4/14/2021
The reforms of introducing International Public Sector Accounting Standards (IPSASs) into public sector accounting in Mongolia step by step have been implemented under the "Strengthening Fiscal and Financial Stability project" jointly implemented by the Ministry of Finance Mongolia and the World Bank.
One of the main steps aiming at the reform is to create opportunities and conditions for the public sector accounting professionals to continuously develop their knowledge and skills and create an online channel for exchange of experiences.
Thus, it provides a real opportunity for the accountants to obtain professional advice and information in a timely, quality, and accessible manner, regardless of their location, the quarantine, and the circumstances caused by the pandemic. Approximately 6,000 accountants of budgetary organizations across the 21 provinces in Mongolia and nine districts in the capital city are available to study the 21 topics of the IPSASs with the context of theory and practices through the video lessons with a total length of 420 minutes.
Thanks to the opportunity from a single source, all accountants in the public sector will receive recommendations and information on applying the standards in their day-to-day work, having a common ground understanding, and obtaining practical advice on the issues they face in the IPSASs. This reform will make a tangible contribution to the objective of "Increasing budget comprehensiveness and transparency through better control, reporting, and expansion of the Government Financial Management Information System capabilities."
The training program, materials, and video lessons of the e-learning of the IPSASs are available on the Ministry of Finance website https://mof.gov.mn/article/entry/ulsiin_sectoriin_nbb.
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WORLD BANK WORKING GROUP MET WITH PIU AND IMPLEMENTING ORGANIZATIONS REGARDING THE COMPLETION REPORT OF THE STRENGTHENING GOVERNANCE IN MONGOLIA PROJECT
4/3/2023
Concerning the Strengthening Governance in Mongolia project, which was completed on February 28, 2023, the World Bank working group to develop the project completion report had an official meeting with Project Implementation Unit (PIU) and implementing organizations on March 30, 2023. The purpose of the working group meeting is to review the implementation of the project, the results achieved, and the fulfillment of the project indicators. |
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PERFORMANCE BASED FINANCING: INSPIRING NEW APPROACHES TO PUBLIC FINANCIAL MANAGEMENT IN HEALTH AND EDUCATION
3/23/2023
Performance based financing (PBF) links funds or payments to service providers to results achieved and gives them considerable autonomy in the use of these funds. The strategic approach is appealing to many individuals and organizations as it motivates them to perform better and channels resources directly to the frontlines. This in turn fosters greater accountability. Using this approach has been popular in different sectors with some promising results emerging. |
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AN INTEGRATED SYSTEM FOR RESULTS-BASED MEDIUM-TERM BUDGET PLANNING: IN ACHIEVING THE GOALS OF IMPROVING BUDGET PLANNING, BUDGET EFFICIENCY AND PROGRAM OUTCOME.
3/7/2023
Under the scope of improving public financial management, Mongolia is aiming to introduce result-oriented medium-term budgeting, transitioning from the traditional input-based budgeting. This goal is aligned with development policy of Mongolia to shift from medium-term fiscal framework (MTFF) to medium-term expenditure framework (MTEF). |
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The MOF is entering the new phase of PFM Reform Action Plan
2/28/2023
Within the framework of the European Union financed, World Bank managed “Strengthening Governance in Mongolia” project, the Ministry of Finance, in compliance with the “Sustainable Development Vision 2030” and the “Action Program of the Government of Mongolia for 2016-2020”, has approved and implemented the Public Financial Management (PFM) Reform Strategy and the Action Plan for 2018-2022. The overarching objective of the strategy was to improve governance and achieve effective resource allocation and efficient public service delivery. The implementation status of the PFM Action Plan is indicated as “Certain results have been achieved” at the rate of 85 percent. |
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LAUNCHED BETA VERSION OF THE REDEVELOPED GLASS ACCOUNT PORTAL
1/20/2023
The Ministry of Finance Mongolia has developed and successfully launched the new version of the Glass Account Portal in 2023 within the framework of the Strengthening Governance in Mongolia Project jointly implemented by the EU and the World bank. |
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New systems and services are added in the Intermediate service platform for fiscal and financial systems
1/11/2023
The Ministry of Finance Mongolia has developed and successfully launched the Intermediate Service Platform (ISP) in 2022 within the framework of the Strengthening Governance in Mongolia Project. The main purpose of the system is to provide a possibility of information /web services/ exchange between the independent systems of the Ministry of Finance and other organizations in a easy and flexible way. In addition, it is solving the issues of overlapping connections and development between many information systems and organizations, transferring them to a unified standard, making it has no complexity, and more secure. |
