## Mongolia: Report on Observance of Standards and Codes—Fiscal Transparency Update

_IMF Staff Country Reports, May 31, 2005_

## Source details

**Canonical URL:** [Mongolia: Report on Observance of Standards and Codes—Fiscal Transparency Update](https://www.imf.org/en/publications/cr/issues/2016/12/31/mongolia-report-on-observance-of-standards-and-codes-fiscal-transparency-update-18274)

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## Bibliographic details
- Published: May 31, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451826869.002

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### Summary
- This paper presents an update to the Report on the Observance of Standards and Codes (ROSC) on Fiscal Transparency for Mongolia.
- Since the publication of the ROSC in late 2001, Mongolia has made significant progress in enhancing transparency practices in the fiscal area.
- Actions have been taken under each of the four areas underlying the fiscal transparency code.
- A new Public Sector Management and Finance Law (PSMFL) was adopted in June 2002 to set the legal basis for public administration reforms, output budgeting, and accrual accounting.

### Key findings and actions
- Significant progress in enhancing fiscal transparency since late 2001.
- Implementation of actions across all four areas underlying the fiscal transparency code.
- Legal reform: adoption of the Public Sector Management and Finance Law (PSMFL) in June 2002.
- PSMFL objectives explicitly include:
  - setting the legal basis for public administration reforms;
  - establishing output budgeting; and
  - providing for accrual accounting.

### Publication metadata and scope
- Publication title: Mongolia: Report on Observance of Standards and Codes—Fiscal Transparency Update
- Publication date: May 31, 2005
- Series: Country Report No. 2005/170
- Issue: 170
- Volume: 2005
- Pages: 9
- DOI: https://doi.org/10.5089/9781451826869.002
- Stock No: 1MNGEA2005001
- ISBN: 9781451826869
- ISSN: 1934-7685
- Subjects: Budget planning and preparation, Public debt, Public financial management (PFM)
- Keywords: accounting, budget authority, budget entity, budget manager, Budget planning and preparation, CR, ISCR, payment arrears, year-end budget estimate

*International Monetary Fund. Mongolia: Report on Observance of Standards and Codes—Fiscal Transparency Update (May 31, 2005).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/mongolia-report-on-observance-of-standards-and-codes-fiscal-transparency-update-18274_