The overall assessment of financial resources management performance of government ministries and agencies will be carried out in the normal course of audit. The assessment will be carried out based on indicators and sub-indicators with reference to established criteria under respective elements that are relevant to agencies being assessed. An Assessment Methodology has been developed outlining the mode and the manner in which an assessment could be carried out. The Methodology is supposed to guide the assessor in calculating the scores based on the assessment of number of samples selected against established criteria. The scores obtained for each indictor and sub-indicator will be aggregated to arrive at a final score for each element.
The final rating of between 1-5 will be assigned to each agency assessed. The rating of 1(one) represents not satisfactory result with total score of <50% while rating of 5 (five) represents excellent result with score of 90% to 100%. The ratings of 1 to 5 will be represented by grade of C to A+, e.g., rating of 5 would mean A+. The overall rating of 1 to 5 will be arrived on the basis of assessment of each indicator and sub-indicator with reference to established criteria and final score arrived at against each element. Different weightage has been assigned to each indicator and sub-indicator depending on their importance and significance to categories of agencies being assessed. While the weightage for main elements, indicators and sub-indicators are pre-assigned, the actual results will be determined on sample sizes and compliances to established criteria being assessed under respective elements, indicators and sub-indicators. The overall weight distribution scheme for nine elements considered for FRMAI is shown in Table 10:
Table 10: FRMAI Weight Distribution (example only)
Note: LG- Local Governance, Dz- Dzongkhag, G- Gewog, T- Thormde, CFIs – Corporations & Financial Institutions, AB-Autonomous Bodies, CSO – Civil Society Organisations, RO- Religious Organisations
Based on the total score obtained, agencies will be rated as depicted in Table 11:
Table 11: Score & Sating
Note: Decimal score will be rounded off to 1%.