Issues in Conversion of as in Municipalities ICAI -09.06
Transcript of Issues in Conversion of as in Municipalities ICAI -09.06
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Issues in the Conversion ofIssues in the Conversion of Accounting System in Municipalities Accounting System in Municipalities
-- Role of Chartered AccountantsRole of Chartered Accountants
Issues in the Conversion ofIssues in the Conversion of Accounting System in Municipalities Accounting System in Municipalities
-- Role of Chartered AccountantsRole of Chartered Accountants
CA. R.S.MuraliManaging Director
NCR Consultants Limited
ICAIICAI State Level CPE ConferenceState Level CPE Conference
BangaloreBangalore
99thth June 2007June 2007
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Presentation SchemaPresentation Schema
1. The Genesis2. Why Modern Accounting?
3. The Approach
4. The Actual Process
5. The Content6. Implementation Issues & Strategies
7. Lessons Learnt ± Models for CAs
The focus of this presentation is on Municipalitiesthough applicable to all Local Bodies (atnational level double entry has beenrecommended for ULB and not for PRIs)
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1 - The Genesis1 - The Genesis
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Nothing is Permanent in this World except Change.
Nothing is Permanent in this World except Change.
Govt Institutions have been following Cash based Accounting system focus on spending rather than raising money
Improved financial management necessitates a shift tomodern accounting system Accrual Accounting System
Being attempted in Government last two decades New Zealand, Ireland, Botswana«.have Country
Balance Sheets
International Federation of Accountants (IFAC) plays aleading role
Various countries use various approaches and methods(IFAC/GASB)
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The Indian ScenarioThe Indian Scenario
Mission Mode Project Government of India (MoUD)incorporates Accrual Accounting System National
Accounting Manual Model Municipal Law ICAI brought out guidelines for Municipal Accounting,now set up Committee for formulating AccountingStandards for local bodies (CASLB)
Tamilnadu, Bangalore Corp & Karnataka, AP, Delhi,
Kolkatta, Brihan Mumbai Decision to move to AccrualSystem
Move to accrual accounting a major decision at Statelevel
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Urban Institutional Set-Up
Minister
Secretary Municipal
Administration or Urban
Development
Commissioner or/&
Director of Municipal
Administration
Corporation Municipalities
ULB
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2 ± Why Modern
Accounting & CAs?
2 ± Why Modern
Accounting & CAs?
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Why Modern Accounting System?Why Modern Accounting System?
Needs of Changing macro economic conditions transparency/ accountability
Complete financial information currently absent
Enabling realistic financial information
Providing correct planning instrument
Providing better decision tools
Single data base for all purposes
Modern financial statements base for performancebased funding
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Gap Analysis The Accrual Accounting SolutionGap Analysis The Accrual Accounting Solution
ULB does not know it owns (assets) & Owes(Liability)
No distinction between Capital & Revenue
No Summarized Statement to understand theULB finances
Required information cannot be generatedquickly Not Computerised
System not in line with any accountingstandards, GAAP
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Role of CAsRole of CAs
Need to understand governmental accounting
Sensitize the Govt & local bodies consideringperspectives of Information, Control & Governance
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3± The Approach
3± The Approach
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Transition to Accrual Accounting: ApproachTransition to Accrual Accounting: Approach
Based on Bangalore Experiment
Considerations not just restricted to accounting alone
Accounting need to become core function and should not be treated as a stand alone system
Control, Technology and Human Resource are alsorelated
Involvement of stakeholders is key
Transparency and Accountability aspects need
recognition
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Health
Education
Engineering
Revenue
SWM
Infrastructure
Markets
Horticulture
CITIZEN
STATE
GOVT
LENDERS
ELECTEDREPS
The DEPARTMENT AL Approach: Terminal Function
Finance&
Accounts
Finance&
Accounts
Finance&
Accounts
Finance&
Accounts
Finance&
Accounts
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Health
Education
Engineerin
g Revenue
SWM
Infrastructu
re
MarketsHorticulture
Finance&
Accounts
CITIZEN
STATE
GOVTLENDERS
ELECTED
REPS
The ENTERPRISE Approach: Core Function
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4± The Actual Process
4± The Actual Process
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Key Processes & Issues for ImplementationKey Processes & Issues for Implementation
Process Mapping Hesitation of the staff to provide
complete information to the team Chart of Accounts Management considers only existingbudget heads
Architecture for Accounting Lack of clarity oninformation requirements
