Public Financial Management: Issues and Solutions

Description

Introduction:

Improving the effectiveness of a PFM system may generate widespread and long-lasting benefits, and may in turn help to reinforce wider societal shifts towards inclusive institutions, and thus towards stronger states, reduced poverty, greater gender equality and balanced growth. PFM systems are essential for the achievement of government policy and development objectives.

You will explore the important management theories and strategic planning frameworks essential to understanding the current issues and trends in integrated PFM reforms

Course Content

• Module 1 – Introduction: PFM and origins of PFM reforms
• Module 2 – Financial Reporting and Public Sector Finance Simulation
• Module 3 – Planning and Budget Management
• Module 4 – Value for Money
• Module 5 – Risk Management
• Module 6 –Revenue Management
• Module 7 – Expenditure management, Procurement and Financial Accountability
• Module 8 – Public sector budgeting and the concept of programme and performance budgeting
• Module 10 – Best Practice in Contract Management
• Module 11 – Internal audit Modern
• Module 12 – Effective communication of Financial Information
• Module 13 – Governance and fraud prevention

Learning Outcomes

• Interpret and reflect on simple public sector financial statements
• Lead or participate in developing solutions to contemporary PFM challenges
• Explore how public sector organisations are held accountable to the public
• Define the benefits of Medium-Term Expenditure Framework (MTEF) reforms and budget processes and assist in the realisation of these benefits
• Execute budgets and understand cash management, public procurement and internal controls so as to help raise transparency and reduce ‘leakage’
• Improve PFM compliance by taking account of developments in public sector financial reporting standards
• Discuss how auditing is conducted in public sector organisations
• Define the PFM oversight function, the role of the Public Accounts Committee and external audit agencies
• Shape reforms to address deficiencies in transparency and accountability frameworks