Financial Management and Control: Connectivity with Budget Systems

Sep 19 – 30, 2022 Online No Fee
Sep 12, 2022 Auditing

The main objective of this online course is to raise awareness and understanding of how financial management and control can be practically applied.

What will you learn

Financial Management and Control (FMC) represents underlying principles of management and control of public funds. For different budget systems and environments, the right FMC architecture has to be chosen. Centralized and decentralized budgets, classical and performance budgets, digital budgets – each system requires its own management and control arrangements. Underlying principles should be however based on COSO framework which encompasses control environment, risks management, control activities, information and communication, and monitoring of performance. This online course will show the relationship between the budget and FMC. 

FMC is regarded as advanced and proactive management approach in which managers are accountable for delivering objectives in effective, efficient, and economic way. Countries are in parallel making improvements in budget, FMC, and other systems. It is important that these reforms are aligned and that key planning processes are intertwined. Aligning and fine tuning reforms in budget management and FMC is essential for accountable and results-oriented public service. It is as well important to raise awareness that budgetary reforms have managerial implications and that budget process is the key responsibility of everyone who is identified as a manager.

Program budgeting is regarded as advanced technique that changes the focus from inputs to achieving the results. We will as well discuss why a good level of managerial accountability is critical to success of results-oriented budgeting.

The course will be divided in two units and will offer a unique and tailor-made design. We estimate that each online unit will take about 6 hours to complete it. This time can be devoted according to individual preferences - only webinars and assignment require availability at a specific time. This learning initiative will be delivered in English, and highly participatory. Participants will be encouraged to share their experiences and country practices. Participants will actively work on designing and discussing the proper FMC arrangements for different cases.

By the end of the online course, participants will have:

  • Gained understanding on how to link FMC and budget systems
  • Gained understanding on how to apply FMC in different budget settings
  • Exchanged experience on how to advance performance budgeting with the help of FMC
  • Recognized opportunities for making concrete improvements in FMC manuals and processes
  • Discussed experiences and challenges faced in SEE countries
  • Discussed international principles on accountability arrangements and performance-based budgeting

Who should attend

This online course is designed for internal audit professionals and managers of ministries and other public institutions, Central Harmonization Units (CHUs), and budgetary departments of the ministries of finance.


The learning initiative will be delivered under the guidance of:

  • Ana Krsmanović, Independent Expert, Montenegro
  • Valion Cenalia, Senior Budget Expert, Ministry of Finance and Economy, Albania
  • Bas Verberne, Senior Policy Advisor, Department for Budgetary Infrastructure. Budgetary Affairs Directorate, Ministry of Finance of the Netherlands
  • Dennis Ravenhorst, Senior Policy Advisor, Department for Policy Control, Financial Economic Affairs Directorate, Ministry of Finance of the Netherlands
  • Pilar Ormijana, Senior Policy Advisor, OECD SIGMA
  • Axel Mathot, Senior Policy Advisor, OECD


This learning initiative was supported by:

Ministry of Finance, the Netherlands Ministry of Finance Slovenia SIGMA - OECD
Ministry of Finance and Economy, Albania