Masterclass in Public Financial Management and Administration

Why Select this Training Course?

The Masterclass in Public Financial Management and Administration constitute your doorway to gaining mastery of the technical domain of public fund administration. Through parsimonious financial management, accountability, and clarity, it endows you with tools that shall improve implementation and make the success of public service easy to achieve. This comprehensive course that is tailored in such a way to give participants a clear understanding of the PFM principles of today, fiscal policies and institutional practices.

Why is this course integral for today’s public-sector financial professionals?

In a time of rapidly rising challenges, starting from financial issues and ending with evolving demands, this training is vital and very much needed in order to help professionals to succeed in fulfilling their responsibilities, which ensure the financial sustainability of the public services.

How does the course stay abreast of the latest PFM practices and technologies?

Our curriculum is regularly evaluated and revised to contain the newest developments, most useful methods and technological advances in PFM. Therefore, participants will be equipped with modern tools and strategies to tackle any challenges arising while at work.

Who Should Attend?

This masterclass is particularly beneficial for:

• Public Sector Financial Managers and Officers
• Government Policy Makers
• Auditors involved in the Public Sector
• Public Sector Administrators
• Financial Analysts in Government Agencies
• Treasury Personnel
• Development Partners and Donor Agencies Staff

What are the Course Objectives?

By the end of the course, attendees will be able to:

• Develop a well thought-out budget and execute it competently.
• Impose accountability and transparency in the financial reportage.
• Exploit and live up to the public sector auditing standards.
• Strategically formulate and effectively implement fiscal policy.
• Explore modern technologies that will play a vital role in improved service delivery in PFM.

How will this course be presented?

The course will be delivered through:

• Expert-led presentations underpinned by the latest PFM theories and practices.
• Interactive workshop and case studies on dealing with real-life problems in the industry.
• Group discussions to exchange ideas and expertise from different jurisdictions.
• Practical exercises with the current relevant PFM tools and software.
• Scenario examination to develop strategic decision-making competencies.

What are the Topics Covered in this Course?

Module 1: Principles and Practices of PFM

• Overview of PFM in the public sector.
• Key elements and principles underlying sound PFM.
• Fiscal responsibility and management laws.
• The budget cycle and its significance.
• Outcome-based budgeting approaches.
• Transparency and citizen engagement in PFM.
• Public financial management information systems (PFMIS).

Module 2: Budgeting and Fiscal Planning

• Strategic planning and fiscal policy development.
• Techniques for effective budget formulation.
• Medium-Term Expenditure Frameworks (MTEF).
• Zero-based vs. incremental budgeting.
• Budget classification and chart of accounts.
• Fiscal space analysis for policy making.
• Public-private partnerships (PPPs) and budget considerations.
• Gender-responsive budgeting.
• Managing off-budget expenditures.
• Linking performance to budget allocations.
• Scenario planning and stress testing in budgeting.

Module 3: Public Sector Accounting and Reporting

• Accounting standards in public sector (IPSAS).
• Financial reporting and consolidation.
• Cash vs accrual accounting in the public sector.
• Asset and liability management.
• Grant and donor accounting.
• Debt reporting and management.
• Pension accounting and obligations.
• Management of contingent liabilities.
• Managing fiscal risks and long-term sustainability.
• Preparing financial statements and end-of-year accounts.

Module 4: Internal Controls and Risk Management

• Designing internal control frameworks.
• Risk assessment methodologies.
• Control activities to mitigate financial and operational risk.
• Information and communication technologies in risk management.
• Monitoring controls and conducting internal audits.
• The role of the audit committee.

Module 5: Public Sector Auditing

• Types of audits in the public sector.
• International Standards of Supreme Audit Institutions (ISSAI).
• Values and benefits of public sector auditing.
• Forensic audits and fraud detection.
• The role of Supreme Audit Institutions.
• Governance and independence of public sector auditors.
• The performance audit process.

Module 6: Advances in Government Financial Management

• Integrating e-government strategies in financial management.
• Leveraging Big Data for improved financial decision-making.
• Blockchain technology for transparency and accountability.
• Artificial intelligence and machine learning in PFM.
• Cybersecurity frameworks for protecting public financial data.
• Innovations in digital payments and revenue collection.
• Mobile technology in enhancing public financial service delivery.
• Internet of Things (IoT) applications in asset management.
• Public sector financial management in volatile times.
• Green finance and climate change budgeting.
• Managing public investments for economic development.
• Digital financial reporting and data analytics.
• Fostering financial inclusion through government initiatives.

