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Court of Accounts, in discussions with PEFA evaluators

  • 15.07.2021
  • 392

The President of the Court of Accounts of the Republic of Moldova (CoARM), Marian Lupu, the CoARM’s Members and the team of managers of the country's supreme audit institution participated, on July 15, in a round of online discussions with World Bank evaluators, in the context of the PEFA evaluation mission at country level.

The PEFA evaluation mission in the Republic of Moldova was launched on July 13. The exercise will include the years 2018-2020, being organized a series of workshops and interviews with the responsible institutions.

Public Expenditure and Financial Accountability (PEFA) is a tool for assessing the status of public finance management (PFM). The donor community addressed the subject of such assessments in the early 2000s to ensure that the money allocated to the budgets of different countries will be managed, reported legally, efficiently and according to purpose. Thus, the EU’s Commission, the WB and the IMF have decided to streamline the PFM’s evaluation process in different countries, by developing and implementing a single mechanism that would meet donor expectations - the methodology for assessing public expenditure and PEFA financial statements.

The PEFA evaluation provides a detailed, consistent and evidence-based analysis of the PFM's performance at a given time. The PEFA methodology can be reapplied in successive evaluations to track developments over time. Until now, the Republic of Moldova has conducted four PEFA evaluations: in 2006, 2008, 2011 and 2015.

PEFA includes 31 indicators covering a wide range of PFM actions undertaken by governments. These indicators are grouped into seven components: budgetary reliability, transparency of public finances, asset and liability management, policy-based fiscal-budgetary strategies, predictability and control of budget execution, accounting and reporting, external control and audit.

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