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Technical Assistance Project Proposal for Enhancing Public Financial Management (PFM) Control in Bosnia and Herzegovina (BiH)

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Objectives

The proposed project aims to strengthen the capacity of the Cantonal Public Finance Inspectorates (CHUs) and Coordination Board to implement the Public Internal Financial Control (PIFC) strategy. The objectives of this project are:

  • Enhance the implementation of PIFC strategies in BiH.
  • Strengthen the capacity of CHUs and Coordination Board to perform external quality control of internal audit.
  • Develop capacities for implementing PIFC across the entire BiH structure.
  • Improve the process of reporting and preparing annual consolidated reports on internal audit.

Activities

The project will include the following activities:

  • Upgrade the legal framework and policies related to Public Financial Management (PFM).
  • Enhance the implementation and monitoring of PIFC strategies.
  • Capacity building of CHUs and Coordination Board.
  • Awareness-raising activities for stakeholders.
  • Training on Public Financial Management (PFM) and Internal Audit (IA).
  • Performance of pilot audits.
  • Designing IT solutions for updating and improving the reporting process.

Expected Outcomes

The expected outcomes of this project are:

  • The legal framework and policies are updated and harmonized with EU standards.
  • CHUs and Coordination Board are fully operational, with optimized awareness on financial management controls.
  • Capacities to implement PIFC are enhanced across BiH.
  • The process of reporting and preparing annual consolidated reports is improved.

Key Stakeholders

The following stakeholders will be involved in this project:

  • Cantonal Public Finance Inspectorates (CHUs)
  • Coordination Board
  • Ministry of Finance (MoF)
  • Cantonal governments
  • Municipal governments
  • Public enterprises
  • Extra-budgetary funds

Project Timeline and Budget

Unfortunately, the provided text does not specify a project timeline or budget. However, it is mentioned that the proposed budget for this project is 2,000,000 EUR.

Please note that this summary is based on a limited understanding of the project’s requirements and may not capture all aspects of the proposal.