Topic: Public expenditure and financial accountability framework

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PSAF – Nov 2016 – L2 – Q2d – Public Expenditure and Financial Accountability Framework.

Identifying essential provisions of the Financial Administration Act to protect public funds.

Question

In Ghana, the government has enacted the Financial Administration Act, 2003 and the Financial Administration Regulations (L.I. 1802) to ensure that public funds and resources are properly safeguarded and are used economically, efficiently, effectively and with due propriety.

Required:
Identify TWO essential provisions of the Financial Administration Act and Regulations meant to protect public funds and safeguard public resources and property. (4 marks)

Answer

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Tags: Financial Administration, Financial Laws, Government Spending, Public Funds, Public Resources
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q2a – Public Procurement.

Explain the stages involved in the national competitive tendering process for public procurement.

Question

Competitive tendering is a method of public procurement that seeks tenders from all potential suppliers or contractors to achieve value for money in public procurement. Competitive tendering is carried out in accordance with the competitive tendering procedures under the public procurement law.

Required: Explain FOUR procedures involved in carrying out national competitive tendering for the procurement of goods, services, and works. (6 marks)

Answer

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Tags: Competitive Tendering, Financial Laws, Government Spending, Procurement Procedure, Public Procurement
Level: Level 2

Topic: Public expenditure and financial accountability framework, Public Procurement, Public sector financing initiatives
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q3c – Public expenditure and financial accountability framework.

Discuss four policy objectives ensuring adherence to public accountability principles by government institutions.

Question

Public accountability requires clear definition of responsibilities of public officials and a clear understanding of relationships between public officials and stakeholders on the need for transparency and accountability.
Required:
Discuss FOUR policy objectives of government that ensure that government institutions adhere to the principles of public accountability. (4 marks)

Answer

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Tags: Governance, Government Institutions, Policy Objectives, Public Accountability, Transparency
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q4e – Public Expenditure and Financial Accountability Framework.

Identify four procedures necessary for effective management of public expenditure.

Question

Effective management of public expenditure is an essential mechanism for the effective allocation and the use of public funds to achieve the nation’s policy objectives.

Required:
Identify four procedures necessary for effective management of public expenditure. (4 marks)

Answer

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Tags: Financial management, ICAG, Procedures, Professional Level 2, Public Expenditure
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q3d – Public sector fiscal planning and budgeting.

Explain four methods used by the government to ensure compliance with budgetary control regulations.

Question

The budgetary control function ensures effective control over government units in public spending and accountability for all funds, property, and other assets for which each department or agency is responsible.
Required:
Explain FOUR methods used by the government to ensure that government entities comply with budgetary control regulations. (4 marks)

Answer

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Tags: Budgetary Control, Government Accountability, Public Financial Management, Public Spending
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q5e – Public expenditure and financial accountability framework

Discuss how the Controller and Accountant-General ensures public accountability.

Question

“There shall be appointed in accordance with Article 195 of the 1992 Constitution, a Controller and Accountant-General who is responsible to the Minister of Finance.”Required:
Discuss how the Controller and Accountant-General ensures public accountability. (3 marks)

Answer

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Tags: Controller and Accountant General, ICAG, Public Accountability
Level: Level 2

PSAF – May 2021 – L2 – Q3a – Public expenditure and financial accountability framework

Explain the objective of the PEFA framework, its uses, and the sources of information for PEFA assessment.

Question

The Public Expenditure and Financial Accountability (PEFA) Framework has gained worldwide recognition due to its contribution to public financial management discussions. It is one framework that has received acceptance across the globe.

Required:
i) Explain the objective of the PEFA framework. (2 marks)
ii) Discuss FOUR (4) uses or applications of the PEFA Reports. (4 marks)
iii) Explain FOUR (4) sources of information for the PEFA assessment. (4 marks)

Answer

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Tags: Financial Reporting, Framework Objectives, PEFA, PEFA Report, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: MAY 2021

PSAF – Nov 2020 – L2 – Q3 – Public expenditure and financial accountability framework | Financial statements discussion and analysis

Explain the PEFA framework, compute financial ratios for two countries, and analyze their financial performance and position.

Question

a) Public financial management is critical for the successful implementation of government policies and developmental goals. Public financial management is a linchpin that ties together available resources, delivery of services, and achievement of government policy objectives. The need to assess the extent to which public financial management systems operate led to the development of the Public Expenditure and Financial Accountability (PEFA) framework by a coalition of seven international development partners. Since 2001, the PEFA framework has received recognition across the world.

