Project Case Study
Supporting the development of externally audited financial statements in Palestine
Ensuring Palestine's financial statements stand up to public scrutiny
As part of our work with the Palestinian National Authority, we provided support to the Palestinian Ministry of Finance to develop its financial statement for the fiscal year 2008 in a format fit for sharing with external auditors and interested donors. This was the first time such information had been shared.
The resultant financial statement met the requirements set down in Palestine’s Basic Law and we also offered continuing assistance to help the Authority respond to specific comments from external auditors.
In order to ensure this support led to sustainable change, our team subsequently supported the ministry’s move to financial reporting that was compliant with International Public Sector Accounting Standards through a structured progression. This included developing formats and guidelines for manual production of financial statements and training in accounting concepts and principles.