Manual for Development Projects - Planning Commission
Manual for Development Projects - Planning Commission
Manual for Development Projects - Planning Commission
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Chapter-9<br />
Accounts, Audit and Reporting System<br />
a) Audit Reports<br />
9.24 Accounts will be maintained by the line departments in accordance with sound and locally recognized<br />
accounting principles and practices satisfactory to IDA. The Auditor General will collate the Statement of<br />
Expenditures (SOEs) and certify their eligibility <strong>for</strong> SAP funding. The accounts, SOEs, and documents<br />
relating to procurement are subject to audit at the end of each year by independent auditor, acceptable to<br />
IDA. The audit reports are to be submitted to IDA/World Bank no later than nine months, following the<br />
end of financial year. The reports will include an assessment of the adequacy of the accounting system and<br />
internal financial control, the reliability of the SOEs as a basis <strong>for</strong> credit disbursements, and compliance<br />
with agreed financial arrangements.<br />
b) Quarterly Reports by Federal SAP Secretariat<br />
9.25 The Federal SAP Secretariat, <strong>Planning</strong> & <strong>Development</strong> Division, Islamabad prepares and submits<br />
quarterly reports to IDA on progress and implementation of SAP programme. The report includes an<br />
assessment of the per<strong>for</strong>mance of each sector/province in implementing the agreed programme and the<br />
proposed re<strong>for</strong>m agenda <strong>for</strong> the year. It also assess of the flow and use of SAP funds.<br />
Releases of SAP Tied Funds<br />
Page 13 of 14<br />
9.26 Releases will be regulated by Finance Division to ensure that besides ongoing works on which<br />
construction is in progress or <strong>for</strong> which contracts have been awarded, funds are utilized only on SAP<br />
schemes.<br />
9.27 The federal as well as provincial SAP tied budgetary allocations are released on monthly basis in<br />
order to ensure smooth flow of funds. Federal SAP Secretariat and Federal Ministry of Finance have<br />
mutually agreed to release SAP tied 1/3 of Cash <strong>Development</strong> Loan (CDL) on automatic basis. The<br />
remaining 2/3 of SAP tied grants releases are conditional and are released after obtaining NOC from the<br />
Federal SAP Secretariat.<br />
9.28 The Federal Ministry of Finance as well as the Provincial Finance Departments are also to ensure that<br />
the funds <strong>for</strong> the SAP schemes are released timely and are expended/utilized only on approved SAP<br />
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9/23/2010
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