As mentioned above the Indicators have been revised to make them more specific and clearer and to enable the measurement of progress over time. RAA shall be providing the specific data and information to measure progress against the indicators. Further details on indicators are available in the Results Framework in the attached Project Paper. How will ET/SME be selected? Will RAA set-up pre-defined criteria and how will TTL monitor this selection? Having good selection criteria, especially if ET and SME are recruited from staff of RAA, can serve as mitigating strategy to guard against limited capacity. The team discussed this aspect with RAA and following is proposed and documented in Project Paper: The SMEs and ETs will be selected as per an acceptable criteria which would include: somebody who is already involved in iCAT course, experience in various audit and non-audit disciplines, qualification in respective fields; managerial position held (team leader position level) and gender representation. The task team will monitor the selection of the SMEs and ETs. Additional Proposals: The Funding Board, during its meeting on March 11th, approved the revised proposal received from Mongolia (amount $380,000). The proposal from Mexico was rejected since Mexico is an OECD country and SECO policy discourages grant funding to OECD countries. Mongolia Project The Mongolia Project has five components: Component 1: Peer review of MNAO’s financial activities Component 2: Comprehensive training needs assessment of the new MNAO structure Component 3: Design a comprehensive and sustainable continuing professional development strategy together with a detailed action plan Component 4: Development of customized training materials and delivery of the training as per the training program tailored to the capacity building needs identified by the peer review and training needs assessment and reflected on the continuing professional development strategy and program Component 5: Design and apply an updated private audit firm contracting process Grant Agreement between the World Bank and the authorities will be signed in the third quarter of July/September 2015. The Task Team has already started the dialogue with MNAO on identifying potential consultants to conduct the peer review of the MNAO’s financial auditing capabilities that is one of the first activities to be carried out in the early stages of project
As mentioned above the Indicators have been revised to make them more specific and clearer and to enable the measurement of progress over time. RAA shall be providing the specific data and information to measure progress against the indicators. Further details on indicators are available in the Results Framework in the attached Project Paper. How will ET/SME be selected? Will RAA set-up pre-defined criteria and how will TTL monitor this selection? Having good selection criteria, especially if ET and SME are recruited from staff of RAA, can serve as mitigating strategy to guard against limited capacity. The team discussed this aspect with RAA and following is proposed and documented in Project Paper: The SMEs and ETs will be selected as per an acceptable criteria which would include: somebody who is already involved in iCAT course, experience in various audit and non-audit disciplines, qualification in respective fields; managerial position held (team leader position level) and gender representation. The task team will monitor the selection of the SMEs and ETs. Additional Proposals: The Funding Board, during its meeting on March 11th, approved the revised proposal received from Mongolia (amount $380,000). The proposal from Mexico was rejected since Mexico is an OECD country and SECO policy discourages grant funding to OECD countries. Mongolia Project The Mongolia Project has five components: Component 1: Peer review of MNAO’s financial activities Component 2: Comprehensive training needs assessment of the new MNAO structure Component 3: Design a comprehensive and sustainable continuing professional development strategy together with a detailed action plan Component 4: Development of customized training materials and delivery of the training as per the training program tailored to the capacity building needs identified by the peer review and training needs assessment and reflected on the continuing professional development strategy and program Component 5: Design and apply an updated private audit firm contracting process Grant Agreement between the World Bank and the authorities will be signed in the third quarter of July/September 2015. The Task Team has already started the dialogue with MNAO on identifying potential consultants to conduct the peer review of the MNAO’s financial auditing capabilities that is one of the first activities to be carried out in the early stages of project
Agenda-item-3.-Progress-report-for-SAI-CDF.docx