Feb 5, 2018

Regional Conference on Transition to Accrual Accounting Successfully Concluded

Public sector accountants from Macedonia, Montenegro, and Serbia gathered in Podgorica, Montenegro on January 30 and 31, 2018 with accounting experts from the ministries of finance of Malta and Slovakia, representatives of leading international institutions such as Zurich University of Applied Sciences (ZHAW), Chartered Institute of Public Finance and Accountancy (CIPFA), and the International Monetary Fund (IMF) for the regional Conference on transition to accrual accounting. The Conference was part of the Public Accountants Certification Training (PACT) projects in Serbia and Montenegro.

Conference program explored how reforms in accounting and reporting systems and practices contribute to improved government capacity for public financial management (PFM). High-level officials from the Ministry of Finance in Montenegro and in Serbia presented the respective PFM reform policy papers and positioning of the accrual accounting reform in the broader context of fiscal management, budgeting and internal control reforms. International experts presented the options and challenges in the course of the transition, together with recommendations for overcoming them. 

Special focus was placed on human resource capacity development and the programs of training and certification for public accountants. Ministry of Finance representatives from Slovakia and Malta presented good practice and lessons learned in the transition, covering varied aspects of the reform including IT and human resource development, change and project management and collaboration with other reform stakeholders including managers, external auditors and parliamentarians. All presentations were followed by panel discussions that provided the participants with an opportunity to interact directly with leading global experts and practitioners in accrual accounting reform. Targeted focus groups of participants were organized to discuss country-level challenges in practical implementation of selected International Public Sector Accounting Standards (IPSAS) while networking activities between the intensive program supported peer to peer learning and exchange of experience.   

PACT projects in Serbia and Montenegro are funded by the US Government/United States Agency for International Development (USAID) and the Government of the Republic of Slovenia via Emerging Donor Challenge Fund. The Ministries of Finance of Montenegro and Republic of Serbia, and the CEF also contribute to project activities. The CEF is the implementing partner in cooperation with the CIPFA.

See digital story from the conference and find additional information about the conference here.

Find audio highlights, speeches and photo gallery from the conference on the pages of Ministry of Finance, Montenegro