United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office National Security and International Affairs Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2000-04-06 monographic deposited born digital 62 p. GA 1.13:NSIAD-00-73 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-00-73 P0b002ee1803993a8 f:ns00073 DGPO 2010-08-12 2011-03-23 GAOREPORTS-NSIAD-00-73 machine generated eng fdlp REPORT GAOREPORTS-NSIAD-00-73 NSIAD-00-73 Bank management Foreign loans Foreign technical aid Political corruption Financial management Internal controls Risk management Letter Report NSIAD Pursuant to a legislative requirement, GAO provided information on the World Bank's management controls.<p/>GAO noted that: (1) in its efforts to address corruption concerns, the Bank has undertaken an ambitious and systematic effort to identify and correct key weaknesses in its system of management controls; (2) the Bank has made significant progress in meeting each of the five standards of an effective management control system; (3) however, challenges remain and further action will be required before the Bank can provide reasonable assurance that project funds are spent according to the Bank's guidelines; (4) GAO focused on Bank efforts to improve internal oversight mechanisms, project management, and public institutions in borrowing countries; (5) the Bank has added new oversight committees and staff to better monitor Bank operations and borrower procurement and financial management practices; (6) however, many of the public agencies in borrowing countries charged with implementing Bank-financed projects are managerially weak and lack skilled and experienced staff; (7) the Bank has focused more attention on better assessing the risks associated with corruption and weak managerial capacity of its borrowers; (8) however, the risks identified are not always raised to the attention of senior decisionmakers and fully addressed in risk mitigation plans; (9) the Bank has strengthened controls by devoting more attention and resources to supervising its projects more closely; (10) this has included hiring or training local Bank staff or contracting with consultants to review borrower procurement actions more closely; (11) however, the Bank and some borrowers do not always comply with Bank procedures on project auditing and Bank supervision of borrowers' procurement and financial management practices; (12) the Bank has introduced some new tools for monitoring and evaluating the implementation of Bank projects; (13) however, these tools do not provide enough information for Bank management to measure the extent to which some key management control problems are being resolved; (14) the Bank has significantly improved its dissemination and communication of information on its anticorruption efforts, both within the Bank and in borrowing countries; and (15) however, some borrower governments and nongovernmental organizations are still not aware of the Bank's hotline and other mechanisms for reporting fraud and corruption. https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-00-73/html/GAOREPORTS-NSIAD-00-73.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-00-73/pdf/GAOREPORTS-NSIAD-00-73.pdf GAO/NSIAD-00-73 https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-00-73 Letter Report GAO/NSIAD-00-73; World Bank: Management Controls Stronger, but Challenges; Bank management Foreign loans Foreign technical aid Political corruption Financial management Internal controls Risk management Volume 112 Page 2681-167 112 Stat. 2681-167 Public Law 105-277