Governance in Financial Management in the Public Sector Training Course

Governance in Financial Management in the Public Sector Training Course

Introduction

Governance in Financial Management in the Public Sector Training Course course is meticulously designed to equip professionals in the public sector with the essential knowledge and skills to navigate the complexities of governance frameworks and financial accountability. In an era of increasing scrutiny and the demand for transparent and efficient use of public resources, understanding and implementing robust public sector financial management practices is paramount. This program delves into the core principles of good governance, exploring its application within the unique context of public institutions. Participants will gain practical insights into establishing effective internal controls, ensuring regulatory compliance, and fostering a culture of ethical financial management to enhance organizational performance and public trust.

By focusing on the latest trends and best practices in public finance governance, this course offers a strategic advantage for individuals and organizations seeking to strengthen their financial management capabilities. Through a blend of theoretical understanding and practical application, participants will learn to implement sound financial governance structures, manage public sector budgets effectively, and mitigate financial risks. This training will empower professionals to contribute significantly to the financial integrity and overall success of their public sector entities, ultimately leading to improved service delivery and greater accountability to citizens.

Course Duration

10 days

Course Objectives:

1. Understand the fundamental principles of good governance and its application in the public sector.

2. Analyze the key legal and regulatory frameworks governing public financial management.

3. Develop strategies for establishing and maintaining effective internal control systems within public sector organizations.

4. Learn to implement robust risk management frameworks to mitigate financial vulnerabilities.

5. Master the processes involved in public sector budgeting, planning, and expenditure control.

6. Gain practical skills in financial reporting and ensuring transparency and accountability.

7. Understand the principles of public procurement and contract management.

8. Explore the role of ethics and integrity in public financial management and governance.

9. Learn to conduct effective financial audits and ensure compliance with audit recommendations.

10. Develop strategies for enhancing financial accountability and preventing fraud and corruption.

11. Understand the application of technology in improving public financial management and governance.

12. Analyze emerging trends and challenges in global public financial management.

13. Develop leadership skills to promote a culture of strong financial governance within public sector entities.

Organizational Benefits:

• Enhanced financial transparency and accountability.

• Improved efficiency and effectiveness in resource allocation and utilization.

• Strengthened internal controls and reduced financial risks.

• Increased compliance with relevant laws and regulations.

• Enhanced public trust and confidence in the organization.

• Improved decision-making based on accurate and reliable financial information.

• Development of a skilled and knowledgeable workforce in financial management and governance.

• Better management of public funds and reduced instances of fraud and corruption.

Target Participants

1. Finance Directors and Managers in Public Sector Entities

2. Budget Officers and Analysts

3. Internal Auditors and Compliance Officers

4. Procurement and Contract Management Professionals

5. Senior Management and Policy Makers in Government Agencies

6. Accountants and Financial Reporting Specialists

7. Public Sector Consultants and Advisors

8. Individuals seeking to advance their careers in public financial management

Course Outline 

Module 1: Foundations of Governance in the Public Sector

• Defining Governance and its Importance in the Public Sector

• Key Principles of Good Governance: Transparency, Accountability, Participation

• Legal and Regulatory Frameworks Governing Public Sector Governance

• The Role of Different Stakeholders in Public Sector Governance

• Ethical Considerations in Public Sector Governance

Module 2: Legal and Regulatory Frameworks for Public Financial Management

• Overview of Relevant Legislation and Regulations

• Understanding Financial Regulations at National and Sub-National Levels

• Compliance Requirements and Reporting Obligations

• Impact of Legal Frameworks on Financial Decision-Making

• International Standards and Best Practices in Public Financial Law

Module 3: Establishing Effective Internal Control Systems

• The Concept and Importance of Internal Controls

• Components of an Effective Internal Control Framework

• Developing and Implementing Internal Control Policies and Procedures

• Monitoring and Evaluating the Effectiveness of Internal Controls

• Addressing Weaknesses and Improving Internal Control Systems

Module 4: Public Sector Risk Management

• Identifying and Assessing Financial Risks in the Public Sector

• Developing and Implementing Risk Management Strategies

• Tools and Techniques for Risk Mitigation and Transfer

• Integrating Risk Management into Financial Planning and Decision-Making

• Monitoring and Reporting on Financial Risks

Module 5: Public Sector Budgeting and Planning

• The Budget Cycle: Formulation, Approval, Execution, and Audit

• Different Types of Budgets and Budgeting Techniques

• Performance-Based Budgeting and its Application

• Medium-Term Expenditure Frameworks (MTEFs)

