Steam Iron

State officials are looking at ways to implement World Bank recommendations to improve the countrys financial accountability.
The recommendations are part of the World Banks draft Country Financial Accountability (CFAA) study.rn

rnSpeaking at a workshop to discuss the report, Treasury Secretary Charita Ratwatte called for a Project Director to be appointed to oversee the rollout of proposals as policy makers would not be able to implement the recommendations successfully as they had other priorities at hand. rn

rnThe draft report finds most oversight bodies including the Auditor Generals Department, lacking powers to probe into firms, independence from the political system and heavily dependent on state funds to run its operations. rn

rnMeanwhile, the study is also calling present policies on financial accountability ldblquote not enforceable
dblquote and lacking in provisions for demanding performance accountability. rn

rnThe report says management control procedures and accounting practices