ABSTRACT
This chapter presents a three key attributes of the quality of budgetary and financial management. It aims to show how comprehensive and credible the budget is in a country, which stems, partly, from whether a roadmap or a strategy for national development exists. The chapter discusses the issues of enhanced accountability, both from accounting and auditing as well as fiscal reporting angles. It deals with discussions on, among others, public financial management (PFM) at subnational level given the rising trend of decentralization and devolution across the countries covered in the study. Tuvalu has prepared a comprehensive PFM Reform Roadmap, including measures to strengthen the various aspects of budgeting, debt management, and revenue administration. The phased and successful rollout of the Treasury Single Account in 2013 to all 75 districts in Nepal is a major notable PFM reform in that country which better allows real-time management and monitoring of public expenditures.
