Advanced Public Financial Management and Administration
5 Day Training
Locations: Grayston Ridge Office Park, Sandton
Platform: Available In-Class / Online
Price: Available on Request
Course Introduction
The Advanced Public Financial Management and Administration course (PFM) is essential for professionals involved with the finances of public sector entities, including national and state governments, ministries, departments, and local governments. Prospen Africa’s Advanced Public Financial Management and Administration course is a deep dive into the principles and practices of PFM, which is fundamental to the public sector’s efficient and effective financial operations.
Why should you attend this Masterclass?
The landscape of government expenditure is evolving swiftly. This Masterclass in Public Financial Management and Administration is designed for public sector professionals who need a thorough understanding of PFM principles to fulfil their pivotal roles.
Course Objectives
The ‘Masterclass in Public Financial Management and Administration’ aims to:
Impart comprehensive knowledge of the PFM cycle.
Explain strategies for budget preparation.
Highlight risks associated with budget execution.
Introduce internal control policies for budget execution.
Guide the evaluation and amendment of implemented policies.
Personal Benefits
Participants will gain the ability to:
Understand and interpret financial activity reports.
Effectively plan, set, and manage budgets.
Enhance the cost-effectiveness of services provided.
Confidently discuss financial matters within your team and with supporting finance personnel.
Identify and address early signs of financial problems.
Who should attend?
Advanced Public Financial Management and Administration course is tailored for:
Accountants and auditors in the government or public sector entities.
Individuals working in supreme audit institutions.
Diplomats, envoys, and ambassadors.
Public sector policymakers.
Training Methodology
Our diverse instructional approaches ensure effective learning:
– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.
Training Outline
Module 1: Introduction to Public Financial Management
Overview of PFM framework.
Objectives and importance of PFM.
Understanding fiscal policy.
The PFM budget cycle.
Module 2: Budget Strategy Development
Budgeting principles and techniques.
Effective revenue management.
Fundamentals of project management.
Module 3: Budget Formulation Process
Crafting the annual budget.
Planning for medium-term financial strategies.
Module 4: Budget Approval Mechanisms
Navigating legislative approval processes.
The role and implications of the PFM Act.
Legal considerations in budget approval.
Module 5: Executing the Budget
Strategies for efficient budget execution.
Managing the budget execution cycle.
Cash planning methodologies.
Principles of debt management and procurement.
Module 6: Accounting and Internal Control Systems
Utilizing Financial Management Information Systems.
Accounting standards – Accrual and Cash basis
Implementing robust internal control policies.
The function of internal auditing.
Module 7: The External Audit Process
The role of Supreme Audit Institutions.
Adhering to international auditing standards.
The function and impact of fiscal councils.
Legislative oversight and public participation.
Module 8: Evaluating Budget Performance
Feedback mechanisms for budget assessment.
Comparing actual financial performance against budgeted figures.
Ensuring fiscal transparency.
Revising budget strategies based on evaluation feedback.
Related Courses
GRAP Standards – Generally Recognised Accounting Practices (with updates)
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