The World Bank Implementation Status & Results Report Capacity Building for Public Sector Auditing (P125933) Capacity Building for Public Sector Auditing (P125933) EUROPE AND CENTRAL ASIA | Armenia | Financial Management Global Practice | Institutional Development Fund| FY 2012 |Seq No: 2 | ARCHIVED on 09-Dec-2014 | ISR17449 | Implementing Agencies: FFPMC, Chamber of Control Key Dates Key Project Dates Board Approval date:16-Feb-2012 Effectiveness Date:09-Nov-2012 Planned Mid Term Review Date:30-May-2014 Actual Mid-Term Review Date:14-Jul-2014 Original Closing Date:09-Nov-2015 Revised Closing Date:09-Nov-2015 Project Development Objectives Project Development Objective (from IDF Proposal) The objective of the Grant is to support the adoption of a capacity building strategy and action plan by the Armenian public sectorexternal audit and the development and use of standardized audit methods. These objectives will contribute to improve the operational capacity of the Armenian public sector external audit. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Capacity assessment and strategy development.:(Cost $126200.00 M) Development/adaption of the appropriate audit standards and methods.:(Cost $344500.00 M) Audit:(Cost $7300.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating -- Moderate Implementation Status and Key Decisions 12/9/2014 Page 1 of 4 The World Bank Implementation Status & Results Report Capacity Building for Public Sector Auditing (P125933) The methodology for financial and compliance audit in line with ISSAI has been developed and dedicated COC staff selected and trained on its application. The piloting of the metholodogy is going to be commenced in January 2015 with a roll out strategy to be developed as a result. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- -- Moderate Macroeconomic -- -- Moderate Sector Strategies and Policies -- -- Moderate Technical Design of Project or Program -- -- Low Institutional Capacity for Implementation and Sustainability -- -- Moderate Fiduciary -- -- Moderate Environment and Social -- -- Low Stakeholders -- -- Moderate Other -- -- -- Overall -- -- Moderate Results Indicators PHINDPDOTBL Adoption by COC of international public sector auditing standards and methods.(Text,Custom) Baseline Actual (Previous) Actual (Current) End Target No audit standards and No audit standards and Audits standards and The COC has Value methods are available to methods are available methods have drafted standards and 12/9/2014 Page 2 of 4 The World Bank Implementation Status & Results Report Capacity Building for Public Sector Auditing (P125933) be used by the COC. to be used by the COC. and will be piloted by methods COC during Jan-May available to be 2015, and will be followed. finalized by May 2015. Date 19-Mar-2013 29-Mar-2013 08-Dec-2014 02-Nov-2015 PHINDPDOTBL Knowledge by key stakeholders of the major gaps in the capacity and key constraints in the COC.(Text,Custom) Baseline Actual (Previous) Actual (Current) End Target An assessment of the COC was conducted and available revealing The COC the gaps in the capacity present and constraints. A No comprehensive capacity and No comprehensive Strategy for Introduction assessment of the constraints are assessment of the COC is of the Financial and COC is available to assessed and Value available to reveal the Compliance audit reveal the gaps in the key gaps in the capacity and methodology in COC is capacity and weaknesses constraints going to be developed constraints are identified by which will reflect the the COC and assessment results and government. propose a strategy to address key weaknesses. Date 19-Mar-2013 29-Mar-2013 08-Dec-2014 02-Nov-2015 PHINDPDOTBL Adoption of a strategy and implementation of a time bound action plan by COC.(Text,Custom) Baseline Actual (Previous) Actual (Current) End Target The capacity of the COC The COC to perform financial and capacity No capacity building compliance audit in line development No capacity building strategy and action with ISSAI was strategy and strategy and action plan on Value plan on COC assessed, and capacity action plan are COC strengthening is strengthening is building strategy and developed and available. available. action plan on COC followed by the strengthening will be COC and developed by May 2015. government. Date 19-Mar-2013 29-Mar-2013 08-Dec-2014 02-Nov-2015 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed 12/9/2014 Page 3 of 4 The World Bank Implementation Status & Results Report Capacity Building for Public Sector Auditing (P125933) P125933 TF-11901 Effective USD 0.48 0.48 0.00 0.31 0.17 65% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P125933 TF-11901 Effective 18-Sep-2012 18-Sep-2012 09-Nov-2012 09-Nov-2015 09-Nov-2015 Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/9/2014 Page 4 of 4