Process Re-engineering Need to have a responsibleperson ensuring flow from the respective departments Specification for software development Domain
requirements very special, difficult to translate totechnicians
Hardware & Software Definition/ Procurement- Hardwarehired temporarily, Procurement process is cumbersome,time consuming
Software testing & deployment lack of mix of talents Team in Place undue delays and frequent changes in
the implementation team
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Role of CAsRole of CAs
Need to plan on details of implementation based on theprocess map
They should be able to master issues related to internal
process of ULB management and technology for asmooth migration
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5 ± The Content
5 ± The Content
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Content - Migration to Modern AccountingContent - Migration to Modern Accounting
M1- Revenue Mapping revenue flow (several) M2 Expenditure Mapping expenditure flow (limited) M3- Assets/Liability Accounting Accounting for short
term & long term Assets & Liabilities, opening balancesheet
M4-Funds Tracking & Reconciliation M5 Budgeting Setting up of budgeting process M6 Works Coding of works based on selected criteria M7 Payroll Coding of employees M8 MIS Accounting enabled MIS
M9 Policy inputs Accounting Policy, AccountingRegulations, Budget Regulation, Banking relationship, Audit systems.
M10 - Training Commercial Accounting, FBAS,Computers & MIS
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Role of CAsRole of CAs
Accounting -The core competency of CAs
Key Challenge Switch to design, Setting up andimplementation of systems rather than auditing
Requirements Technology, Project Management andBehavioural inputs
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6 ± Implementation
Issues & Strategies
6 ± Implementation
Issues & Strategies
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Core Issues 3PTCore Issues 3PT
Technology
People Process
Policy
COREISSUES
Approaches
KeyIssues
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1: Policy Issues1: Policy Issues
1.1: Decision at the Government level to move tothe new system
1.2: Why should we select the new system? 1.3: Technical aspects
DECISION: Suitability impact wherewithal political acceptance procedures
SUIT ABILITY: Cash/Accrual ? lack of technical expertise impact on existingGovernment Financial Reporting
TECHNICAL ASPECTS: Accounting Policy Accounting Standard (apart from State FinancialCode) Audit Process
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White Paper on Accounting System to Government Detailed discussions at Principal Secretary Level Fund Based Accounting System (FBAS) based on Best
practices and accepted by GOK Bangalore Agenda Task Force (BATF) Constituted by Chief
Minister came in as Mentors for managing implementationprocess at Bangalore by funding Consultancy support (aPublic Private Partnership Initiative)
The State Accounts Department (the Auditors) weretaken in for discussions at various stages
GOK made an MOU with BMP for various time based
deliverables (relating to FBAS implementation and otheraspects) for a financial assistance by GOK
1: Approach1: Approach
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2: Process Related2: Process Related
2.1: Mandate for/Review of the Process
2.2: Accounting System/Quality
2.3: Opening Balance Sheet
2.4: Management Information System
2.5: Functional areas (including technology)
2.6: Public participation
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Issue 2.1:Mandate for/Review of the ProcessIssue 2.1:Mandate for/Review of the Process
Lack/inadequate understanding of the need forthe new system by Management
Need for official decision for change (Government decision/Council decision)
Lack of ownership : Need to get the buy-in of various stakeholders
Mandate to change agents (employees andconsultants)
Budget and payment procedures
Timeline, milestones for/and deliverables bystakeholders
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Approach 2.1:Mandate/Review of the Process Approach 2.1:Mandate/Review of the Process
Communicating the benefits of the system to BMPby BATF presentations and discussions
New system confirmed official - the BMP Accounting Regulations, 2001 passed by theCorporation Council
Stakeholders (with in the system) involvementthrough MIS (structured financial information)provided by the new system
Strict weekly reviews, (which continues even after
30 months) set up by BATF for immediate follow-up bysenior officials like Special Commissioner/Joint
Commissioner - Finance
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Issue 2.2 Accounting System/QualityIssue 2.2 Accounting System/Quality
Cash basis of accounting with out major checks or balances Delays in flow of information/Lack of completeinformation
Consolidated information /No detailed information
Basis of accounting/accounting treatments not very
scientific Extent of information available - person dependent
Multiple sources of financial information
No periodic, scientific reconciliations
No structured and regular information from Banks
Bank balance not very clear Huge arrears in audit
Accounting considered a terminal function
Lack of financial analysis /intelligent functional reviews
