The aim of this event is to discuss how to strengthen internal financial reporting, financial planning, and budgeting practices that support evidence-based decision-making process using timely and accurate financial data.

Background

Despite the fact that according to Plato, “a good decision is based on knowledge and not on numbers”, one of primary tools for decision-making is information. Reports are highly structured form of presenting information; effective and timely reporting is crucial for running daily business in a fast-changing environment. Moreover, ex-post analyses and reporting are basis for improvements in business or policy making.

What will you learn

This course will address how to concisely and effectively generate and communicate financial information to decision-makers. We will touch upon drafting of financial reports, their internal communication, organization and processes. Through practical examples and cases from central banks and ministries of finances, the course will introduce different approaches and tools that can be used for the design of reports and their communication within the organization.

Throughout different learning formats (webinars, assignments and online discussions), participants will have opportunity to jointly discuss:

• How to achieve better organization and optimization of internal reporting function

• How to improve efficiency of internal reporting and what types of reports to use

• How to present financial data and communicate information with internal stakeholders

• How information support decision-making process inside the organization

• What is the role of internal finances and reporting in strengthening accountability mechanism and responsiveness to external challenges

Who should attend

• Officials from internal finance, accounting, and controlling departments in central banks
• Officials from ministries and other public sector institutions involved in any kind of internal reporting, not necessarily financial

Faculty

The learning initiative will be delivered under the guidance of:

• Saša Jazbec, CEF Expert and former State Secretary, Ministry of Finance of Slovenia
• Khalid Hamid, Director of International,The Chartered Institute of Public Finances and Accountancy (CIPFA), UK
• Mohit Pun, Senior trainer, The Chartered Institute of Public Finances and Accountancy (CIPFA), UK
• Aliona Vacarita, Director of Budget, National Bank of Moldova
• Vesna Filipovska, Director of  Financial and Accounting Department, National Bank of the Republic of North Macedonia

Practical information

• Applications should be submitted by June 11, 2020 via this application form. Candidates will first be approved by the CEF; confirmations will be sent to selected candidates by June 12.
• This course will be delivered on the CEF Online Learning Campus
• To participate at this course basic information technology is needed (internet connection, and computer, tablet or smartphone)
• The course will be held in English language
• Envisaged workload is 4 hours per week. It includes three online meetings (see the timeline on the right side of the page), self-paced study of learning resources and peer-to-peer discussions. Presence is required only during the online meetings that will last up to 1,5hrs
• Upon fulfillment of the required learning steps, you will receive a certificate of successful completion of this online course
• No fee will be charged

Partners

This learning initiative was supported by: