Public Financial Management Leadership Training Course

Introduction

Effective public financial management (PFM) is the cornerstone of good governance, enabling governments to optimize resource allocation, ensure accountability, and deliver essential services to their citizens. This intensive 5-day training course is meticulously designed to equip public sector leaders with the advanced knowledge, strategic insights, and practical tools necessary to strengthen PFM systems, enhance fiscal discipline, and drive transparency in public spending. Learn how to champion sound financial practices to achieve national development objectives and build public trust.

This program delves into the entire PFM cycle, from budgeting and revenue mobilization to expenditure control and audit, providing a holistic understanding of financial governance. Participants will gain actionable strategies for navigating complex fiscal challenges, implementing robust financial controls, and leveraging financial data for informed decision-making, ultimately empowering them to lead their organizations towards greater financial efficiency, effectiveness, and accountability.

Duration: 5 Days

Target Audience

  • Senior Government Officials in Finance Ministries and Departments
  • Heads of Budget and Planning Units
  • Chief Financial Officers (CFOs) in Public Agencies and Parastatals
  • Directors of Treasury, Revenue Authorities, and Audit Institutions
  • Leaders involved in Public Sector Reforms and Fiscal Policy

Objectives

Upon completion of this course, participants will be able to:

  • Understand the comprehensive framework of Public Financial Management (PFM).
  • Develop strategies for effective budget formulation, execution, and reporting.
  • Enhance revenue mobilization and expenditure control mechanisms.
  • Strengthen internal controls and public sector auditing practices.
  • Lead reforms aimed at improving fiscal transparency and accountability.

Course Modules

Module 1: Introduction to Public Financial Management (PFM) and its Importance

  • Defining PFM and its Role in Good Governance
  • The PFM Cycle: Budgeting, Execution, Accounting, Reporting, and Audit
  • Key Principles of Sound Financial Management in the Public Sector
  • The Link Between PFM and National Development Goals
  • Global Trends and Challenges in PFM

Module 2: Strategic Planning and Budget Formulation

  • Linking National Development Plans to the Budget Process
  • Types of Budgets: Line Item, Program, Performance, and Zero-Based Budgeting
  • Medium-Term Expenditure Frameworks (MTEFs) and Fiscal Strategy Papers
  • Participatory Budgeting and Stakeholder Engagement
  • Budget Prioritization and Resource Allocation Methodologies

Module 3: Revenue Mobilization and Management

  • Sources of Government Revenue: Tax and Non-Tax Revenues
  • Principles of Effective Tax Administration and Policy
  • Strengthening Revenue Collection Agencies
  • Managing Public Debt and Fiscal Sustainability
  • International Best Practices in Revenue Management

Module 4: Budget Execution and Expenditure Control

  • Treasury Management and Cash Flow Forecasting
  • Public Procurement: Principles, Processes, and Best Practices
  • Payroll Management and Human Resources Budgeting
  • Internal Controls and Risk Management in Expenditure
  • Addressing Irregular and Unauthorized Expenditures

Module 5: Public Sector Accounting and Financial Reporting

  • International Public Sector Accounting Standards (IPSAS)
  • Accrual vs. Cash Basis Accounting in Government
  • Preparing Government Financial Statements (e.g., Statement of Financial Performance, Position)
  • Consolidated Financial Reporting for the Public Sector
  • Role of Information Systems in PFM (PFMIS)

Module 6: Public Internal Control and Audit

  • Understanding Internal Control Frameworks (e.g., COSO)
  • Principles of Internal Audit in the Public Sector
  • Role of the Internal Auditor in Ensuring Accountability
  • Risk-Based Auditing and Fraud Detection
  • Strengthening Internal Control Environments

Module 7: External Audit, Oversight, and Accountability

  • The Role of Supreme Audit Institutions (SAIs)
  • Financial Audits, Performance Audits, and Compliance Audits
  • Parliamentary Oversight of Public Finances
  • Citizen Oversight and Social Accountability Initiatives
  • Promoting Fiscal Transparency and Public Access to Financial Information

Module 8: PFM Reforms and Leading Change

  • Identifying Drivers and Challenges of PFM Reforms
  • Developing a PFM Reform Strategy and Roadmap
  • Change Management in PFM Implementation
  • Building Capacity and Skills for PFM Professionals
  • Leveraging Technology for PFM Modernization (e-PFM)

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

 

Public Financial Management Leadership Training Course in Serbia
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