Fiscal Management Responsibility Act no 3 of 2003
ACKNOWLEDGMENT
The preparation of this report is a sound example of teamwork. The experience is a valuable one because not only did the report increase our understanding and knowledge on the assigned topic, i.e. „Assess the reporting requirements under the Fiscal Management
(Responsibility) Act no 3 of 2003 in the context of envisaged reforms in public sector financial management. It also taught us important lessons of how to incorporate out theoretical knowledge to enhance the understanding of practical implications. In addition, it also gave us a thorough opportunity to learn from other invaluable sources; despite conflicting ideas, the teams managed to join efforts and reach unanimous decisions at the end. It re-defined our skills of working with others to reach a final goal, and improved our communication as well as tolerance levels. However, this would not have been possible had we not been given the opportunity to present this report. Therefore, we would like to express the deepest appreciation to our course instructor,
EXECUTIVE SUMMARY
The summary describes the contents, reporting requirements under Fiscal Management
(Responsibility) Act no 3 of 2003 and This report tells us the International reform agenda on
Public Management & Fiscal Management (Responsibility) led by various international financial institution such as Word Bank, IMF,ADB.
Finally, in the end of the report Assessment of the fiscal Management (Responsibility) in the light of internationally accepted practices or principles has been concluded for the better evaluation of this Act.
01. INTRODUCTION
Fiscal Management (Responsibility) Act no 3 of 2003 had been enacted by the parliament to ensure that the financial strategy of the Government is based on principles of responsible
Fiscal Management; to facilitate public scrutiny of fiscal policy and performance; and to provide for matters connected there with or incidental thereto. It is submitting the contents
on
The preparation of this report is a sound example of teamwork. The experience is a valuable one because not only did the report increase our understanding and knowledge on the assigned topic, i.e. „Assess the reporting requirements under the Fiscal Management
(Responsibility) Act no 3 of 2003 in the context of envisaged reforms in public sector financial management. It also taught us important lessons of how to incorporate out theoretical knowledge to enhance the understanding of practical implications. In addition, it also gave us a thorough opportunity to learn from other invaluable sources; despite conflicting ideas, the teams managed to join efforts and reach unanimous decisions at the end. It re-defined our skills of working with others to reach a final goal, and improved our communication as well as tolerance levels. However, this would not have been possible had we not been given the opportunity to present this report. Therefore, we would like to express the deepest appreciation to our course instructor,
EXECUTIVE SUMMARY
The summary describes the contents, reporting requirements under Fiscal Management
(Responsibility) Act no 3 of 2003 and This report tells us the International reform agenda on
Public Management & Fiscal Management (Responsibility) led by various international financial institution such as Word Bank, IMF,ADB.
Finally, in the end of the report Assessment of the fiscal Management (Responsibility) in the light of internationally accepted practices or principles has been concluded for the better evaluation of this Act.
01. INTRODUCTION
Fiscal Management (Responsibility) Act no 3 of 2003 had been enacted by the parliament to ensure that the financial strategy of the Government is based on principles of responsible
Fiscal Management; to facilitate public scrutiny of fiscal policy and performance; and to provide for matters connected there with or incidental thereto. It is submitting the contents
on