Category:
Activities - News
Published on:
17. September 2020.
_TAJ4880

Closure of the EU Twinning Project “Support to Further Development of Public Internal Financial Control (PIFC)”

Serbia has made remarkable progress in building a modern and efficient public finance management processes at all government levels, expressed in a more transparent use of public resources.

By transferring best practices, experiences and specialized know-how between the Member State (France) and the Beneficiary Country (Serbia) and after 36 months of implementation the EU funded project achieved the results and exceeded expectations.

The twinning project “Support to Further Development of Public Internal Financial Control (PIFC)” between the Ministry of Economy and Finance of the Republic of France and the Central Harmonization Unit (CHU) established within the Ministry of Finance of the Republic of Serbia was financed by the European Union and co-financed by the Republic of Serbia. The total value of the project was 2 million euros. Experts that worked on the project came from different Member States, such as France, the Netherland, Slovakia and Croatia, and they brought with them different perspectives and experiences that were invaluable for their colleagues in Serbia.

The first component of the project referred to the development of the methodological framework for the concept of managerial accountability. The concept of managerial accountability is comprehensively elaborated in the Guidelines on Managerial Accountability, which is complemented by a video presentation of this concept, made in an accessible and engaging style, for anyone who wants to learn more about its characteristics and possibilities (the video can be found on the YouTube channel of the Ministry of Finance).

The efforts of the project in this area remained in the spotlight and several recommendations of the Serbia 2019 Report by the European Commission, were directly addressed by the activities implemented within the project.

The activities implemented within the second component of the project, which was dedicated to improving the independent function of the internal audit, were designed to enhance and strengthen the internal audit methodological framework and staff capacity.

The third component was aimed at strengthening the position of the Central Harmonization Unit.

In conclusion, the twinning project ended by leaving a legacy of laid foundations in the shape of necessary instruments that will promote the emergence of a modernized management, which is based on performance and transparency. Promoting better service delivery for citizens and a reinforced target for managers who should always keep in mind the necessity to act in the interest of public.

All guidelines and other important documents are available on the Ministry of finance website:

https://www.mfin.gov.rs/en/about-the-ministry/financial-management-and-control/

https://www.mfin.gov.rs/en/about-the-ministry/internal-audit/

https://www.mfin.gov.rs/en/about-the-ministry/managerial-accountability/