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.

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Recently the Fiji Government also committed to the implementation of accrual accounting under the IPSAS standards.

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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)

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• Develop a whole-of-government valuation methodology and associated Asset Hierarchy, which was satisfactory to the Auditor-General and could also be used across all the Pacific Island nations for financial reporting, insurance, asset management and disaster risk management purposes

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• Develop a strategy to implement the NAMF across the whole-of-government

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• Integrate asset registers with the pacific wide risk assessment database (PCRAFI)

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