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Public Financial Management Practices

(10 Days)

LOCATIONS DAYS DATES FEE REGISTER
Dubai, UAE 10 March 15 - 26, 2020 £4725.00 Register
Dubai, UAE 10 September 06 - 17, 2020 £4725.00 Register

Fee excluding accommodation and meals

SUITABLE FOR:

Directors, Director-Generals, Senior Manager, Auditors, Audit Committee members, Financial Controllers, Auditor Generals and Accountants.

OBJECTIVES:

By the end of the course, delegates will:
  • Have developed strategies to secure sound financial management and control in their organisation
  • Have acquired modern accounting techniques in their organisation
  • Have developed an efficient Audit System
  • Have improved decision – making process with regard to financial issues in line with the Stakeholders interest.
  • Be a able to read a budget and set of national accounts in different jurisdictions
  • Appreciate how public financial management interfaces with politics and political choices
  • Be able to use financial management to enhance the performance of public organisations

SUMMARY:

The topics covered include: WEEK ONE Corporate Governance
  • What is corporate governance?
  • Objectives and strategy of governance
  • The institutional and legislative backgrounds
  • Role of Board / Directors (directors’ duties / legal issues)
  • Board composition and structure
  • Case studies
  • Risk management in the boardroom
  • The relationship between the board and management
  • Shareholder rights and responsibilities
  • Corporate governance and value creation
Strategic Leadership
  • Leading in a changing business world.
  • Fundamental concepts in executive leadership.
  • Sources of executive power and influence.
  • Leadership requirement.
Risk Management
  • The need for risk management
  • The evolution of banking risk
    • Old Basel Accord
    • New Basel Accord
  • Basel II
    • Objectives, structure and pillars
  • Challenges of the old and new Accords
  • Case studies
  • Lessons from financial disasters
  • G-30 report
  • Best practices in developing risk management, environment, appetite and policies
International Accounting Standards (IAS)
  • Current issues and latest developments in IASs and their world-wide applications and implications
  • GAAP Accounting
  • Case studies, practical examples of international companies
  • Usage of IASs/IFRS
WEEK TWO The Context of Financial Management
  • Introduction
  • What is a budget?
  • 'New Public Management' and financial management
  • Budget Classification and Structure
  • Classification of the Budget
  • Budget Composition
  • The Line Item System vs Programme Systems
Accounting and Budgeting: National Level
  • Introduction: approaches to public accounting and budgeting
  • Cash Accounting vs Accruals Accounting
  • Planning: the macroeconomic, fiscal framework and the medium-term expenditure framework
  • The role of the Ministry of Finance
  • Budget Timetable
International Public Sector Accounting Standards Board (IPSAS) and cash standards:
  • The standards setters for public sector financial reporting, nationally and internationally
  • The origins and role of the IPSASB and IFAC membership criterion 5
  • The development and promotion of a suite of accrual based standards
  • The general cash basis IPSAS and the relevance of consolidated accounts for the public sector; whole of government accounts or reporting at ministerial level
  • Accounting for international assistance and budget reporting standards
  • Application of IFRS to the public sector
  • Regularity and probity
  • Opinion on the financial statements
  • Value for money audit
Auditing Standards and Ethical Code:
  • Basic principles
  • General standards
  • Field standards
  • Reporting standards
  • Ethical Code
  • Integrity
  • Independence, Objectivity and Impartiality
  • Professional Secrecy
  • Competence
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2020 Training Catalogue

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