The final conference of a three-year EU-funded project, “Improving Public Internal Financial Control in Bosnia and Herzegovina” which was managed by ICE EEEG, took place on Wednesday, 18 May 2022 in Sarajevo. The aim of project was to contribute to the reform of public financial management in the EU accession process, by enhancing capacities for the implementation of financial management and control in the public sector at all levels of government in Bosnia and Herzegovina.
The project supported the development and adoption of four Public Internal Financial Control (PIFC) Strategies, and designed, developed, and put in operation a PIFC application, which automated all PIFC regulations, including Risk Management and Internal Audit methodologies developed or updated during project implementation.
More than 1,900 public sector organisations are registered in the PIFC application, with some 800 designated Financial Management and Control Coordinators and 420 Internal Auditors. As a general overview, 654 Financial Management and Control Self-assessment reports were generated for 2021, including 133 Risk Registers.
This is the largest PIFC digitalisation on the Western Balkans aiming at efficient and timely risk management, strengthening of internal control and internal audit, conforming to the international internal audit standards.