Public Financial Management

Public Finance Managment (PFM) refers to the set of laws, rules, systems and processes used by sovereign nations (and sub-national governments), to mobilise revenue, allocate public funds, undertake public spending, account for funds and audit results. It encompasses a broader set of functions than financial management and is commonly conceived as a cycle of six phases, beginning with policy design and ending with external audit and evaluation.
 

We offer a range of consulting in the Public Financial Management Reforms in the following areas:

  • National Budget classifications,
  • Support to Internal Audit functions,
  • Development of policies, standards, procedures, manuals and controls and their integration for fiscal and financial reporting in all levels of government,
  • Treasury and Government financial rules and procedures,
  • Review of Public Sector Financial Management Systems,
  • Design and implementation of Government Financial Management Systems,
  • Preparation of Financial Statements,
  • Implementation of revenue improvement policies,
  • Preparation of Government fixed asset registers.
  • IFMIS Quality Assurance and Reviews.

Some of our projects include:

World Bank:
  1. Project management of Integrated Financial Management Information System (IFMIS) for Sierra Leone Ministry of Finance.
  2. Advisory support for the IFMIS rollout and IBEX enhancement for Ethiopia Ministry of Finance and Economic Cooperation.