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

Jasmina Popović

Officer, Learning Program

jasmina.popovic(at)cef-see.org

2023 Highlights

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.

Related events

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

Public sector asset management (PSAM) is a multi-dimensional area of public management. Efficient PSAM needs a coherent set of legal, institutional, and strategic policy prerequisites for making and implementing decisions about asset acquisition, use, and disposal. It also requires a holistic approach to the development of sound practical solutions. This holistic approach should be based on, and in turn reinforce, capacity building within governments, as the competence and motivation of officials are essential for leading and achieving public sector transformation.

Webinar: November 23, 2023

PACT MKD3 (L2): Graduation Ceremony

Conference: December 1 – 31, 2023

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.

We Are Ready to Start with Autumn Learning and Knowledge Sharing

Autumn is perfect for new beginnings and settling back into a learning and knowledge sharing routine again. Let words by our director Jana Repanšek be an invitation and motivation to join us for new learning opportunities either online or at our premises in Ljubljana.