New Generation of Montenegrin Public Accountants is Starting with International Certification Training
We are glad to announce that United Nations Development Program (UNDP) secured financing for continuation of the Public Accountants Certification Training (PACT) in Montenegro that will enable training of up to 40 public sector accountants in 2016.
All preparatory activities in the course of the project are successfully concluded and we are entering into the second delivery phase of the project. The project preparatory phase included translation of the course materials, selection and training of tutors, selection of students, evaluation of current legislative status of public accountants, and establishment of public sector working group that will support localization of the training program and its sustainability in Montenegro.
In the second phase we will start with the delivery of training program for up to 40 public sector accountants. Training of students will be conducted in three modules: two international modules, on financial accounting and management accounting, that were developed by the Chartered Institute for Public Finance and Accountancy (CIPFA) and the third national module focused to local legislation and taxation, which was developed by experts from the Montenegrin Ministry of Finance. Each module takes approximately two to three months and is completed with successfully passed exam.
The PACT training course is part of the Montenegrin government’s efforts to build and strengthen professional qualifications for public sector accountants. High-quality financial reporting is crucial to effective financial management in the public sector. It relies on a strong accounting process, supported by expert internal and external audit services. PACT addresses this critical need and emphasizes the importance of establishing and observing international public sector accounting standards and helps countries raise the status of the accounting profession in line with EU member states.
PACT training materials are developed by the CIPFA that will also award international certificates and diplomas to successful attendees.
This professional certification program is made possible through funding from the United Nations Development Program (UNDP). Ministry of Finance of Montenegro and the CEF offer to the program in-kind support.
More information on PACT program is available here.