management and procurement systems in order identify the areas in REA's public finance management that can be further strengthened to improve utilization of public funds irrespective of the source of financing. The Government wants to improve the condition of class two and three roads so as to enhance the population's access to markets and enterprises in small towns and rural areas and enhance business opportunities in rural areas expected after the EU accession. Second, REA wants to improve its road management system in order to be able to prepare multiyear road maintenance programs under a constrained budget environment. Third, the Government wants REA to strengthen its technical and managerial capacity to efficiently implement ongoing and future road projects, especially those to be partly financed with EU grants. This section presents a summary table of fiduciary issues and risks attached to the financial management and procurement arrangements in connection with REA's re-organization into an extra-budgetary fund responsible for the national road network, including new construction and maintenance. The list of issues identified by the World Bank fiduciary team during field work from May to early June 2006 is by no means considered exhaustive. The team was not provided full access to all the required information and documents, thus, only enabling the team to assess REA's internal control framework at a very general level without the possibility of checking the application of the control in practice. Therefore, the IFA report presents only limited observations, findings and recommendations based on interviews and meetings both at REA and other relevant institutions listed. The report does not provide a detailed action plan but identifies the areas to be looked at more closely, including with the help of additional technical assistance.Date
2006-07Type
Economic & Sector Work :: Other Public Sector StudyIdentifier
oai:openknowledge.worldbank.org:10986/8278http://hdl.handle.net/10986/8278
Copyright/License
CC BY 3.0 IGOCollections
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