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| Project Name: | Public Accountants Certification Training (PACT) |
|---|---|
| Status of Project: | Ongoing |
| Project Location: |
Regional - Europe & Central Asia Country - Montenegro |
| Focus Area(s): | Accounting education, training, and professional qualification |
| Recipient | Government of Republic of Montenegro |
| Donor | United Nations Development Program - UNDP Partnership for Results in the International Development Cooperation
|
| When did/will the project commence? | 2015-01 |
| When was/will the project be completed? | 1969-12 |
| Project Objectives: | High-quality financial reporting is crucial to effective financial management in the public sector. It relies on a strong accounting process, supported by expert internal and external audit services. PACT addresses this critical need and emphasizes the importance of establishing and observing international public sector accounting standards and helps countries raise the status of the accounting profession in line with EU member states. |
| Key Project Components: | Using a train-the-trainer model, CIPFA and partner Center of Excellence in Finance delivered a post-graduate, professional one-year training program to certification level. It focused on the practical application of accounting and audit standards to the special circumstances of the public sector. |
| Key Project Outputs: | PACT Montenegro trained up to 40 public sector accountants in 2016 certificate level. Training materials also delivered to the government |
| Key Project Outcomes: | Certification of first cohort students has been achieved. Ministry of Finance has set up a working group for localization of the certification program (Dec 2015). |
| How was the project initiated? | UNDP on-going partnership with Center of Excellence in Finance (CEF). |