Required:

i) Explain the purpose of the PEFA framework. (3 marks)
ii) Explain the key pillars of an open and orderly public financial management system under the PEFA framework. (7 marks)

b) Country A and Country B are Sub-Saharan African Countries that attained independence around the same period. Presented below are the financial statements of the two countries:

Statement of Financial Performance for the year ended December 31, 2018

Description	Country A (GH¢ million)	Country B (GH¢ million)
Domestic Tax	26,450	17,000
International trade tax	18,200	21,330
Non-tax revenue	7,500	12,800
Grants	1,300	1,100
Total revenue	53,450	52,230
Compensation for employees	29,800	20,300
Use of goods and services	10,300	14,000
Consumption of fixed capital	240	280
Exchange difference	990	600
Interest	19,660	10,460
Subsidies	510	120
Other expenses	1,600	1,430
Total Expenditure	63,100	47,190
Net Operation Result	(9,650)	5,040

Statement of Financial Position as at 31 December 2018

Description	Country A (GH¢ million)	Country B (GH¢ million)
Non-Current Assets
Property, plant and equipment	2,450	22,400
Equity investment	8,000	5,500
Total Non-Current Assets	10,450	27,900
Current Assets
Receivables	6,700	8,400
Cash and cash equivalent	4,700	18,000
Total Current Assets	11,400	26,400
Total Assets	21,850	54,300

Description	Country A (GH¢ million)	Country B (GH¢ million)
Funds and Liabilities
Accumulated Fund	(80,200)	4,800
Current Liabilities
Payables	6,200	4,100
Trust monies	1,400	900
Domestic debt	16,000	4,500
Total Current Liabilities	23,600	9,500
Non-current Liabilities
Domestic debt	36,000	18,000
External debt	42,450	22,000
Total Non-current Liabilities	78,450	40,000
Total Funds and Liabilities	21,850	54,300

Required:

a) From the information provided, compute for the two countries respectively:
i) Grant to Revenue ratio
ii) Wage Bill to Tax Revenue ratio
iii) Interest to Revenue ratio
iv) Capital Assets ratio
v) Debt to GDP ratio
vi) Capital expenditure per Capita
(4 marks)

b) Based on the result in question (a), write a report discussing and analyzing the financial performance and financial position of the two countries. Include in your report the limitations of the analysis of the two countries. (6 marks)

Answer

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Tags: Financial Analysis, Financial Ratios, PEFA, Public Financial Management, Public Sector Accounting
Level: Level 2

PSAF- Nov 2023 – L2 – Q3a – Public Expenditure and Financial Accountability Framework

Explain PEFA framework outcomes, limitations, and pillars of PFM systems.

Question

The Finance Minister at a recent public forum on Public Financial Management (PFM) Reforms indicated in his address that the wave of PFM reforms in Ghana has continued throughout the last three decades. The PFM reforms have helped Ghana to attain notable PFM capabilities over the periods, including stronger legislative base and external oversight function. This is evidenced by the country’s improved performance in the 2018 Public Expenditure and Financial Accountability (PEFA) scores in these dimensions.

Required:

As the Head of Finance of your entry;

i) Explain the THREE (3) key outcomes of the PEFA framework. (3 marks)
ii) State TWO (2) limitations with respect to the scope of the PEFA framework. (3 marks)

iii) Discuss FOUR (4) of the broad activity areas (pillars) of the PEFA framework used in assessing the quality of Public Financial Management Systems. (4 marks)

Answer

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Tags: Fiscal Discipline, PEFA Framework, Resource Allocation, Service Delivery
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2023

PSAF – Mar 2023 – L2 – Q3a – Public expenditure and financial accountability framework

Describes the scope and goals of the Public Expenditure and Financial Accountability (PEFA) framework.

Question

The Public Expenditure and Financial Accountability (PEFA) program was initiated in 2001 by seven international development partners: The European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland, and the United Kingdom. PEFA began as a means to harmonize the assessment of PFM across the partner organizations. It subsequently established a standard methodology for PFM diagnostic assessments, the PEFA framework. Since 2001, PEFA has become the acknowledged standard for PFM assessments.

Required:
Describe the scope and goals of the PEFA framework.

Answer

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Tags: Accountability, International Development, PEFA, PFM Assessment, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: MAR 2023

PSAF – Nov 2016 – L2 – Q2d – Public Expenditure and Financial Accountability Framework.

Identifying essential provisions of the Financial Administration Act to protect public funds.

Question

Required:
Identify TWO essential provisions of the Financial Administration Act and Regulations meant to protect public funds and safeguard public resources and property. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Administration, Financial Laws, Government Spending, Public Funds, Public Resources
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q2a – Public Procurement.

Explain the stages involved in the national competitive tendering process for public procurement.

Question

Required: Explain FOUR procedures involved in carrying out national competitive tendering for the procurement of goods, services, and works. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive Tendering, Financial Laws, Government Spending, Procurement Procedure, Public Procurement
Level: Level 2

Topic: Public expenditure and financial accountability framework, Public Procurement, Public sector financing initiatives
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q3c – Public expenditure and financial accountability framework.

Discuss four policy objectives ensuring adherence to public accountability principles by government institutions.

Question

Answer

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Tags: Governance, Government Institutions, Policy Objectives, Public Accountability, Transparency
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q4e – Public Expenditure and Financial Accountability Framework.

Identify four procedures necessary for effective management of public expenditure.

Question

Effective management of public expenditure is an essential mechanism for the effective allocation and the use of public funds to achieve the nation’s policy objectives.

Required:
Identify four procedures necessary for effective management of public expenditure. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial management, ICAG, Procedures, Professional Level 2, Public Expenditure
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q3d – Public sector fiscal planning and budgeting.

Explain four methods used by the government to ensure compliance with budgetary control regulations.

Question

Answer

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Tags: Budgetary Control, Government Accountability, Public Financial Management, Public Spending
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2016

PSAF – Nov 2016 – L2 – Q5e – Public expenditure and financial accountability framework

Discuss how the Controller and Accountant-General ensures public accountability.

Question

Answer

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Tags: Controller and Accountant General, ICAG, Public Accountability
Level: Level 2

PSAF – May 2021 – L2 – Q3a – Public expenditure and financial accountability framework

Explain the objective of the PEFA framework, its uses, and the sources of information for PEFA assessment.

Question

Answer

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Tags: Financial Reporting, Framework Objectives, PEFA, PEFA Report, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: MAY 2021

PSAF – Nov 2020 – L2 – Q3 – Public expenditure and financial accountability framework | Financial statements discussion and analysis

Explain the PEFA framework, compute financial ratios for two countries, and analyze their financial performance and position.

Question

Required:

i) Explain the purpose of the PEFA framework. (3 marks)
ii) Explain the key pillars of an open and orderly public financial management system under the PEFA framework. (7 marks)

b) Country A and Country B are Sub-Saharan African Countries that attained independence around the same period. Presented below are the financial statements of the two countries:

Statement of Financial Performance for the year ended December 31, 2018

Description	Country A (GH¢ million)	Country B (GH¢ million)
Domestic Tax	26,450	17,000
International trade tax	18,200	21,330
Non-tax revenue	7,500	12,800
Grants	1,300	1,100
Total revenue	53,450	52,230
Compensation for employees	29,800	20,300
Use of goods and services	10,300	14,000
Consumption of fixed capital	240	280
Exchange difference	990	600
Interest	19,660	10,460
Subsidies	510	120
Other expenses	1,600	1,430
Total Expenditure	63,100	47,190
Net Operation Result	(9,650)	5,040

Statement of Financial Position as at 31 December 2018

Description	Country A (GH¢ million)	Country B (GH¢ million)
Non-Current Assets
Property, plant and equipment	2,450	22,400
Equity investment	8,000	5,500
Total Non-Current Assets	10,450	27,900
Current Assets
Receivables	6,700	8,400
Cash and cash equivalent	4,700	18,000
Total Current Assets	11,400	26,400
Total Assets	21,850	54,300

Description	Country A (GH¢ million)	Country B (GH¢ million)
Funds and Liabilities
Accumulated Fund	(80,200)	4,800
Current Liabilities
Payables	6,200	4,100
Trust monies	1,400	900
Domestic debt	16,000	4,500
Total Current Liabilities	23,600	9,500
Non-current Liabilities
Domestic debt	36,000	18,000
External debt	42,450	22,000
Total Non-current Liabilities	78,450	40,000
Total Funds and Liabilities	21,850	54,300

Required:

Answer

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Tags: Financial Analysis, Financial Ratios, PEFA, Public Financial Management, Public Sector Accounting
Level: Level 2

PSAF- Nov 2023 – L2 – Q3a – Public Expenditure and Financial Accountability Framework

Explain PEFA framework outcomes, limitations, and pillars of PFM systems.

Question

Required:

As the Head of Finance of your entry;

i) Explain the THREE (3) key outcomes of the PEFA framework. (3 marks)
ii) State TWO (2) limitations with respect to the scope of the PEFA framework. (3 marks)

iii) Discuss FOUR (4) of the broad activity areas (pillars) of the PEFA framework used in assessing the quality of Public Financial Management Systems. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fiscal Discipline, PEFA Framework, Resource Allocation, Service Delivery
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: NOV 2023

PSAF – Mar 2023 – L2 – Q3a – Public expenditure and financial accountability framework

Describes the scope and goals of the Public Expenditure and Financial Accountability (PEFA) framework.

Question

Required:
Describe the scope and goals of the PEFA framework.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, International Development, PEFA, PFM Assessment, Public Financial Management
Level: Level 2