Jun 19, 2018

Montenegrin Public Accountants Awarded International Certificates

23 students enrolled in the second generation of Public Accountants Certification Training (PACT) in Montenegro that successfully completed their studies were awarded with Chartered Institute of Public Finance and Accountancy (CIPFA) certificates. The graduation ceremony was held on June 15, 2018 at the Human Resources Management Authority in Podgorica, Montenegro.

The PACT program trained public sector accountants in international standards and practices as well as Montenegrin public finance and accounting legislation and tax policy. The program supports the initiative of Government of Montenegro to establish and observe international public sector accounting standards and raise the status of the accounting profession in line with EU member states. Mr Darmanović, General Director of the Directorate for State Treasury at the Ministry of Finance, Montenegro emphasized at the graduation ceremony that Montenegro is ahead of demanding reform of public sector accounting and supporting each student is crucial in this process.

The program was delivered in cooperation with the Ministry of Finance of Montenegro, Montenegrin Human Resource Management Authority and eleven tutors, trained by CIPFA and the CEF. The training material, designed by CIPFA, was translated into the Montenegrin language and the lessons were conducted by local experts in the local language. 

The program was financially supported by the US Government through the US Embassy and the Government of the Republic of Slovenia with funds through the Slovenia's Development Cooperation, while the Ministry of Finance of Montenegro and the CEF provided in-kind support to the project.

This project is a continuation of an initiative in collaboration with the United Nations Development Program (UNDP) in 2015 and 2016. The first generation of students successfully completed the training in December 2016. There are good prospects for continuation of the project and its localization in the country.