A Report on UN Sustainable Development Goals and Financial Governance

This report examines the UN Sustainable Development Goals (SDGs) and their relationship to financial governance, particularly in developing countries. It begins by introducing the SDGs as a blueprint for a sustainable future, emphasizing the interconnectedness of the 17 goals and the aim to achieve them by 2030. The report then delves into the Busan partnership on aid effectiveness, highlighting its role in improving financial governance. It identifies Goal 17 as crucial for international cooperation and strengthening domestic resource mobilization. The study identifies system weaknesses, especially in India, a developing country, analyzing the benefits and drawbacks of adopting International Public Sector Accounting Standards (IPSAS). It explores how development partners can identify these weaknesses and support the implementation of proposed reforms, including financial and technological support. The report concludes by emphasizing the importance of the SDGs and IPSAS for achieving sustainable development.

UN sustainable development goals
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Contents
UN sustainable development goals..................................................................................................1
Introduction......................................................................................................................................3
Discussion........................................................................................................................................4
The key aspect of the Busan partnership on aid effectiveness which relates to improved
government financial governance................................................................................................4
SDG which relates to the public financial governance and systems...........................................4
How development partners can identify system weaknesses......................................................5
Identify your developing country and its current areas of weakness...........................................5
The benefits and drawbacks/risks of adopting IPSAS in your chosen developing country........6
What support the development partners should put in place to assist the countries in
implementing the proposed reforms............................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
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Introduction
The sustainable development goals are considered to be the blue print that is developed by the
UN in order to achieve a better and more sustainable future for the world. Through this
sustainable development goals, the aim of the organisation is to address the global challenges
that are faced by the people in all around the world. Some of these includes the poverty,
inequality, bringing peace and the justice and many more sustainable goals. They have
developed around 17 goals for sustainable development that are considered to be interconnected
so that none those are left behind. The goal of this organisation is to achieve all of them by the
year 2030. The current report is based on identification of the partnership that has been
developed for the effectiveness and international approach so as to improve the financial
governance within the developing country. The international public sector and accounting
standards are the set that helps in attaining the objective in the most significant manner. The
developing country that is identified for the same includes India which is considered to be one of
the most effective development countries in the world.
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Discussion
The sustainable development goals are considered to be the collection of the 17 global goals
which are designed in the manner so that they are able to achieve better and more sustainable
future for the population of the world. This is considered to be the organisation that was develop
by the united nations general assembly for attaining all of the goals in the year 2030. This is
identified that for completing the goals the different countries in the world needs to understand
the different approach and should use the financial resource in order to achieve the goals in the
most significant manner (Bebbington and Unerman, 2018).
The key aspect of the Busan partnership on aid effectiveness which relates to improved
government financial governance.
The Busan partnership is identified as one of the most effective partnership that helps in
development and cooperation of the different aspects for financial governance. Through the
Busan partnership this has been identified that the sustainable development is considered to be
the end goal of the commitment for the development of the countries (Costanza, et. Al., 2016).
The Busan partnership aims to develop the ownership of development priorities, also through
this the focus is on the results, also through this their focus is on inclusive development
partnerships and lastly this helps to focusing on transparency and accountability. These helps in
following the government financial governance through which they are able to develop high
level of integration among the companies. Also, this helps in strengthening of the financial
integration through which the government of the country is able to achieve the objective of
identifying the requirement of finance for achieving its goals (Biermann, et. Al., 2017).
SDG which relates to the public financial governance and systems
The Sustainable development agenda for its fulfilment requires a partnership between the
different sectors of the country. This is identified to be important for creating an inclusive
partnership upon the principles to attain the global goals of financial governance and systems.
This is considered that for this purpose the goal that is identified incudes the GOAL 17, this is
considered as the goal that helps in developing a strong international corporation between the
public financial governance (El-Maghrabi, et. Al., 2018). Through this the strengthen domestic
resource mobilization is considered for this purpose which helps in internal support to develop
countries and to improve domestic capacity of the government. Also, this assist in developing
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countries through which they are able to attain long terms debt sustainability which is aimed at
debt financing.
How development partners can identify system weaknesses
This is considered that development partners are considered to be one of the most important the
source that helps in identifying the various system weakness in the goals implementation and
capital contribution by the country. The development partners help in providing the technology
so as to enhance the identification of the different tools that are related to them. The development
partners help to analysis of the national and the local governance system and provide the data to
the country for its future development. The areas that requires change are identified through this
standard which helps in development of country (Fukuda-Parr, 2016). Also, through this the
importance of effective and well performed governance is attained. The policy and the
institutional coherence are advised through the partners which helps in development of the
different parameters for the partner country. The data monitoring and accountability function is
also performed by the partners in order to identify the system weakness and promote
sustainability in the country (Hák, et. Al, 2016).
