The PACT training course is part of the Montenegrin government’s efforts to build and strengthen professional qualifications for public sector accountants. The internationally recognized, professional qualification program will be implemented jointly by the CEF and the Chartered Institute for Public Finance and Accountancy (CIPFA). The CIPFA developed materials and it will award international certificates and diplomas to successful attendees.
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.
In addition to PACT, Training of Internal Auditors in the Public Sector (TIAPS) is taking place in Montenegro. The opening ceremony for the third generation of public sector internal auditors took place in April, 2015. Tangible improvements in internal auditing in public sector are seen as a result of TIAPS activities.
More information on PACT program is available here.