The Ministry of Finance hosts a round table on development of state internal financial control

6/16/17

On June 16, the Ministry of Finance hosted a round table on the development of state internal financial control. The round table was attended by heads of internal audit units of ministries, other central bodies of executive power, regional administrations and Kyiv city administration.

The meeting was chaired by First Deputy Minister of Finance Oksana Markarova and conducted as a part of the bilateral cooperation between the Ministry of Finance of Ukraine and the Ministry of Finance of the Netherlands.

Opening the event, First Deputy Minister of Finance Oksana Markarova said that the development of state internal financial control is an important part of the reform of state finance management with a special focus of complying with budgetary discipline in the mid-term run and increasing transparency and accountability.

It was stressed that the mid-term budget planning which is being implemented in Ukraine shall contribute to the design of budget policy based on a strategic approach to determining its key areas. The key element for this will be the mid-term Budget Declaration. During the debate on the Budget Declaration in the Parliament the main entities entitled to manage public funds will be reporting on their results.

In this context, the build-up of an effective and operable system of internal control and internal audit is the responsibility of each entity entitled to manage public funds. Also, the priority steps of the Ministry of Finance for the further development of the state internal financial control were outlined which include the assessment of the overall development of internal audit and preparation of proposals on its development priorities, implementation of a continuing training program for internal auditors and pilot projects for internal control and audit.

Oksana Markarova also emphasized that the build-up of the system of state internal financial control requires joint efforts and partnership between the Central Unit of Harmonization of the Ministry of Finance and units for internal audit.

The participants of the meeting actively discussed the key areas of the further development of state internal financial control as well as issues in the work of internal audit units of the public sector of Ukraine.

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