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.

Topic lead

Želimir Stanić

Specialist, Learning Program

zelimir.stanic(at)cef-see.org

2024 Highlights

Within the Efficient Public Sector Asset Management Program (EPSAM), our focus remains on improving asset accounting and ensuring the program's sustainability to provide ongoing educational support for public officials in this field. We will analyze how to strengthen legal, institutional, and strategic policy frameworks to develop a comprehensive and overarching ownership policy and clear institutional accountability. We will put special emphasis on fostering the exchange of best practices and lessons learned among asset managers and various public sector organizations engaged in managing public sector assets, with a specific focus on the role of State Audit Institutions in this process. Through the international CEF-CIPFA conference, we aim to facilitate dialogue, knowledge exchange, and collaboration among public officials, policymakers, and experts to address critical issues at the intersection of finance, sustainability, and climate change. By addressing Environmental, Social and Governance (ESG), sustainability, and integrated reporting, we aim to reinforce the public sector's dedication to sustainability, responsible governance, and the overall well-being of the communities it serves. We will continue consulting the Network of Regional Experts (NRE) for accounting and auditing to prioritize the identified learning needs and discuss ways to translate these into relevant capacity development initiatives. We will also train experts on selected and the most relevant topics that are addressed through certification training modules.

Related events

The Role of the Supreme Audit Institution in Managing Public Sector Assets

Webinar: May 21, 2024

Strengthening Capacities in Accounting and Auditing through the Network of Regional Experts

Workshop: May 29 – 30, 2024

Advancing Public Sector Asset Management: Sharing Good Practices and Fostering Cooperation

Workshop: September 23 – 24, 2024

Charting a Greener Horizon: Navigating Towards Sustainable Public Finances

Conference: September 25 – 26, 2024

Slovak Ministry of Finance and CEF Support Change Leaders to Drive Public Financial Management Reforms in Southeast Europe

The Ministry of Finance of Slovakia (Ministry) and CEF continue their successful cooperation aimed at supporting the reform efforts of public administrations in Southeast Europe (SEE) towards increased financial accountability and transparency.

Successful Completion of the Public Accountants Certification Training Program in North Macedonia

With the closing ceremony, we are completing the internationally recognized professional qualification program for public sector accountants in North Macedonia. Accountants who successfully concluded the Public Accountants Certification Training (PACT) program were awarded the Chartered Institute of Public Finance and Accountancy (CIPFA) diploma. The closing ceremony took place on January 17, 2024, in Skopje, North Macedonia.

Exciting Learning Opportunities Are Set to Begin Shortly

With the arrival of autumn, we invite you to embrace this season as an opportunity for fresh starts and the pursuit of learning and sharing knowledge. We will continue offering online and in-classroom learning opportunities across four thematic priorities we have specified for our work: public financial management, central banking, leadership for managing reforms, and learning and knowledge ecosystems.

CEF Director Joins CIPFA's Annual Conference Public Finance Live

CEF Director Jana Repanšek joined the panelists at the CIPFA’s annual conference, Public Finance Live, and discussed how the current political and economic landscape is challenging the governance systems and can limit the effectiveness of capacity development work in the public sector. Here are some extracts from Ms. Repanšek's presentation about the opportunities and challenges South East Europe (SEE) will be facing in the coming years.

CEF-CIPFA Conference Explores the Role of Digitalization in Public Financial Management in South East Europe

Hosted by the CEF and Chartered Institute of Public Finance and Accountancy (CIPFA), this international conference provided an opportunity to explore the roles of public financial management (PFM) professionals in public sector digital transformation. The conference's primary focus was on the specific issues and examples in South East Europe.

Navigating Public Sector Asset Management Challenges in South East Europe: An Interview with Gorana Roje

We are happy to share some insights our associate fellow, Ms. Gorana Roje, provided about the nature of our successful cooperation in advancing public asset management in South East Europe (SEE). Ms. Roje is a Head of the Unit for State Asset Management Strategic Planning Coordination at the Croatian Ministry of Physical Planning, Construction and State Assets and supports us in delivering our three-year Efficient Public Sector Asset Management (EPSAM) learning program. The underlying ambition is to bring SEE countries closer to international standards and good practices and help overcome reform obstacles.

CEF-CIPFA Conference: Keeping Pace with the Digital Revolution

Together with the Chartered Institute of Public Finance and Accountancy (CIPFA) we are looking forward to welcoming public sector accountants, auditors, and other public officials engaged in the development and implementation of new digital approaches at our annual international conference. We will explore the current state of the digital revolution in the global public sector, with a particular focus on public financial management. The conference will take place on May 11, 2023, in Prishtina, Kosovo.

CEF and CIPFA Reaffirm Longstanding and Strong Partnership

Today CEF Director Jana Repanšek and International Director at Chartered Institute of Public Finance and Accountancy (CIPFA) Khalid Hamid signed a Memorandum of Understanding (MoU) to reaffirm the strong and successful partnership between CEF and CIPFA. Both organizations have a common interest in enhancing the quality of public financial management, governance, and accountability in the public sector.

Partnering with the CEF Has Always Been Enjoyable

Deon Tanzer has been involved in the delivery of several learning events where we discussed the relationship between government finance statistics (GFS) and the fiscal cycle, while underlining the importance of timely, accurate, and comprehensive data. Deon advises compilers in various national institutions on how to develop GFS data and data reporting, both for the IMF and the EU, in compliance with the fiscal reporting requirements (the so-called Maastricht deficit and debt and the Excessive Deficit Procedure). We were happy to talk to Deon about the highlights of working in South East Europe and our successful cooperation.

Ministry of Finance of North Macedonia on a Study Visit at CEF

We are wrapping up the 2022 learning season with a study visit of a group of officials from the Ministry of Finance of North Macedonia. This visit is part of our efforts to support the Ministry of Finance of North Macedonia in establishing and running the Public Finance Academy which is envisaged as a take-over institution for running the public accountants' certification training program.

2023 Learning and Knowledge Sharing Calendar is Out Now

As a key learning partner for public officials in South East Europe, we invite you to take a look at the 2023 learning calendar and start making your learning plans for the coming year. Our colleagues Nina Agić and Natasha Ilijeva Acevska share insights about our 2023 learning and knowledge sharing program highlights across key thematic priorities for our work. These include public financial management, central banking, leadership for managing reforms and learning and knowledge ecosystems.

Autumn Brings Several Learning Opportunities for Central Bank Officials

This fall we successfully delivered several learning activities for officials working at regional central banks and financial supervisory authorities. We discussed important developments and lessons learned in the areas of on-site banking supervision, accounting and financial reporting, and monetary policy. We complemented the program of the events with officials presenting practices implemented in their institutions.

2021 CEF-CIPFA Conference Wins Silver in London

Together with our partner the Chartered Institute of Public Finance and Accountancy (CIPFA) we participated the Association Excellence Awards 2022. We are proud we were awarded second place in the category for the Best New Event by an Association. This recognition is an additional motivation for excellent work also in the future.

Ms. Roje Joins a Team of CEF Associate Fellows

We are delighted to announce that our long year expert from Croatia, Gorana Roje has joined the expert group of CEF Associate Fellows. She joins a team of experienced professionals who have significantly contributed to the advancement of reforms in South East Europe (SEE) and beyond or have worked or done academic research of outstanding merit in the thematic areas relevant to the CEF.