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QUESTION 2 The current Public Expenditure and Financial Accountability (PEFA) assessment of a country on three Pillars: Budget Reliability, Accounting and Finance and External Scrutiny

QUESTION 2 The current Public Expenditure and Financial Accountability (PEFA) assessment of a country on three Pillars: Budget Reliability, Accounting and Finance and External Scrutiny and Audit reveals the following scores. Pillars Indicators Scores Budget Reliability Aggregate expenditure outturn D Expenditure composition outturn D+ Revenue outturn C Accounting and Reporting Financial data integrity D In-year budget reports D Annual financial reports D External Scrutiny and Audit External audit B+ Legislative scrutiny of audit reports B+ You may refer to the PEFA framework https://www.pefa.org/resources for further explanations. Required: b) Discuss the strengths and weaknesses in the public financial management of the country in relation to the three pillars under consideration. (8 marks) c) Recommend ways of consolidating the strengths and improving the weaknesses you have identified in question (b) above. (9 marks) (Total 20 marks)

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