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 Chartered Institute for Public Finance and Accountancy (CIPFA) that will also award international certificates and diplomas to successful attendees.
Funding for the project preparatory phase which includes selection and training of tutors, translation of the material and evaluation of current legislative status of public accountants is secured until end of 2015. Project delivery phase that aims to train up to 40 public sector accountants will follow in 2016.