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11-12 June 201 8 , Tsaghkadzor, Armenia

Developments And Achievements In Implementing Public Internal Financial Control (PIFC) Reform In Armenia. EDGAR MKRTCHYAN , PhD Chairman of Executive Committee IACOP Head of FMC Methodology Division-Deputy Head of PFM Methodology Department of the Ministry of Finance of RA.

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11-12 June 201 8 , Tsaghkadzor, Armenia

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  1. Developments And Achievements In Implementing Public Internal Financial Control (PIFC) Reform In Armenia EDGAR MKRTCHYAN, PhD Chairman of Executive Committee IACOP Head of FMC Methodology Division-Deputy Head of PFM Methodology Department of the Ministry of Finance of RA 11-12 June 2018, Tsaghkadzor, Armenia

  2. Public Internal Financial Control (PIFC) Reforms

  3. Public Internal Financial Control Strategyfocuses on three activities

  4. CHU Directorate Structure Public Financial Management Methodology Department (CHU Directorate) Internal Audit Regulation and Coordination Division Procurement Process Regulation Division CHU in the MoF for FMC and IA

  5. Budget Cycle Transparency of Public Finances Management of Assets and Liabilities Budget reliability Revised Strategy of PFM SystemReform Public Internal Financial control (PIFC)

  6. Revised Strategy for PFM SystemReformAction Plan for 2016-2020 Introduction of FMC system 2016-2018 • Elaborating methodology for introduction of the FMC system • Piloting of drafted FMC methodology in at least two public entities 2018-2019 • Revision and specification FMC concept note and FMC law drafts according to the results of drafted and piloted methodology • The drafts of FMC concept note and FMC law accepted by Government of RA 2019 • Adoption of the Law on FMC by the National Assembly of RA 2019-2020 • Adoption of the action plan for FMC law enforcement • Practical introduction of FMC in public sector organizations of RA

  7. Revised Strategy for PFM SystemReformAction Plan for 2016-2020 Internal Audit Professional skills of internal auditors 2016 • Internal auditors capacity assessment and development of capacity development programme • Revision of internal auditors training programmes in line with international best practice 2017-2020 • Capacity development of internal auditors Internal audit methodology revision 2016 • Clarification of audit performance 2017 • Emphasis on the management feedback on auditing disclosures and review process 2018 • Emphasis on practical issues of internal auditing • Evaluation of salary calculation and payroll audit   2018-2020 • Provision of internal and external audit cooperation

  8. 2016 Results Drafted FMC documents:

  9. Current activities Till the end of 2018 2017-2018 Results

  10. Programme Budgeting (PB) Legal Grounds for the Fully-fledged Introduction of PB PB Methodology Institutional Issues - Enhancement of Internal Control Systems Human Capacity Development Automatization of PB Related Functions

  11. PIFC vs Program Budgeting

  12. Thank you for attention! edgar.mkrtchyan@minfin.am

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