Posted by the PEFA Secretariat
The PEFA Program, launched in 2001, has succeeded in creating a credible and comprehensive Framework for the assessment of PFM functionality, which has been successfully applied in a large number of countries: countries with different income levels; different administrative traditions; and in different geographical regions.
The current Framework, although continuing to be relevant and applicable in a wide range of contexts, is being revised with the twin objectives of enhancing its relevance (by recognizing the developments in accepted good practice” which have taken place since it was launched) while preserving comparability over time, to the extent possible.
At their meeting in Paris in early December, the PEFA Partners made significant progress towards finalizing the revision of the Framework, including adding new indicators and modifying several existing dimensions in the light of the evolution in what constitutes “generally accepted good practice”.
The Partners also agreed on a process to test and consult Stakeholders on the revised Framework. The testing will have two distinct phases, the first of which will be restricted to a small number of volunteer countries where the Secretariat will support the assessment team to gather the data required to rate the indicators. Following this initial testing, the draft will be released for a period for Stakeholders to offer comments, in addition to which, opportunities will be sought to link with international and regional events in the area of public financial management and accountability, and the PEFA Partners will also arrange dedicated events where detailed discussions can take place.
Following the consultation period, the draft Framework will be modified as necessary before the second, more substantial testing phase is undertaken, which will be designed to ensure that the Framework is applicable across a wide range of countries contexts and different heritages. The revised Framework is expected to be released in 2015.
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