Budget Low The Division of budgeting and accounting is responsible at the Ministry of for the preparation of the development and implementation of the annual budget for operating and for investment programs, in line with thebudget adopted under the Finance Law. Accounting Low The accounting system is based on accounting regulations applicable to public institutions (Royal Decree .n° 330-66, April 21, 1967) BO. n° 2840, April 26, 1967, p. 452) ; relating to the maintenance of public accounting in accordance with General Code of accounting Standards. Financial Reporting Moderate Low The Implementing agency is using GID to The FM consultant will administer its accounting. extract the report from GID and will ensure that The financial reporting for the project can be complementary information extracted from GID. requested in the financial While presenting the funds to the Ministry of report, if not able to extract Economy and Finance (MEF) to be budgeted, the it from GID, are completed split of the grant into components will be clearly in an spreadsheet and presented to allow the bank funds to be reported reviewed and submited to in GID by components. the Director for approval and submission to the Bank. The Financial report will require the presentation of the funds by category as well. Hence, an excel spreadsheet will be prepared where it will provide the information needed. Reconciliation with the system will be performed to ensure accuracy. Low Flow of Funds Financial flows come from the World Bank. The flow of funds from the World Bank are organized according to the Bank's disbursement procedures Internal control Substantial The internal control Moderate Not all procedures are documented. procedures are included in There is no system that will allow the extraction the implementation manual of the financial reporting. The external auditor of the Project will submit a report on internal control.
Budget The Division of budgeting and accounting is responsible at the Ministry of for the preparation of the development and implementation of the annual budget for operating and for investment programs, in line with thebudget adopted under the Finance Law. Low Accounting The accounting system is based on accounting regulations applicable to public institutions (Royal Decree .n° 330-66, April 21, 1967) BO. n° 2840, April 26, 1967, p. 452) ; relating to the maintenance of public accounting in accordance with General Code of accounting Standards. Low Financial Reporting The Implementing agency is using GID to administer its accounting. The financial reporting for the project can be extracted from GID. While presenting the funds to the Ministry of Economy and Finance (MEF) to be budgeted, the split of the grant into components will be clearly presented to allow the bank funds to be reported in GID by components. The Financial report will require the presentation of the funds by category as well. Hence, an excel spreadsheet will be prepared where it will provide the information needed. Reconciliation with the system will be performed to ensure accuracy. Moderate The FM consultant will extract the report from GID and will ensure that complementary information requested in the financial report, if not able to extract it from GID, are completed in an spreadsheet and reviewed and submited to the Director for approval and submission to the Bank. Low Flow of Funds Financial flows come from the World Bank. The flow of funds from the World Bank are organized according to the Bank's disbursement procedures Low Internal control Not all procedures are documented. There is no system that will allow the extraction of the financial reporting. Substantial The internal control procedures are included in the implementation manual The external auditor of the Project will submit a report on internal control. Moderate
PAD4840PAD0P14064B00PUBLIC000Final.docx