Development of State Audit Capacity (ADB-47198-001)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 14, 2013
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia, Mongolian National Audit Office
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 4, 2017

Disclosed by Bank Mar 30, 2016


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Project Description
According to bank documents, the Government of Mongolia requested the ADB to provide technical assistance to strengthen the state audit capacity in Mongolia. The TA is a continuation of the support ADB has provided since the mid-1990s for strengthening audit capacity in Mongolia. Previous ADB support helped draft accounting and auditing laws, improved accounting systems of private and public entities to comply with the International Accounting Standards, and strengthened the capacity of accountants. The proposed TA will extend this assistance by helping further improve public audit quality and align public sector auditing with international standards and best practice. The impact will be improved quality of the Mongolian National Audit Office (MNAO) financial auditing, which will be measured by assessing whether the MNAO’s financial auditing complies with the ISSAI and ISA. The outcome will be improved financial auditing and audit quality control capacity of targeted auditors from the MNAO and private audit firms, which will be measured through a pre- intervention and post-training skills assessment.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Shiroishi, Hiroko Uchimura East Asia Department No contact information provided at the time of disclosure. ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main