First steps in implementing the concept of public internal financial control
CHIŞINĂU, December 18th, 2012 — A training-methodical semninar on the concept of public internal financial control and risk management implementation has been conducted within the Ministry of Defence. The seminar was attended by heads of departments and sections of the Ministry of Defence and the Main Staff of the National Army.
The representatives of the public internal financial control, Petru Babuci and Traian Harbuz referred to various aspects of financial management concept, its components and the regulatory framework in the field.
They pointed out the need for each manager to submit a report on the expenditure incurred in relation to indices of activity. Based on the reports of each structure, there will be a statement of good governance which will then be posted on the website of each ministry.
One aspect not less important within the new methodology would be assessing risks in relation to the tasks set. Thus, in the future each important project to be submitted for approval should include a risk register so that the responsible person can make a correct decision regarding the project.
According to Colonel (r) Vitaly Bucătari, Head of the economic and financial directorate, the main objective of this seminar was to promote a higher degree of managerial accountability in use of public funds, controlling public sector funds within the entity, increasing managerial responsibility and internal audit.
The Head of Economic and Financial Directorate wanted to specify that the budget is limited and every manager must know how to plan rationally to meet the basic objectives that are incumbent upon subordinate structure. “This is a first step in implementing financial control within the MoD,” concluded Colonel Vitaly Bucătari.