The accounting and financial reporting obligations are mandated by the Public Finance Act of Bhutan 2007 and specified in the Finance and Accounting Manual (FAM) of Financial Rules and Regulations (FRR) 2016 which lays down the principals of accounting and the mechanism for management of Government funds including the banking arrangements and other important elements of accounting. [...] The PRR requires the Procuring Agencies to observe 10 (ten) days of standstill period from the date of the issuance of letter of intent to award to allow the bidders to lodge complaint if aggrieved by the decision of the tender committee. [...] The responsibility for the implementation of the Program under the Financing Agreement, will include the primary responsibility for preventing and combating fraud and corruption, rests with the Royal Government of Bhutan (RGoB)2. [...] For purposes of Sections 6(f) and 7(b) of the Anti-Corruption Guidelines (ACG) of the Bank, the IA confirms that in the event that the Bank decides to conduct its own inquiry into allegations or other indications of fraud and corruption in connection with the Program, the MOLHR and MOE. [...] The MOLHR and MOE have agreed the following arrangements in accordance with the ACG of the Bank: • The MOLHR and MOE will document the process of informing the ACC of allegations of fraud and corruption.
Authors
- Disclosure Status
- Disclosed
- Doc Name
- Final Fiduciary Systems Assessment - Bhutan Human Capital Recovery and Resilience Project - P174399
- Originating Unit
- Health Nutri & Population SAR 2 (HSAHP)
- Published in
- United States of America
- Rel Proj ID
- BT-Bhutan Human Capital Recovery And Resilience Project -- P174399
- Unit Owning
- Social Protection & Labor SAR (HSASP)
- Version Type
- Buff cover