The team of consultants for the TA helped the Royal Government of Bhutan in developing procedures to implement the Public Finance Act (PFA) and capacity development in the various Financial Rules and Regulations, particularly at the line ministry and district levels, to support implementation of the PFA. The TA team developed a strategy to implement the PFA as well as built capacity of the line ministries and key agencies to implement the strategy. The key activities performed by the experts under this assignment are:
- Component 1: Fiscal Management
- Revising rules and regulations on budget management;
- Developing a multi-year rolling budget framework;
- Developing an intergovernmental fiscal transfer framework.
- Component 2: Treasury Management
- Consolidation of Treasury accounts;
- Strengthening financial management accounting and reporting;
- Developing cash management operations.
- Component 3: RAA Capacity Building
- Audit training curriculum development for expanded RAA mandate including performance, environment, IT, and financial audits;
- Acquiring and implementing IT systems and auditing software for improving operational efficiencies within RAA and for improving in-house training;
- Developing a sustainable RAA training program (based on training needs assessment) and outreach program, and implement the training and workshop on IT and auditing;
- Developing an institutional link-up with Royal Institute of Management (RIM) to support arrangement of training facilities, RIM resource staff, and other activities to strengthen capacity development;
- Drafting the IT Strategy for RAA to be linked with the national IT Strategy of Bhutan.
