ReCh Management Centre - Public Financial Management: Reporting and Auditing - Public Financial Management: Reporting and Auditing - View courses templates

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Public Financial Management: Reporting and Auditing

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Start DateVenue1 Week2 Weeks

Request a dateLondon 2,750 4,000
Request a dateDubai 2,750 4,000
Request a dateLondon 2,750 4,000

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Course Overview

This course covers the importance topic of accounting and accountability. Accounting is the core part of governance, which has gained such importance in recent years, especially in developing countries. Civil society organisations have also recognised the importance of public finance, with many of them now being active in the area of budget analysis.

This course is aims to enable you to have a broad understanding of the area to allow you to be able to review and understand the accounts and financial statements produced by governments and other public entities, and to understand the role and scope of audit in the public sector.

Actual practice varies considerably from country to country. So this course concentrates on the international standards for public sector financial reporting. The annual financial statements are a vital aspect of the accountability of the government to the legislature and to the wider society. Reforms of the content and the format of these documents should be assessed on the extent to which the proposals will make the accounts more accessible, more easily understood.

Course Objectives

At the end of this course you will be able to:

Understand the purpose and methods of accounting for public sector entities and governments
Assess the appropriate accounting base for different types of transaction
Describe the relationship between types of management controls and types of accounting
Describe how accounting standards are derived and propounded
Describe the main accounting standards and understand the differences among them
Understand the particular accounting problems of transactions that are exclusive to the public sector
Analyze the various financial management benchmarks and standards that are in operation in the public sector
Understand the principles and practices of audit in the public sector

Course Outline

Public Sector Accounting
What is Public Financial Management?
The Accounting Bases for Public Sector Financial Reporting
Workflow and the Accounting Base
The Role of the International Public Sector Accounting Standards Board
Financial Reporting under the Cash Basis of Accounting
The Cash Basis IPSAS and the Relevance of Consolidated Accounts for the Public Sector
Accounting for International Aid
Budget Reporting Standards
Application of IFRS to the Public Sector
IPSAS 1 to 21 – Definitions and Broad Principles
Interpretation of Financial Statements based on the IPSAS
Pensions – Employees
Social Policy Obligations – State Pensions
Heritage Assets
PEFA Benchmark for Public Financial Management
National Accounting Standards
The Roles and Scope of Public Sector Audit
Standards and Guidance for Audit in the Public Sector
Public Expenditure and Financial Accountability (PEFA) – Performance Measurement Framework
Independence and the Auditor-General
Audit Sampling
Audit Reporting
Value for Money Audit

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