Improving Public Internal Financial Control
Project details
| Sectors | Democracy and governance |
|---|---|
| EU Acquis Chapters | Financial control, Financial and budgetary provisions |
| EU funds | 2 000 000 € |
| Implementation period | 2018 - 2024 |
| Categories |
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Summary
Purpose of this project is to develope capacity for Public Finance Management risk management, integration of internal control, risk based internal audit at the level of individual public sector organisation, as well as to enable the monitoring of the Financial Management and Control and Internal Audit at the level of the Ministries of Finance. The facilitation of the processes is done by a “Financial Management and Control and Internal Audit” software application.
Results
Implementation of this project will result in:
- Adopted Public Internal Financial Control Strategies at all levels for the period 2021 – 2025;
- Updated Public Internal Financial Control legal framework in line with the integrated internal control framework principles with special focus on risk management and International Standards for Professional Practice of Internal Auditing.
- The Central Harmonisation Units have the capacity to advice the public sector organisation how to implement risk assessment, risk management, internal control and internal audit and to monitor the implementation by using the legal framework and the tools, including digitalised Risk Register and Internal Audit Management.
- Extensive training on Risk Assessment, Risk Management and Internal Audit via the “Financial Management and Control and Internal Audit” software application enhances the capacities for implementation of Public Internal Financial Control.
- “Financial Management and Control and Internal Audit” software developed at two levels: individual public sector organisation and consolidation of reports by the Ministries of Finance.
- Introducing Risk Assessment and Risk Management in the public sector organisations will improve the efficiency of public finance management, reduce overspending, increase revenue collection and ultimately improve the quality of public service.
Locations
Government level color legend
- Fully funded project on only one level/location:
- STATE
- ENTITIES AND BRCKO DISTRICT
- CANTONS
- MUNICIPALITIES
- Partially funded project on multiple levels/locations:
- STATE
- ENTITIES AND BRCKO DISTRICT
- CANTONS
- MUNICIPALITIES
Media
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