Regional Conference on E-Learning Modules for Improving ADB Project Financial Statements and Project Cost Estimates 2017 | Women’s Finance Exchange | 26 April 2017 | Manila, Philippines

The Regional Conference on e-Learning Modules for Improving ADB Project Financial Statements and Project Cost Estimates, to be held on 26-27 April 2017 in Manila, Philippines, is a forum for representatives from executing and implementing agencies, delegates from ministries, and ADB staff from resident missions and HQ to learn about the knowledge products and be acquainted with regional developments in public sector transition to accrual accounting and innovations in public financial management.

Background
ADB is a strong advocate of good governance in promoting sustainable development and enhancing economic efficiency and productivity. As such, ADB’s governance policy and its Second Governance and Anticorruption Action Plan emphasize improving the implementation of governance and anticorruption policies in sectors and subsectors where ADB is active. Moreover, in its Strategy 2030 Framework, ADB underscores its role as a promoter of structural and sector reforms for the furtherance of good governance.

As part of its greater objective of fostering good governance in its loan and grant projects, the ADB requires the preparation of project financial statements in accordance with international accounting standards . High quality project financial reporting ensures that the proceeds of any loan (including grants) made, guaranteed, or participated in by ADB are used only for the purposes intended. ADB has chosen to frame its financial reporting requirements using international accounting standards since these have been developed by an independent standard-setting body using a transparent process through consultation with expert stakeholders.

ADB also requires that project cost estimates be robust, well-structured, and closely approximate the probable costs of constructing or implementing a project. This ensures that projects are implemented with due consideration for economy and efficiency. Robust project cost estimates entail that systems and policies are in place to guide the estimation process.

ADB developed e-learning modules to provide guidance on its requirements on project financial reporting and project cost estimates. It partnered with internationally recognized institutions, such as the Chartered Institute of Public Finance and Accountancy, for the creation of technology-based solutions to facilitate transfer of knowledge and promote innovation.

Speakers for 2017

Ms. Joana Sales,
Head of Learning,
Chartered Institute of Public Finance and Accountancy

Mr. Steven Cain,
Technical Manager,
Financial Reporting and Auditing Standards,
Chartered Institute of Public Finance and Accountancy

Mr. Neil Wallace,
Assistant Controller, ADB

Ms. Srinivasan Janardanam,
Principal Financial Management Specialist, ADB

Mr. Abbas Kizilbash,
Senior Financial Management Specialist, ADB

Ms. Sherazade Shafiq,
Financial Management Specialist, ADB