Budget Reporting

PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

Question

Accounting and reporting constitute a key pillar of an organised and transparent public financial management system in the public sector. The effectiveness of accounting and reporting reflects the integrity of financial data, the accuracy of in-year budget reports, and the quality of annual financial statements. In a recent Public Expenditure and Financial Accountability (PEFA) assessment, a local government had the following results:

Annual financial reporting: D
In-year budget report: D+
Financial data integrity: C

Required:
i) Explain the assessment performance to the Municipal Chief Executive of the local government.
ii) Recommend two strategies for improving the performance of the local government in each of the assessed areas.

Answer

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Tags: Budget Reporting, Data Integrity, EFA, financial assessment, Financial Reporting, Local Government
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: Nov 2024

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

Question

IPSAS 24 on Presentation of Budget Information in Financial Statements requires a comparison of budgeted amounts and the actual amount arising from execution of the budget to be included in the financial statements of entities. The standard also requires disclosure of an explanation of the reasons for material differences between the budget and actual amounts to ensure that public sector entities discharge their accountability obligations and enhance the transparency of their financial statements.

Ogoja State Government provided the following budget information for the year ended December 31, 2018.

Required:
Prepare a consolidated budget report for the year ended December 31, 2018.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budget and Actual Amounts, Budget Reporting, IPSAS 24, Public Sector Accounting, Transparency
Level: Level 2

Topic: Financial Reporting and Accountability in the Public Sector
Series: NOV 2019

PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

Question

Annual financial reporting: D
In-year budget report: D+
Financial data integrity: C

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budget Reporting, Data Integrity, EFA, financial assessment, Financial Reporting, Local Government
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: Nov 2024

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

Question

Ogoja State Government provided the following budget information for the year ended December 31, 2018.

Required:
Prepare a consolidated budget report for the year ended December 31, 2018.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budget and Actual Amounts, Budget Reporting, IPSAS 24, Public Sector Accounting, Transparency
Level: Level 2

Topic: Financial Reporting and Accountability in the Public Sector
Series: NOV 2019

Question Tag: Budget Reporting

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PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

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PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

You're reporting an error for "PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment"

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector"

PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

You're reporting an error for "PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment"

PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector

Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector"

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