The World Bank Implementation Status & Results Report Development of Public Sector Accounting (P159931) Development of Public Sector Accounting (P159931) EUROPE AND CENTRAL ASIA | Albania | Governance Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 3 | ARCHIVED on 29-Dec-2021 | ISR49720 | Implementing Agencies: Government of Albania, Ministry of Finance and Economy (Albania) Key Dates Key Project Dates Bank Approval Date: 11-May-2017 Effectiveness Date: 21-Jun-2018 Original Closing Date: 30-Jun-2020 Revised Closing Date: 31-Dec-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed development objective of the project is to: develop a road map for public sector accrual accounting implementation and to support the early stages of this reform, including building essential technical skills. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Implementation Status and Key Decisions Despite Covid-19 pandemic situation in the country, progress has been made on several key project activities. Under component 1, (i) the procurement of Technical Assistance for IPSAS implementation” was finalized, (ii) advanced with an in-depth analysis, including update for public sector accounting gap analysis and related business process review, under the same contract; (iii) started drafting of national guideline on public sector accounting under the same contract; and (v) advanced with the translation of IPSAS in local language. Under Component 2, (i) the procurement of “Development of Professional Accounting Skills and Sustainable Public Sector Accounting training mechanism was finalized; (ii) completion of the training needs assessment and training of 28 trainers for the public sector accounting (PSA) training program; (iii) initiated the pilot public sector training program, and other tasks under the same contract; and (iv) international certification of 19 MoFE staff on PFM. Under Component 3, the GDFC was supported with procurement expertise to fill the temporary vacancies. However, due to the constrained implementation timeline due to COVID-19, the satisfactory completion of the following outputs, such as (i) review of legal framework, national guideline and institutional responsibilities for public sector accounting, (ii) pilot PSA training and continuing professional development program, and (iii) PSA educational framework, as well as full achievement of the Project Development Objectives would not be possible according to the contractors. Risks Overall Risk Rating 12/29/2021 Page 1 of 5 The World Bank Implementation Status & Results Report Development of Public Sector Accounting (P159931) Risk Category Rating at Approval Previous Rating Current Rating Overall -- Moderate Moderate 5. Results Project Development Objective Indicators IN01084138 ►Financial reports are produced according to adopted new standards, based on the gradual implementation plan. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 30-Dec-2022 The technical assistance contract for the IPSAS implementation is in place since December 2020. The work has advanced on the preparation of an in-depth analysis, including the gap analysis and business process review, Comments: which underpins the development of public sector accounting requirements and national guidance on public sector accounting and financial reporting - outputs under the contract. IN01084139 ►Sustainable training and certification program for public accountants (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 30-Jun-2022 The technical assistance contract for “Development of Professional Accounting Skills and Sustainable Public Sector Accounting training mechanism” is in place since December 2020. The first phase, training of the trainers was conducted during April-October 2021. The Piloting of the first-time training on IPSAS based public sector Comments: accounting started in November 2021. Other outputs under the contract comprise a Continuing Professional Development program, an Educational Frameworks and a Certification Program. IN01084140 ►Institutional responsibilities within MOF are defined (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 30-Dec-2021 The technical assistance contract for the IPSAS implementation is in place since December 2020. Work has advanced on the preparation of an in-depth analysis, including the gap analysis and business process review, which underpins the development of public sector accounting requirements and national guidance on public Comments: sector accounting and financial reporting. Definition of institutional responsibilities on public sector accounting is one of the outputs of the contract. IN01084151 ►Improved quality of accounting, statistical and financial reporting evidenced by the PEFA assessment (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/29/2021 Page 2 of 5 The World Bank Implementation Status & Results Report Development of Public Sector Accounting (P159931) Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 30-Dec-2022 Intermediate Results Indicators IN01084152 ►Development of long term action plan for transition from the existing public sector accounting and financial reporting framework. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 30-Jun-2016 23-Oct-2019 23-Oct-2019 23-Oct-2019 IN01084156 ►Translation of selected IPSAS and related publications (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 30-Jun-2022 The translation arrangements are in place, including translation software, translator, reviewer and reviewing committee. Up to date, the glossary of key terms has been completed and the Conceptual Framework review is Comments: being finalized. The translation of IPSAS 1 to 27 is progressing well. IN01084153 ►Development of national guidance on public sector accounting and financial reporting (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 29-Apr-2022 The technical assistance contract for the IPSAS implementation is in place since December 2020. Work has advanced on the preparation of an in-depth analysis, including the gap analysis and business process review, Comments: which underpins the development of public sector accounting requirements and national guidance on public sector accounting and financial reporting - an output of the contract. IN01084154 ►Institutional responsibilities within MOF defined (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 29-Apr-2022 The technical assistance contract for the IPSAS implementation is in place since December 2020. Work has advanced on the preparation of an in-depth analysis, including the gap analysis and business process review, Comments: which underpins the development of public sector accounting requirements and national guidance on public sector accounting and financial reporting. Definition of institutional responsibilities on public sector accounting is one of the outputs of the contract. 12/29/2021 Page 3 of 5 The World Bank Implementation Status & Results Report Development of Public Sector Accounting (P159931) IN01084137 ►Training of a selected number of financial officers to obtain an internationally recognized professional qualification certificate (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 11.00 39.00 25.00 Date 30-Jun-2016 26-Jun-2020 16-Dec-2021 31-Dec-2021 IN01084155 ►Identification of sufficient number of trainers, and training through the train of trainers approach (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No Yes Yes Date 30-Jun-2016 26-Jun-2020 19-Mar-2021 30-Jun-2021 28 experts were selected from the public sector finance officers (from MoFE team, Treasury, and other key implementers), State Audit Institution (SAI), academia and Professional Accounting organization (PAOs). The Comments: training of trainers was conducted during April 2021 - October 2021. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P159931 TF-A3277 Effective USD 1.07 1.07 0.00 0.61 0.46 57% P159931 TF-A5134 Effective USD 0.38 0.38 0.00 0.00 0.38 0%% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P159931 TF-A3277 Effective 07-Nov-2017 03-Apr-2018 21-Jun-2018 30-Jun-2020 31-Dec-2021 P159931 TF-A5134 Effective 07-Nov-2017 03-Apr-2018 21-Jun-2018 30-Jun-2020 31-Dec-2021 Cumulative Disbursements 12/29/2021 Page 4 of 5 The World Bank Implementation Status & Results Report Development of Public Sector Accounting (P159931) Restructuring History Level 2 Approved on 30-Jun-2020 Related Project(s) There are no related projects. 12/29/2021 Page 5 of 5