The Association of Chartered Certified Accountants (ACCA) on Friday announced that it’s been awarded a high-level project to develop a Professional Accreditation Programme in Public Financial Management (PFM) for Pakistan, working with the World Bank and the Auditor General’s office.
To formalize and prepare for the project, the ACCA signed MoUs with the partner authorities – including the provincial governments of Khyber Pakhtunkhwa, Balochistan, Federally Administered Tribal Areas (FATA) and the Auditor General’s office. This capacity building project is funded by the Multi Donor Trust Fund (MDTF) managed by the World Bank.
The ACCA was selected for this project due to its expertise in capacity building work, with a proven track record of strengthening the accountancy profession globally. This extensive experience includes collaborating with Professional Accountancy Organizations (PAOs) and development agencies, employers, governments, regulators and other global partners to help build a stronger accountancy profession – with a focus on developing tailored local solutions that meet global standards and benchmarks.
Stephen Heathcote, executive director – markets at ACCA says: ‘Given the pace of change and size of expenditure in the public sector in Pakistan, it’s critical that professionals working in the sector are equipped with the right skills to deal with the challenges ahead. And our qualifications are designed to do just that – to build the accountancy skills and knowledge of those working in the public sector, so that there’s effective management and stewardship of public funds. ACCA’s twenty-year history, local infrastructure and on-going commitment to students, members, government and community in Pakistan makes us uniquely positioned to support this important national initiative.’
Arif Mirza, head of policy MESA, adds: ‘In Pakistan, recent changes mean that federal and provincial governments have responsibility for significantly increased resources.
Because of this, a step change is needed in the skills in the public sector for public financial management. Effective budgeting and improving transparency is a must, especially as the government’s Vision 2025 aims to improve economic and social indicators of the country by significantly increasing government’s development budget over the next decade.—INP