Introduction with FMRP project Component-4

The principal focus of Component 4 is the development and implementation of public accounting policies, procedures, systems and personnel to enhance the ongoing improvement in the quality of accounting data prepared, monitored and reported by the CGA office.

Major Achievements in the first three years of FMRP have included:

• Transaction Accounting System (TAS) development and installation- The TAS system was developed and has been installed in 49 Chief Accounts Offices, 54 District Accounts Offices and 5 Divisional Controllers of Accounts. The Upazilla Accounts Offices are also using TAS software at DAO site with time-sharing basis. (this work was carried out jointly by C4 and C6)
  
• Reconciled Annual Appropriation Accounts Implemented - Re-design and implementation of amended accounting procedures and system and re-design of central bank account structure to enable the production of comprehensive Ministry-wise data reconciled to Bangladesh Bank data.
  
• Establishment of specialist accounting units within CGA - Accounts Reconciliation Unit, Bank Reconciliation Unit and computerized accounting unit of Divisional Controller of Accounts (DCA) Dhaka established, resourced and trained to carry out essential accounting functions to facilitate improvement in the quality of financial data. Reconciliation of both accounting and bank data now carried out by CGA personnel.
  
• Provision of accounting guidance - Manuals prepared for DCA offices and Chief Accounts Offices (CAOs).
  During the final year of FMRP, the component is aiming to complete:
  
• Reconciled Annual Appropriation Accounts to be produced by each Ministry - Assist accounting offices and CGA office to produce monthly Ministry-wise accounting data reconciled to the recently amended Bangladesh Bank windows.
  
• Accounts Reconciliation Unit institutionalisation - Assist Accounts Reconciliation Unit to monitor and reconcile data and train accounting personnel in Ministry-wise accounting procedures and reporting.
  
• Bank Reconciliation Unit institutionalisation - Assist Bank Reconciliation Unit to carry out monthly bank reconciliations on both monthly aggregate and Ministry-wise cash movement.
  
• Foreign Aid Accounting Unit to be further developed - to enhance monitoring and reconciliation of foreign aid cash and expenditure data.
  
• International Accounting Standards - Assist CGA office to develop convergence plan with international cash accounting standards.
  
• Development of CAO capacity - Train and assist CAO personnel to enhance quality of Ministry financial data.