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Approach 2.2: Accounting System/Quality Approach 2.2: Accounting System/Quality
Process Mapping Process Reengineering Formatrevisions Test information f low mechanism scaling up by Consultants
Defaulters Analysis/Follow-up on daily basis Mechanism for daily/periodic confirmation of entries The Accounting entries simplified through Accounting Entry
Matrix Simplified procedures - Workflow Manual - Accounting
Regulations Weekly reviews focus on gaps in operation and
immediately attended to A system of bank reconciliation set up and sample
reconciliations done by Consultants to ensure complete andcorrect accounting
Most important was the approach adopted to shift accountingfrom terminal function to core function
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Issue 2.3:Opening Balance Sheet Issue 2.3:Opening Balance Sheet
No Balance Sheet in the old system Subsidiary records not available or were incomplete
Most of the asset/liability information not readilyavailable
Most of the employees not aware of Balance Sheet
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Approach 2.3:Opening Balance Sheet Approach 2.3:Opening Balance Sheet
Asset inventory - verification/valuation by Consultants Updating /rebuilding registers with regard to Revenuereceivables (DCB), loans and advances
Identification of bank accounts sample bankreconciliation for arriving at opening balance
Loan account reconciliations Payables reconciliation /confirmation : Contractors/Suppliers
Training to BMP employees Policy and process for delayed identification/accounting
of assets and liabilities, taken care in accountingpolicy
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Issue 2.4:Management Information SystemIssue 2.4:Management Information System
Lack of MIS concept and structured MIS
Information generated not from single source
Reports not authentic or reliable
Department Heads not having structured review based
on authentic reports
Lack of standardized formats
Generally - lack of informed decision making
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Approach 2.4:Management Information System Approach 2.4:Management Information System
Understanding of MIS requirements with clarity Sensitization of Departmental Heads about MIS requirements /
usefulness
Designing department specific MIS
Providing control reports during transition
Finance related functional MIS to various departments MIS for operational levels to enable day to day dependency onMIS
MIS to all possible stakeholders including electedrepresentatives (works status)
Single data base for official use
Reviews using MIS from a single official database
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Issue 2.5: Functional areas (including Technology)Issue 2.5: Functional areas (including Technology)
Budgeting process: not scientific and based onguesstimates Budget not realistic
Works: Inadequate information / control on engineeringworks with no direct links to financial accounting
Payroll: Deployment of a large manpower with noeffective information on payroll related matters
Assets: No complete information and management of assets
Banking: No proper and timely information from Banks Technology: Lack of physical/human infrastructure for
appreciating and absorbing technology
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Approach 2.5: Functional areas (including Technology) Approach 2.5: Functional areas (including Technology)
Budgeting: Budget information data sheet (BIDS) from alldepartments, Budget regulation is in draft stage
Works: All works were coded, work monitoring systemcomputerized, no payment without work code, worksliability established and linked to Accounting
Payroll: Electronic payroll database (13,500 employees)
created, links to loans and advances, statutory dues Asset accounting: Asset inventory made, verification
measurement valuation under process, complete individualasset file created with electronic DIGI map for locatingassets of BMP
Banking relationships: MOU with Bankers - one currently
capable of providing computerized information as per BMPrequirements Technology: BATF provided the required technical support
through Consultancy support BMP built up its internalcapacity to handle related issues
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Issue 2.6:Public participationIssue 2.6:Public participation
No information to citizens on financial performance /status
No citizen involvement for providing inputs forbudget
No public debate on various city related issues
No sharing of information on ward works
No Scrutiny of ward works and work supervision bycitizens
Lack of joint planning at ward level with citizens
All the above resulting in no pressure for providing information to public on servic ed eliv ery
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Approach 2.6:Public Participation Approach 2.6:Public Participation
There has been a strong citizens involvement withcampaigns like Janaagraha and PROOF
Janaagraha NGO promoting citizens awareness / ability onissues related to city governance: citizens responsibilities andrights, planning and supervision of ward works, etc
PROOF: Public Record of Operational Finance a campaignpromoted by four NGOs in the City: The BMP was the first institution to place its quarterly results since (Q1 02-03) to thePublic and a public debate is held in this regard.