Module 7: Fiscal Decentralization and Local Government Finance

• The principles and mechanisms of fiscal decentralization.
• Intergovernmental transfers and their fiscal impact.
• Frameworks for local government revenue generation.
• Financial management capacities at the local level.
• Capital budgeting and infrastructure finance for local governments.
• Local government borrowing and fiscal autonomy.
• Performance measurement for local government services.
• Accountability and citizen participation in local government finance.

Module 8: Public Expenditure Management

• Public expenditure policy, classification, and review.
• Efficiency and effectiveness in government spending.
• Value for money audit and public expenditure tracking.
• Addressing fiscal imbalances and expenditure controls.
• The role of expenditure planning in macroeconomic stability.
• Managing public procurement and supply chain.
• The impact of demographics on public spending.
• Financing social protection and welfare programmes.

Module 9: Revenue Mobilisation and Taxation Policies

• Principles of efficient tax systems.
• Tax policy design and administration.
• Digital tax administration reforms.
• Domestic resource mobilisation strategies.
• Addressing tax gaps and non-compliance.
• Customs and excise tax management.
• Tax incentives and their impact on public finances.
• International taxation and its implications for public finance.
• Managing voluntary compliance and taxpayer services.
• Environmental taxation and green fiscal policy.

Module 10: Sectoral Financial Management

• Sectoral budgeting and resource allocation.
• Financial management in health care and education.
• Public financial management in utilities and infrastructure.
• Defence and security sector financial management.
• Financial challenges in natural resource management.
• Performance-based budgeting in public sectors.
• Impact assessments and financial sustainability in sector planning.
• Managing donor funds and international aid effectiveness.
• Sectoral reform and capacity building.
• Ensuring equity and inclusiveness in sectoral financial management.

Module 11: Governance, Anti-corruption, and Ethical Standards

• Corporate governance models in the public sector.
• Role of transparency in preventing corruption.
• Developing effective anti-corruption strategies.
• Ethics and integrity in financial administration.
• Whistleblower protections and fraud awareness.
• Implementing the United Nations Convention against Corruption (UNCAC).
• Public finance role in national integrity systems.
• International cooperation in combating corruption.

Module 12: PFM Reforms and Change Management

• Planning and implementing PFM reforms.
• Change management strategies in the public sector.
• Utilising Public Expenditure and Financial Accountability (PEFA) framework.
• Engagement with stakeholders in the reform process.
• Monitoring and evaluating PFM reform performance.
• Capacity development and training for sustainable reforms.

Module 13: Global Trends and Comparative PFM

• Benchmarking PFM systems against global standards.
• Lessons learned from PFM reforms in different countries.
• The role of international financial institutions in PFM.
• Comparative analysis of fiscal responses to global crises.
• Cross-border collaborations in public finance.
• Investigating the future direction of PFM practices.

Module 14: Public Finance and Development

• Public finance in the sense of socio-economic development.
• Management of sustainable development goals (SDGs).
• The role of PFM in poverty reduction: a well-structured system.
• The importance of fiscal management for inclusive growth at the level of the public sector
• Awareness of the role of public spending in the development of human capital.
• Policy innovations in public finance for development objectives.
• Mitigating inequality through public financial policies.

Module 15: PFM and Environmental Stewardship

• Learning the economic values of the environment in public finance.
• Financing climate change control and adaptation.
• Sustainable use of natural resources through PFM practices.
• The combining of environmental impacts in budgetary procedures.
• The role of PFM: determines sustainability.
• Eco-fiscal reforms and green budgeting.

Module 16: Leading and Managing PFM Institutions

• Leadership skills for successful financial managers.
• Human resource management in finance-oriented public institutions.
• Performance appraisal and staff development.
• Strategic communication within and across PFM institutions.
• Building and maintaining effective teams.
• Stakeholder engagement and managerial ethics.
• Embracing diversity and inclusivity in financial leadership.