Course Summary:

Magna Skills presents the Advanced Financial Management in the Public Sector course, designed to equip public sector finance professionals with advanced knowledge and skills in financial management. This course explores key areas such as budgeting, financial reporting, performance management, and fiscal accountability. It emphasizes the development of strategies for improving financial efficiency, transparency, and governance in public sector organizations.

Course Objectives:

Upon completion of the course, participants will:

1. Master advanced techniques in budgeting and financial planning within the public sector.
2. Analyze and apply principles of public financial reporting and auditing to ensure transparency and accountability.
3. Develop strategies to enhance financial performance management and operational efficiency.
4. Understand the importance of fiscal responsibility and governance in public sector finance.
5. Apply risk management techniques to safeguard public resources and improve financial outcomes.

Course Outline

Module 1: Advanced Public Sector Budgeting Techniques

• Comprehensive understanding of public sector budgeting processes.
• Medium-term expenditure frameworks (MTEF) and performance-based budgeting.
• Best practices in budget preparation, execution, and monitoring.

Module 2: Public Financial Reporting and Accountability

• Key principles of financial reporting in the public sector.
• International Public Sector Accounting Standards (IPSAS) and compliance.
• Financial disclosure, transparency, and accountability frameworks.

Module 3: Performance Management in Public Finance

• Linking financial management to performance outcomes.
• Tools and techniques for monitoring and evaluating public sector financial performance.
• Using performance data to inform decision-making.

Module 4: Fiscal Policy and Public Sector Governance

• Fiscal responsibility and the role of governance in public finance.
• The impact of fiscal policies on economic development and public services.
• Developing frameworks for sound public financial governance.

Module 5: Financial Risk Management in the Public Sector

• Identifying and assessing financial risks in public sector operations.
• Developing risk mitigation strategies and controls.
• Contingency planning for financial crises and resource constraints.

Module 6: Auditing and Internal Controls

• The role of auditing in safeguarding public resources.
• Strengthening internal controls to prevent fraud and corruption.
• Enhancing audit compliance and financial oversight.

Module 7: Cost Management and Resource Allocation

• Techniques for optimizing resource allocation in the public sector.
• Cost-benefit analysis in public investment projects.
• Streamlining costs and improving financial sustainability.

Module 8: Public Debt Management

• Understanding the dynamics of public debt in financial management.
• Strategies for effective public debt management and reduction.
• Impact of debt on long-term public sector financial planning.

Module 9: Public Procurement and Financial Management

• Financial aspects of public procurement systems.
• Managing procurement budgets and preventing cost overruns.
• Ensuring transparency and accountability in public procurement processes.

Module 10: Case Studies in Public Sector Financial Management

• Analysis of real-world case studies in public sector financial management.
• Lessons learned from successful financial reforms and challenges.
• Practical applications of advanced financial management techniques.

4. Who Can Attend:

• Public sector finance officers and managers.
• Government officials involved in budgeting, auditing, and financial reporting.
• Policy makers and advisors on public financial management.
• Professionals looking to advance their knowledge in public sector financial management.