SAI Kazakhstan Participated in PEFA Seminar

A launch meeting on the PEFA[1] assessment was held in Kazakhstan, which was attended by representatives of the World Bank’s practice on institutions for Europe and Central Asia, the Asian Development Bank and employees of SAI Kazakhstan.

PEFA (Public Expenditure and Financial Accountability) provides an opportunity to assess the transparency, efficiency and sustainability of budget management, as well as identify key challenges and solutions.

During the seminar, the participants were presented with the basic principles of the PEFA methodology and successful examples of its implementation in different countries. 31 indicators for assessing various aspects of public financial management were discussed, which are divided into 7 categories, including transparency of public finances, reliability of budget planning and audit.

For reference: the last PEFA assessment in Kazakhstan was conducted in 2018.

[1] PEFA is a Public Expenditure and Financial Accountability program, a program for government spending and financial reporting. This is a methodology for evaluating the effectiveness of public finance management, which defines 94 characteristics (parameters) for 31 key components of public finance management in 7 main areas of activity.

The PEFA system has become the standard for evaluating the effectiveness of public financial management: more than 650 assessments have been conducted in more than 150 countries around the world for all income levels.