EUR 2 million for development of financial control in Serbia

A two-year PIFC twinning project, worth EUR 2 million, aiming to establish a modern and efficient public finance management system on all government tiers through the transparent usage of public funds in Serbia, was presented on March 15 at the Palace of Serbia, as announced on the website of the Government of Serbia.

This twinning project of the French Ministry for the Economy and Finance and the Central Harmonization Unit of the Ministry of Finance of Serbia will enable the transfer of best practices, experiences and expert knowledge between the two partners, in line with the harmonization of Serbian regulations with the EU acquis.

Expertise France, the French agency for international technical cooperation, is in charge of carrying out the PIFC twinning project.

In line with international standards and the best EU practices, the project will provide special support to the modernization of the public finance management system, focusing on internal financial control in the public sector, it is said.

The partnership of Serbia and France will enable a further development of internal financial control in the public sector in all public institutions of Serbia, which will contribute to a more efficient reform of the public administration and public finances, in line with the national Strategy for internal financial control for the period from 2017 till 2020, the demands of the EU (Chapter 23) and international standards (INTOSAI, COSO 2013, MOPP Institute of Internal Auditors).

The PFIC project will encompass a wide range of users, among which are ministries, state institutions, local self-government units and other users of public funds, says the press release by the Ministry of Finance.

Ministarstvo finansija Republike Srbije

Ambasada Francuske Ekonomsko odeljenje - Beograd

French Ministry for the Economy and Finance

Central Harmonization Unit

Expertise France

PIFC twinning project

internal financial control

financial control in the public sector

public sector control public finance

Strategy fro internal financial control

Chapter 32

INTOSAI

COSO 2013

MOPP Institute of Internal Auditors

state institutions

local self governments