BMP Balance Sheet published in Newspapers
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3: People related Issues3: People related Issues
Lack of Ownership/responsibility for/during transition Frequent changes in officials Gaps in Organisation structure/in Finance and Accounts Lack of required quality (suitability) of people Lack of required quantity of people at appropriate
places
Attitude towards change lack of incentive for change Helplessness in the system towards non-performers
accountability issues Limitations in getting/placing professionals Limitations in making persons do allotted work
Problems in hiring personnel Non matching of person to post Lack of up skill gradation mechanism Lack of HR policy No training/skill up-gradation practice
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Approach/Strategy Approach/Strategy
Bangalore Corporation and BATF put in a lot of continuous
efforts Irrespective of 5 Commissioners in 2 ½ years, all the
Commissioners made their positive contribution Certain key posts were created specifically and
professionals brought in: in the first phase JCF andrecently Special Commissioner
Decentralization of Accounting work with creation of three Assistant Controllers of Finance created and deployed inthree zones
Initial training of Accounts / Audit staff in Computers andModern Accounting provided
Software and FBAS training commenced Business Process Manual + Job Descriptions made to
enable clarity in operations Close monitoring for post implementation capacity building
going on presently.
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4. Technology Related4. Technology Related
Lack of understanding of hardware and softwareaspects
No internal ability to handle issues relating toHardware:
Appropriate technology configurations nos Location usage
Networking
Power quality/UPS
Trouble shooting / maintenance AMC
No Software for Accounting/MIS
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Approach/Strategy Approach/Strategy
BATF provided required technical inputs
The Corporation brought in persons to handlehardware issues on contract basis
Entire software aspects handled by Consultants Tailor made Software functionality
Integration between modules Software documentation Software User Manual Training to Users on software
Audit trail in software Software suppliers + warranty Software maintenance post implementation Data base administration
The Corporation built up its own computer centre
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Role of CAsRole of CAs
Develop multi disciplinary approach
Need to undertake implementation projects
Tackle difficulties through innovative approaches inundertaking change management
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7 ± Lessons Learnt &
Models for CAs
7 ± Lessons Learnt &
Models for CAs
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Audit
Certification as per standards and disclosure norms Control Systems/IT Audit (SOX) Outcome measurement? Delivery of public services certification (stakeholders) Transparency aspects publication
MIS Linking to accounting (MTFP) Detailed/Summary/Analytical aspects Review mechanisms and administration Technology considerations - Architecture Web-enablement Stakeholder participation
Standards Accounting/Audit Record maintenance Data standards KPI/Outcome identification
Lessons learnt & Issues - 2Lessons learnt & Issues - 2
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IFAC/IPSAS considerations Clarity on Process Issues
Team in place for handling implementation
Stable team to handle entire migration process
Infrastructure in place for the change process
Right mix of internal/external team Capacity building plan that is relevant to implementation
Involvement of audit/technology teams from the beginning
Realistic time targets based on work breakdown
Strong review mechanism during implementation
Stakeholders participation in a realistic manner Not loosing track of the objectivity of the exercise the outcome
(and not just a news!)
Key Considerations for Successful ImplementationKey Considerations for Successful Implementation
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CAs Role In Nation BuildingCAs Role In Nation Building
Migrating the local bodies from traditional to Accrual Accountingis a massive task and has a long term impact
Three models in the exercise:
#1: Turnkey Support- Complete solution provider.Requirements-multiple skills, Project management set up
#2: Core competency support- Mentor ULB to implement accounting & Control related aspects.
#3: Providing support services Training, compilation,preparation of opening balance sheets, reconciliation of bank accounts, ensuring adherence to AccountingStandards etc
Need to embrace technology, management tools, project management skills, change management approach, strengthenthe Core competency of Accounting & Auditing.