Accounting and Financial Reporting
We promote regional cooperation and sharing of experiences to support our constituency in overcoming challenges when transitioning to accrual-based accounting and adopting the International Public Sector Accounting Standards (IPSAS). We aim to strengthen public sector accountants’ role in the preparation and delivery of the accounting reforms, fight against fraud and corruption, better management of publicly owned assets, and cooperation with other key stakeholders in implementing the public sector reforms. We explore also why accounting matters from a central banking perspective by focusing on accounting and financial reporting framework and on accounting standards for banking and non-banking sector supervisors. Together with the Chartered Institute of Public Accountancy (CIPFA), we offer a platform for sharing knowledge, experience, best practices, and recommendations to public sector accountants and auditors at our joint annual international conference.
Within Efficient Public Sector Asset Management program (EPSAM), we will continue addressing accounting for assets and how its challenges constrain financial reporting. We will investigate how to develop efficient public sector asset management systems. Special focus will be devoted to discussing various efforts and solutions to resolve the issue of assets recording in countries' national accounting frameworks and regulatory settings. By the end of the year, we will award successful Public Accountants Certification Training (PACT) students upon finishing the training, and conclude localization process by ensuring conditions for future independent running of the training by Public Finance Academy at the Ministry of Finance of North Macedonia. With international CEF-CIPFA conference we aim at inspiring public officials through real life examples on how digitalization in public sector can improve a) data and decision-making in asset management and b) public internal financial control, and c) increase impact on- and inclusion of civil society. We will meet regional public accountants and internal auditors to discuss how their knowledge, experience and regional learning needs of both professions can be even better integrated into our future learning program.
Managing Public Sector Assets
The need to improve decisions concerning government-owned assets and to ensure relevant accountability to the public has led to reforms in several countries. However, the management of government-owned assets is still in its infancy compared to more traditional areas like public budgeting or public administration. Hence the striking mismatch between the many benefits that good asset management can generate and the limited attention it has so far received from most governments. A key task of Public Sector Asset Management (PSAM) is the establishment of an organizational system to manage government assets and to deploy them for the achievement of government objectives. In most countries, this task is further complicated by the presence of multiple central agencies and subnational governments which own or control large holdings of assets.
Workshop: May 9 – 10, 2023
Advancing Digital Change through Public Financial Management
Hosted jointly by the CEF and CIPFA, this in-person event will provide you with the opportunity to explore the roles of public financial management (PFM) professionals in public sector digital transformation, with a particular focus on issues and examples in South East Europe.
Conference: May 11, 2023
Challenges in Implementing IFRS 9 and Policy Recommendations for Supervisors
Workshop: September 26 – 28, 2023
Managing Public Sector Assets: A Multidisciplinary Perspective on Regional and Global Good Practices
Webinar: November 1 – 30, 2023
PACT MKD3 (L2): Graduation Ceremony
Conference: December 1 – 31, 2023