Public Finance Management contains multiple building blocks working together to improve efficiency, transparency and accountability in the Public Sector.
Central elements are:
- Improved Budget planning and execution processes
- Strengthened internal and external finance control
- Effective tax administration
- Improved public expenditure management in lign with political priorities
- Accounting and reporting in line with internationally accepted standards (IPSAS) to foster transparency and accountability
- Capacity Building to support the PFM reform process
- Enhanced involvement of civil society in decision making processes to increase transparency and trust in the management of public fincances
The reform and strengthening of accounting and reporting is of foundational importance, as the finance function provides data and insights needed for furhter reform steps.
We understand PFM reforms wholistically and support along the functional PFM chain starting with planning until reporting and communication to stakeholders.
Strategic PFM Reform Consultancy
Capacity Building involves much more than simply reading out the standards´ text. It should help the audience to understand the background of the guidance, the motivation of the IPSASB for developing the standard and the rationale behind the detailed requirements.
Based on such an understanding, capacity building is one of the key enablers for successful implementation of IPSAS in general or new standards coming into effect in the future.
Entering into a new field, this is even more important for Sustainablity Reporting based on the new IPSASB Sustainability Reporting Standards (SRS) which are currently under development.
Starting with awareness-raising events, explaining the need of accounting reforms to decision makers, up to the coaching of IPSAS implementation projects I am your partner for the journey towards a modern and efficient PFM function. I am offering in-depth IPSAS capacity building programs in the full range from initial trainings regarding accrual accounting to advanced capacity building programs focussing on newly published standards.
Capacity Building
Understanding the detailed IPSAS requirements in detail is essential. However, the problems appear when those abstract standards´ requirements have to be transferred into the reality of governments as a whole and single public sector entities. Based on multiple years of implementation experience globally, we are supporting governments in translating IPSAS into their specific economic and cultural context. Starting with the design of a realistic roadmap, together with you we develop solutions for the practical application of accounting guidance to the relevant classes of transactions.