## Nepal: Report on Observance of Standards and Codes: Fiscal Transparency Module

_IMF Staff Country Reports, October 11, 2007_

## Source details

**Canonical URL:** [Nepal: Report on Observance of Standards and Codes: Fiscal Transparency Module](https://www.imf.org/en/publications/cr/issues/2016/12/31/nepal-report-on-observance-of-standards-and-codes-fiscal-transparency-module-21401)

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## Bibliographic details
- Published: October 11, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451830095.002

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### Key findings on fiscal transparency
- Broad objectives of fiscal policy have been included in the budget speech.
- The sustainability of fiscal policy over the longer term is not examined.
- Public reporting on the performance of programs during budget implementation is weak.
- The government has undertaken a review of overall economic development and revised the estimates of revenue and expenditure.
- Internal control procedures are not fully effective.
- The accounting system needs to be substantially strengthened.

### Implications for public financial management
- Weak public reporting on program performance limits accountability during budget implementation.
- Lack of long-term fiscal sustainability analysis impedes evaluation of fiscal policy risks.
- Ineffective internal controls and a weak accounting system increase risks to the reliability of fiscal data and financial management.

### Suggested areas for reform (as indicated by the report)
- Introduce regular analysis of the sustainability of fiscal policy over the longer term.
- Strengthen public reporting on program performance during budget implementation to enhance transparency and accountability.
- Improve internal control procedures to ensure more effective financial oversight.
- Substantially strengthen the accounting system to improve the quality and reliability of fiscal information.

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/nepal-report-on-observance-of-standards-and-codes-fiscal-transparency-module-21401_