Making a difference

Issues & Solutions in Public Financial Management

Governments around the world undertake financial management reform on a routine basis as well as in response to any crises that may arise. There are often challenges in establishing the linkages inherent in the systems to achieve reform goals.

This course will provide an introduction to integrated public financial management (PFM) from theory to practice. Participants will be taken through the overviews of governance reforms, economics, budgeting, auditing, accounting and management theories essential to understanding the current issues in integrated PFM reforms.

Who should attend
There is no prerequisite for this course. It is designed for those in the public sector wishing to learn more about current financial management practices. It will also benefit participants from central organisations including programme managers, supervisors and legislatures.

How you will benefit
By the end of the course you will be able to:

• understand linkages in the overall PFM architecture and governance reform, including fiscal decentralisation
• understand Medium Tern Expenditure Framework (MTEF) reforms and the budget process
• execute budgets by understanding the principles in cash management, public procurement and internal controls
• understand developments in financial reporting standards in the public sector
• enhance understanding of the PFM oversight function, the role of the Public Accounts Committee and External Audit

Benefits to you and your organisation
This course will improve your capacity to identify issues and to be able to construct effective solutions to meet the challenges in financial management reforms faced by your organisation.

Course profile

• Overall the course will provide the opportunity to understand the context within which integrated public financial management reforms are developed and implemented.
• Linkages within the Public Financial Management components
• Overviews of Public Expenditure Financial Accountability( PEFA)- Public Financial Management Performance Measurement Framework
• Strategic planning and budget preparation based on the Medium Term Expenditure Framework( MTEF)
• The budget preparation process & the budget calendar, budget techniques and tools
• Budget execution (internal controls, work planning and procurement)
• Issues in financial reporting and accounting
• Integrated Financial Management Information System (IFMIS) design and implementation
• Overviews of Cash Management within the context of the single treasury account (TSA)
• Overviews of debt management
• Comprehensive auditing ( external and internal audit)
• Budget oversight function and the fundamentals of scrutinising the budget estimates
• Fiscal decentralization: local government and central government relationships
• Service delivery in the public sector (performance management including an understanding of performance audit.)
• Overviews to monitoring and valuation (M&E) methods
• Overviews of aid management and fiduciary risks
• Integrated revenue management