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

PACT MKD3 (L2): Business and Change Management

Certification Module: March 20 – June 6, 2023

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

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.