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Organization of trainings and certifications in the field of PFM in Montenegro

Nina Blečić, Marija Uljarević, Head of Department for FMC CHU Head of Department for Budget Accounting and Reporting Ministry of Finance of Montenegro

Hague, 06/11/2018

Ministry of Finance is in charge for PFM

• CHU is in charge to provide trainings for:
• Managers
• Internal auditors
• Treasury is in charge to provide trainings for:
• Accountants

Trainings and certifications in Montenegro

• Programme for acquisition and improving skills and

knowledge for PIFC

• Programme of continuous education of internal auditors

in public sector,

• TAIPS-Traninig for internal auditors in public sector
• PACT- Public Accountants Certification Training

The Montenegrin Public Administration Reform Strategy (2011-2016):

• Stability of public finance;
• Improved control system of budgetary spending;
• Improved system of accounting;
• Streamlined the work of state administration.
• The Strategy for the transition to accrual accounting was adopted in March

2015

• Action plan prepared by the Ministry of Finance of Montenegro and adopted by

the Government on March 8, 2018.

• One of the main objectives defined by the Strategy was training of public

accountants

• Draft of the Law for Public Sector Accounting – for the forst time recognizes a title

,,Certified Public Accountant”

• In 2016. Ministry of finance – Treasury Directorate started the project PACT (Public

Accountants Certification Training) in cooperation with CEF from Slovenia (Centre of excellence in finance) and according to the CIPFA program

• CIPFA (Chartered Institute of Public Finance and Accountancy) - One of the leading

professional accountancy institutions

Program

• two levels – Certificate and Diploma level
• Certificate level – three modules (two international and one national module)

Learning methodology

• In classroom training and tutorilas

Examinations

• Formal examination dates are set for the end of each module

Curriculum

• Certificate level

Diploma level

Management accounting Financial Accounting National Public Finance and Accountancy Legislation and Taxation Audit and Assurance Managing Finance Managing Organizations Public Sector Financial Reporting

Benefits

Internationally recognized qualification High-quality training materials Flexible training methods How to acquire international certificate for public accountant?

Invitation from the Ministry of finance National module International Modules (FA, MA) Exams CIPFA CERTIFICATE

Table 2. Overview of certification of public accountants from 2016-2018

2016 2017 2018 Total

Number of accountants who were included in the training program

40 40 40 120

Number of accountants who aquired the CIPFA certificate

24 23 ... 47

Precentage of passing

60% 57,5% .... 58,75%

Localization

• In 2016. localization working group established by the Ministry of finance in order to to

ensure the continuity of the project and reduce the risk of its financing 1) SWOT analysis for localization 2) Drafting of strategic plan for localization 3) Drafting the by-laws on establishment of training infrastructure based on the findings and recommendations of the Localization working group 4) Drafting of by-laws relevant for introduction of certified accountant title; 5) Estimate training costs with and/or without CIPFA; 6) Produce the Manual for implementing institutions and division of responsibilities;

• Montenegrin Human Resource Management Authority is regognized as the institution

which will continue accountants training program

• Programme for acquisition and improving skills

and knowledge for PIFC for managers

Topics:  Internal control  Risk management

Workshops for managers 2016 2017 2018 13 11 9

• Programme for acquisition and improving skills and

knowledge for PIFC for internal auditors Topics:  Sampling  Writing Audit Report  Methodology (planing, conducting IA)  IT risk  Audit of EU Funded Programs / Projects

2016 2017 2018 20 17 10

Development of internal audit in public sector of Montenegro

• Centralized internal audit (2004)
• Decentralized

function

• f

internal audit (from 2008)

Certification

• f internal

auditors

National certificate CIPFA Certificate

How to acquire national certificate for internal auditor? Theoretical training

(10 days)

Written exam

(Standards, Methodology and FMC)

Practical training

(conducting audit with mentor assistance)

Oral exam

NATIONAL CERTIFICATE

How to acquire CIPFA certificate for internal auditor? Public announce ment Eliminatory test National Module Internation al modules (PSAFR, G&C, IAF) Exams

CIPFA CERTIFICATE

Table 1. Overwiew certification of internal auditors from 2012-2018

2012 2013 2014 2015 2016 2017 Nov 2018

National certificate

7 14 26 31 61 67 67

CIPFA certificate

16 44 44 69 69 79

CIPFA practical training

25 67 67 67

Percentage of certified appointed internal auditors

Thank you for attention!