Public Disclosure Copy The World Bank Implementation Status & Results Report Improving Quality and Efficiency of Public Sector Audit (P161359) Improving Quality and Efficiency of Public Sector Audit (P161359) LATIN AMERICA AND CARIBBEAN | Nicaragua | Governance Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 3 | ARCHIVED on 03-Jun-2019 | ISR37290 | Implementing Agencies: Republic of Nicaragua, Nicaragua Comptrollers' General Office Key Dates Key Project Dates Bank Approval Date:18-Apr-2017 Effectiveness Date:01-Jun-2017 Original Closing Date:30-Jun-2018 Revised Closing Date:28-Jun-2019 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to improve the quality and efficiency of public sector audit, thereby strengthening external oversight over the management of public resources in Nicaragua. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Moderately Satisfactory  Moderately Satisfactory Implementation Status and Key Decisions Project builds on prior support financed by the IDB in the updating of the standards, and relies significantly on collaboration and knowledge exchange with other SAIs in the Region, specifically Chile for the audit system. The latter required not only coordination, but also flexibility from the other SAI to make its staff available to accommodate the Nicaragua CGR’s requests. Despite factors outside the control of the CGR, efforts have been made to comply with the time bound plan agreed for each core activity and they are either completed or in the last phase of implementation. Under Components 1, the target of 1,000 auditors trained on the updated auditing standards (based on International Standards for Supreme Audit Institutions) was achieved, and the specialized training on performance and compliance/financial audit will be completed in June. The government 6/3/2019 Page 1 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Improving Quality and Efficiency of Public Sector Audit (P161359) audit system (SICA) that was made available by the Chile SAI was adapted, installed and tested in two pilot audits. Updated Code of Ethics and related documents have been approved, and implementation of the quality control system was completed. The CGR is taking action needed to secure completion of remaining activities by the Project closing date, June 28, 2019. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  --  Moderate  Moderate Comments Project risk continues to be considered moderate. Project design is simple and CGR has in place the capacity to implement the project activities given its projects. However, the cancellation of the knowledge exchange with Mexico, and the difficulties to find a viable option to carry out the specialized training delay in the initiation of the activity. The lack of completion of the training before the closing date puts at risk the achievement of one of the PDO indicators being taken though. From the fiduciary side, all procurement processes have been completed, and the contracts for the three individual consultants to provide the specialized the following days. Weaknesses identified in FM arrangements were overcome, but close guidance and monitoring to secure an orderly closing will be needed. Results Project Development Objective Indicators PHINDPDOTBL Integrated Government Audit System (SIAG) implemented and formally adopted for use in CGR's audits (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 07-Nov-2016 11-Jun-2018 11-Jun-2018 26-Jun-2019 PHINDPDOTBL 20% Reduction in the time (number of days) used to carry out financial audit commitments in public sector entities (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target 6/3/2019 Page 2 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Improving Quality and Efficiency of Public Sector Audit (P161359) Value 60.00 60.00 60.00 48.00 Date 07-Nov-2016 11-Jun-2018 11-Jun-2018 26-Jun-2019 Overall Comments Related activities have been completed, by indicators will be verified during the last supervision mission in June/2019. Intermediate Results Indicators PHINDIRITBL Core team of CGR auditors specialized in Performance audit (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 07-Nov-2016 11-Jun-2018 11-Jun-2018 21-Jun-2019 PHINDIRITBL SIAG adapted, installed and in operation for being used by CGR staff in pilot audits (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N Y Y Date 07-Nov-2016 11-Jun-2018 30-Apr-2019 30-Apr-2019 PHINDIRITBL Quality control system implemented in accordance with ISSAI No. 40 (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N Y Y Date 07-Nov-2016 11-Jun-2018 05-Apr-2019 28-Sep-2018 6/3/2019 Page 3 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Improving Quality and Efficiency of Public Sector Audit (P161359) PHINDIRITBL Core team of CGR auditors specialized in ISSAIs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Date 07-Nov-2016 11-Jun-2018 11-Jun-2018 21-Jun-2019 PHINDIRITBL CGR s auditors and internal auditors of 249 entities trained in overall use of updated NAGUN based on ISAISs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,000.00 1,000.00 1,000.00 Date 07-Nov-2016 11-Jun-2018 11-Jun-2018 30-Jan-2018 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P161359 TF-A4518 Effective USD 0.50 0.50 0.00 0.43 0.07 86% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P161359 TF-A4518 Effective 24-Apr-2017 01-Jun-2017 01-Jun-2017 30-Jun-2018 28-Jun-2019 Cumulative Disbursements 6/3/2019 Page 4 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Improving Quality and Efficiency of Public Sector Audit (P161359) Restructuring History Level 2 Approved on 13-Jul-2018 ,Level 2 Approved on 03-Apr-2019 Related Project(s) There are no related projects. 6/3/2019 Page 5 of 5 Public Disclosure Copy