In Moldova, the discussion continues on the components of the Strategy for the Development of Public Finance Management for 2023-2030.
The Ministry of Finance announced this, noting that at the end of last week, together with the Mission of Supreme Advisors of the European Union, it organized the second session of public discussions on the components of the said strategy, during which the main aspects related to its 4th component were considered: State Internal Financial Control. Opening the event, State Secretary of the Ministry of Finance Vladimir Arachelov noted that state internal financial control is an important initiative to strengthen responsible and effective governance in Moldova, especially in the context of the country’s efforts to join the EU. “Within the framework of the Development Strategy for Public Finance Management for 2023-2030 public financial control is a consolidated system, in line with EU practice, that guarantees good governance in the public sector and functions as a proactive mechanism, identifying and addressing risks before they materialize, thereby protecting the financial integrity and efficiency of public institutions,” he said. Program Manager of the EU Delegation to Moldova Josip Juric emphasized the need for constant progress in the field of public administration, including in the field of public financial management, noting that this is very important for Moldova as a candidate for EU accession. This year, for the first time, the European Commission is going to prepare a study on the enlargement package that will include Moldova, which will assess its progress under various chapters of EU legislation. For his part, EU High Adviser on Customs and Fiscal Policy Rosario de Blasio noted that in order to have realistic and feasible public financing, active participation in the further development of implementation documents by components and policy areas is critical. The discussion panel was moderated by Secretary of State Vladimir Arachelov, who, together with representatives of the Court of Accounts, the EU Delegation and the Association of Internal Auditors, discussed the development of the prospects for the system of state internal financial control in the context of accession to the EU, the synergy between its main functions in relation to external audit and how civil society can help develop the internal audit function. One of the goals of the Public Finance Management Development Strategy for 2023-2030 is to ensure that public funds are used in accordance with the principles of good governance by introducing internal management control and internal audit in public organizations based on EU standards and best practices. At the same time, the document provides for priority areas: strengthening mechanisms for planning and reporting activities based on performance indicators and risks; increasing managerial responsibility for managing public funds in accordance with the principles of good governance by strengthening internal management control systems in the public sector; strengthening the internal audit function at all levels of government; promoting the concept of state internal financial control, its role, responsibilities, etc. It was noted that staff shortages are a problem noted in all reports on the assessment of state internal financial control and the solution to this problem could be the introduction of two important tools covering the segment of internal state audit in government organizations - internal audit of the association and audit on the basis of a contract. Herewith, the discussion participants also noted the importance of training managers in the field of internal management control, cooperation between authorities and professional associations in the field of audit and the development of operational guidelines in the field of audit. The first session of a series of public discussions on the Development Strategy for Public Finance Management for 2023-2030 was devoted to the 5th component – Tax and customs policy and revenue management. The sessions, which will be organized before the end of this year, will cover other components of the strategy: Macroeconomic analysis and budgetary framework; Budget development and planning; Budget execution, accounting and reporting; Government procurement and transparency of public finances. // 16.10.2023 — InfoMarket.
