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A well-functioning financial management information system (FMIS) provides timely, reliable, and comprehensive reports that support implementation of the government's fiscal policies and fiscal rules, and the formulating, controlling, monitoring, and executing of the budget. The architecture of FMISs has undergone a transformation since these systems were first developed in the 1980s. Rather than attempting to cover all or most public financial management (PFM) functions, many FMISs now focus on a few core functions such as accounting and reporting, budget execution, and cash management. Yet a survey of 46 countries shows that many face severe challenges in transforming their FMIS into an effective tool of fiscal governance. These challenges relate to weaknesses in the system's core functions, its institutional coverage, the information technology platforms it uses, and the ease of sharing data with other IT systems. This How to Note discusses how to address these chal-lenges. Replacing an FMIS with an entirely new system may not be an optimal strategy. By utilizing the latest technology, a better approach may be to update or replace one or more core modules of the system: the so-called modular approach. Implementation of an effective FMIS, however, depends on two critical preconditions: strong political motivation and commitment, and the system's ability to meet ongoing and anticipated PFM needs.
?Financial Management Information Systems: 25 Years of World Bank Experience on What Works and What Doesn?t? was prepared as an updated and expanded version of the FMIS review report drafted in 2003, to highlight the achievements and challenges observed during the design and implementation of Bank funded FMIS projects since 1984.

Sweden

International Monetary Fund. Monetary and Capital Markets Department

Published: 2017-10-05

Total Pages: 47


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This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for Sweden in the areas of supervision and oversight of financial market infrastructures (FMIs). FMIs in Sweden are subject to appropriate and effective supervision and oversight by the Finansinspektionen (Financial Supervisory Authority, FI) and Sveriges Riksbank (Riksbank). The scope, basis, and objectives of each authority’s supervision and oversight are clearly defined and disclosed. There is evidence that the authorities’ supervision and oversight have effectively improved risk management practices at Swedish FMIs. There is also effective cooperation between the FI and Riksbank in the supervision and oversight of FMIs. The risk management at Nasdaq Clearing appears to be sound.
Digitization promises to reshape fiscal policy by transforming how governments collect, process, share, and act on information. More and higher-quality information can improve not only policy design for tax and spending, but also systems for their management, including tax administration and compliance, delivery of public services, administration of social programs, public financial management, and more. Countries must chart their own paths to effectively balance the potential benefits against the risks and challenges, including institutional and capacity constraints, privacy concerns, and new avenues for fraud and evasion. Support for this book and the conference on which it is based was provided by the Bill and Melinda Gates Foundation “Click Download on the top right corner for your free copy..."
In recent years, information and communication technologies (ICTs) have gained significant importance and become vital to the operations of both organizations and individuals. However, there are numerous factors that have affected the adoption of ICTs including access and accessibility barriers, political participation, and social empowerment. This has attracted the attention of researchers who are interested in understanding the socioeconomic influences of ICT adoption and how these technologies impact the infrastructure of modern organizational activities. Recent Developments in Individual and Organizational Adoption of ICTs is a collection of innovative research on the methods of organizational and infrastructural advancement through the application of information and communication technologies. While highlighting topics including internet banking, supply chain management, and e-government services, this book is ideally designed for managers, researchers, policymakers, politicians, business practitioners, educators, decision scientists, strategists, and students seeking current research on the socioeconomic impact of ICT adoption.
The 'Forests Sourcebook' provides practical operations-oriented guidance for forest sector engagement toward the goals of poverty reduction, conservation and economic development. Intended to guide World Bank lending activities and projects, the 'Forests Sourcebook' offers information useful to a broad audience of practitioners, government agencies, and non-governmental organizations. The 'Sourcebook was developed in partnership with members of the Collaborative Partnership on Forests, including the Food and Agriculture Organization. The 'Sourcebook' provides background on key issues, lessons learned, and recommendations for practitioners on a number of topics including private sector engagement, forest governance, sustainable plantation and commercial harvesting, and forest information management systems. Giving insight into the complex interplay between different realms of development work that effect or are affected by forests, the 'Forests Sourcebook' is a valuable tool for any stakeholder involved in development or business projects that could have impact on forests.