Course Overview:
The course focuses on the tools and understanding that public managers in all parts of the public sector require to ensure the successful and prudent tax management in good public policy design, implementation and operation. Participants will explore budgeting, financial reporting, auditing, and financial control mechanisms designed to enhance transparency, accountability, and efficient use of public resources. The course will cover both theoretical and practical aspects, equipping participants with the skills needed to manage finances effectively in government agencies and public institutions.
Duration
5 Days
Who Should Attend
- Government financial managers and accountants
- Public sector budget officers
- Policy makers involved in public finance
- Auditors and financial analysts working in the public sector
- Professionals involved in fiscal planning, reporting, and expenditure management
- Public sector administrators responsible for resource allocation
- Project managers in public-funded projects
Course Objectives
By the end of this course, participants will be able to:
- Understand the principles and frameworks of public sector financial management.
- Implement effective budgeting and resource allocation strategies.
- Interpret and prepare financial statements and reports in the public sector context.
- Apply financial control mechanisms to ensure compliance and accountability.
- Analyze public expenditures and assess performance through auditing and financial analysis.
- Understand legal and regulatory requirements governing public sector finance.
- Manage financial risks and implement internal controls to prevent fraud and mismanagement.
Course Outline:
Module 1: Introduction to Public Sector Financial Management
- Overview of public financial management systems
- Key differences between public and private sector finance
- Legal and regulatory frameworks
- Principles of transparency, accountability, and fiscal responsibility
Module 2: Budgeting and Resource Allocation
- Types of public sector budgets (performance, zero-based, program-based)
- Budgeting process and cycle in the public sector
- Tools and techniques for resource allocation
- Budget execution and monitoring
Module 3: Financial Reporting and Compliance
- Understanding public sector financial statements
- IPSAS (International Public Sector Accounting Standards) overview
- Financial reporting requirements and disclosures
- Ensuring compliance with public financial regulations
Module 4: Financial Controls and Auditing
- Internal control systems in the public sector
- Risk management and fraud prevention
- Public sector audit processes (internal and external)
- Conducting performance audits and financial analysis
Module 5: Public Expenditure and Financial Accountability (PEFA)
- Overview of PEFA framework and its application
- Measuring financial performance and accountability
- Public expenditure management and reform initiatives
- Case studies on public sector financial management best practices
