Oct 22, 2018

Third Generation of Montenegrin Public Accountants Starting Certification Training

Together with Ministry of Finance of Montenegro, the Human Resources Management Authority (HRME) we officially opened the Public Accountants Certification Training (PACT) training in Podgorica, Montenegro. New generation of PACT students, tutors, representatives of beneficiary institutions and donors gathered at opening ceremony in the premises of HRME. The PACT program will train 40 public sector accountants.

Development of the public sector accounting profession is an important priority in the accounting reform in Montenegro. PACT is aligned with the professional development needs of public finance officials in Montenegro, and the 2015 Strategy for the transition to accrual accounting, adopted by the Government of Montenegro. It supports the Government of Montenegro’s to raise the status of the accounting profession in line with EU member states.

The PACT program for third generation of public sector accountants will train 40 public sector accountants in international standards and practices, as well as the public finance and accounting legislation and tax policy of Montenegro. It will provide high quality training materials and issuing international certificates to successful graduates. The CEF has previously supported 2 generations of PACT students carried out in 2016-2018, and 47 public accountants were awarded an internationally recognized CIPFA certificate.

New generation of students was welcomed by H.E. Mitja Močnik, Ambassador of the Republic of Slovenia in Montenegro, Marianna Macášková, Development Cooperation Specialist at the Ministry of Finance of the Slovak Republic, Svetlana Vuković, Director of the Human Resources Management Authority of Montenegro, Marija Uljarević, Head of Division for Budget Accounting and Reporting at the Ministry of Finance of Montenegro and Robert Bauchmuller, CEF Chief Program Officer.“It is great to see that Montenegro puts emphasis on the capacity building of their public accountants”, said Marianna Macášková and added:“your participation here demonstrates that you are using the opportunity of reforming the public accounting and reporting system”. H.E. Mitja Močnik explained that Montenegro is one of the most significant countries for the Slovene international development cooperation and emphasized that training is extremely important for establishing international standards and practices in the accounting area.

The program is financially supported by the Ministry of Finance of the Slovak Republic, and the Slovene Ministry of Foreign Affairs through Slovenia’s International Development Cooperation. The Ministry of Finance of Montenegro and the CEF will provide in-kind support to the project.

This project will be implemented by the CEF and it will include localization efforts of the beneficiary to sustain and independently run the training in the country.