Identify your developing country and its current areas of weakness
The current developing country that is identified for the purpose of study is India which is a part
of commonwealth country and through which they are able to attain the objective of maximizing
the performance for the same. The country is considered to be one of the most significant and
fastest developing countries in the world. The developing country with the use of GOAL 17 has
identified the partners that are assisting them to develop and to identify the areas of weakness.
The weakness in the country are identified through the different tool which includes the targets
that are developed for the future year and through the comparing the actual targets that are
achieved (Kanie and Biermann, 2017). Also, the partners of the country help in identifying and
recording the data, monitoring and accountability as a tool through which capacity building and
support is analysed for the country. Also, the multi-stakeholder’s partnership is developed by the
country through which they are able to develop high growth for the country. Through this
effective public, civil and strategic financial assistance that are related to the country are
identified. The main weakness of the country includes the systemic issues and the issue related to
the distribution of the funds. Also, there are various trade related issues that are identified by the
partners (Nerini, et. Al., 2018).
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The benefits and drawbacks/risks of adopting IPSAS in your chosen developing country.
The IPSAS is considered to be one of the most significant tools for accounting of the different
transactions in the country. As this tool helps in bringing quality in general purpose financial
reporting. These tools are basically made for the public sector organizations which helps in
development and better assessment of accounting by creating transparency and accountability.
There are various advantages that are related to IPSAS which includes, better understanding and
comparability standards, also it is based on accrual method of accounting through which
transparency and controls are examined, also this helps in improved senior management decision
making, this also regards to better inventory management for the country (Rieckmann, 2017).
On the other hand some of the disadvantages that are related to this system includes, this would
lead to creation of the accounting system that is based on the accrual basis which is not
considered best for the country as the country adopts the cash basis system for all the
transactions that they enters. Also, this would lead to creation of the different road map that
would be time consuming and if the changes are regarded in this context then country has to
suffer huge financial cost for the change to get implemented in initial years.
What support the development partners should put in place to assist the countries in
implementing the proposed reforms.
The goal 17 creates the base for the partners in developing and implementing the reforms in the
country. Here this is considered that financial support so as to strengthen the domestic resource
mobilization, technological support for developing the technology in the country, building the
capacity and infrastructure, expanding the trade boundaries towards the different nations and
solving the systemic issues creates certain goals that are required to be solved by the partners so
as to assist the countries in implementing the reforms that they wanted to create (Schroeder, et.
Al., 2019).
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Conclusion
The above discussion provided the conclusion that the SDG are considered to be the part of Un
resolution that helps in attaining the objective of resolving the different fears that the world
faces. Also, there are various cross cutting issues that are faced by the world which are resolved
through these SDG. The adoption of these SDG is done by the different organization in the most
prominent manner. Also, IPSA are considered to be tool that is used by the different countries in
order to generate accrual basis of accounting.
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References
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Biermann, F., Kanie, N. And Kim, R.E., 2017. Global governance by goal-setting: the novel
approach of the UN Sustainable Development Goals. Current Opinion in Environmental
Sustainability, 26, pp.26-31.
Costanza, R., Fioramonti, L. And Kubiszewski, I., 2016. The UN Sustainable Development
Goals and the dynamics of well-being. Frontiers in Ecology and the Environment, 14(2),
pp.59-59.
El-Maghrabi, M.H., Gable, S., Rodarte, I.O. and Verbeek, J., 2018. Sustainable development
goals diagnostics: an application of network theory and complexity measures to set
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Fukuda-Parr, S., 2016. From the Millennium Development Goals to the Sustainable
Development Goals: shifts in purpose, concept, and politics of global goal setting for
development. Gender & Development, 24(1), pp.43-52.
Hák, T., Janoušková, S. And Moldan, B., 2016. Sustainable Development Goals: A need for
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Kanie, N. And Biermann, F. Eds., 2017. Governing through goals: Sustainable development
goals as governance innovation. Mit Press.
Nerini, F.F., Tomei, J., To, L.S., Bisaga, I., Parikh, P., Black, M., Borrion, A., Spataru, C., Broto,
V.C., Anandarajah, G. And Milligan, B., 2018. Mapping synergies and trade-offs
between energy and the Sustainable Development Goals. Nature Energy, 3(1), pp.10-15.
Rieckmann, M., 2017. Education for sustainable development goals: Learning objectives.
UNESCO Publishing.
Schroeder, P., Anggraeni, K. And Weber, U., 2019. The relevance of circular economy practices
to the sustainable development goals. Journal of Industrial Ecology, 23(1), pp.77-95.
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