• Budget Monitoring and Variance Analysis

Module 6: Public Expenditure Management and Control

• Principles of Effective Expenditure Management

• Expenditure Control Mechanisms and Procedures

• Managing Procurement and Payment Processes

• Addressing Unauthorized and Irregular Expenditure

• Ensuring Value for Money in Public Spending

Module 7: Public Sector Accounting and Financial Reporting

• Overview of Public Sector Accounting Standards (e.g., IPSAS)

• Preparing and Presenting Financial Statements

• Understanding Key Financial Reporting Requirements

• Analyzing Public Sector Financial Reports

• Ensuring Transparency and Accuracy in Financial Reporting

Module 8: Public Procurement and Contract Management

• Principles of Fair, Transparent, and Competitive Procurement

• Different Procurement Methods and Procedures

• Developing and Managing Procurement Contracts

• Addressing Procurement Fraud and Corruption

• Best Practices in Public Procurement Management

Module 9: Ethics and Integrity in Public Financial Management

• Importance of Ethical Conduct in Public Service

• Identifying and Addressing Conflicts of Interest

• Preventing and Detecting Fraud and Corruption

• Whistleblowing Mechanisms and Protection

• Promoting a Culture of Integrity and Accountability

Module 10: Public Sector Auditing and Oversight

• The Role of Internal and External Audit Functions

• Types of Audits and Audit Methodologies

• Following Up on Audit Findings and Recommendations

• The Role of Oversight Bodies in Ensuring Financial Accountability

• Strengthening Audit Capacity and Independence

Module 11: Enhancing Financial Accountability and Preventing Corruption

• Mechanisms for Promoting Financial Accountability

• Strategies for Preventing and Combating Corruption in Public Finance

• The Role of Technology in Enhancing Transparency and Accountability

• Citizen Engagement and Participation in Financial Oversight

• International Cooperation in Anti-Corruption Efforts

Module 12: The Role of Technology in Public Financial Management

• Utilizing Enterprise Resource Planning (ERP) Systems

• Implementing Digital Payment and Collection Systems

• Leveraging Data Analytics for Financial Management

• Enhancing Transparency through Online Platforms

• Addressing Cybersecurity Risks in Public Financial Systems

Module 13: Emerging Trends and Challenges in Global Public Financial Management

• Impact of Globalization on Public Finance

• Addressing Climate Change and Sustainable Development Goals

• Managing Public Debt and Fiscal Sustainability

• Responding to Economic Crises and Shocks

• The Future of Public Financial Management

Module 14: Leadership and Governance in Public Sector Finance

• Developing Effective Leadership Skills for Financial Managers

• Promoting a Culture of Strong Financial Governance within Organizations

• Building Collaborative Relationships with Stakeholders

• Driving Continuous Improvement in Financial Management Practices

• Leading Change and Innovation in Public Finance

Module 15: Case Studies and Practical Applications

• Analyzing Real-World Case Studies in Public Financial Management and Governance

• Applying Course Concepts to Practical Scenarios

• Group Discussions and Problem-Solving Exercises

• Developing Action Plans for Implementing Best Practices

• Sharing Experiences and Lessons Learned

Training Methodology

This course employs a participatory and hands-on approach to ensure practical learning, including:

• Interactive lectures and presentations.

• Group discussions and brainstorming sessions.

• Hands-on exercises using real-world datasets.

• Role-playing and scenario-based simulations.

• Analysis of case studies to bridge theory and practice.

• Peer-to-peer learning and networking.

• Expert-led Q&A sessions.

• Continuous feedback and personalized guidance.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you