Government of Fiji
Whole of Government Asset Framework
Over the past decade Fiji has experienced significant economic growth as well as expansion of their infrastructure network. The Government, supported by a range of aid agencies, has invested significant resources into essential infrastructure such as buildings, roads, water and sewerage, drainage, energy and communications.
Recently the Fiji Government also committed to the implementation of accrual accounting under the IPSAS standards.
To assist the Government with both the transition to accrual accounting as well as driving improvement on the Asset Management of the whole-of-Government infrastructure APV was appointed by the Asian Development Bank (ADB) in 2018 to -
Undertake a review of the existing processes, systems and asset management processes and registers including a review of the National Asset Management Framework (NAMF)
Develop a whole-of-government valuation methodology and associated Asset Hierarchy, which is satisfactory to the Auditor-General, that could also be used across all the Pacific Island nations for financial reporting, insurance, asset management and disaster risk management purposes
Develop a strategy to implement the NAMF across the whole-of-government
Integrate asset registers with the pacific wide risk assessment database (PCRAFI)