The European Union launched the Twinning project on strengthening the internal control and audit environment in the public sector

Wed, 29/11/2017 - 16:02 |

The European Union offers our country 1.2 million euros to improve the internal control and audit environment in the public sector in the Republic of Moldova. Assistance is provided within the Twinning project launched today „Support to development of an effective internal control and audit environment in public sector in Moldova”.

The twining project aims to support the Ministry of Finance in the process of strengthening financial management and control system. It is expected that through training to to strengthen the capabilities of auditors from central and local public authorities in line with EU best practice. Finally, an essential improvement in public finance management is expected.

“It is an important project for us, as promoters of efficient use of public money. We also aim to mobilize managers from public institutions to achieve the best results and to make them accountable according to good governance principles", said Minister of Finance, Octavian Armasu at the conference.

"It is not a surprise that we are collaborating in the field of financial control of internal audit, this is also indicated in the Association Agreement. The project gives us the opportunity to achieve this political commitment. We will continue to work at the highest level in terms of budget control, as the final owner of the budget is the ordinary citizen", said Deputy Head of Operation Unit, EU Delegation, Marco Gemmer. The Twinning Project is based on four components: strengthening of the overall Financial Management and Control

System and enhancement of the capacity of the central government and the individual budget organisations to address the recommendations of internal and external audit; strengthening of the system and capacities for internal audit of state and local public authorities; reform of the Financial Inspection; establishing a solid mechanism for training of specialists in the public finance area.

Within the project, European experts will contribute to strengthening the legal, institutional and professional frameworks related to financial management and managerial control as well as internal audit. Also, in order to promote an advanced degree of managerial accountability in the use of public funds, training, workshops, meetings in the field of public finance management including internal audit and financial management and control will be organized, as well as study visits for representatives of central and local authorities in the country.

The implementation period of the Twinning project „Support to development of an effective internal control and audit environment in the public sector in Moldova” is 2 years, until September 2019. The project partners are: German Federal Office of Administration, Ministry of Public Finance from Romania, the main beneficiary of the project Minister of Finance of the Republic of Moldova.

EU-Moldova Association Agreement states that the development of an efficient internal control and internal audit environment in the public sector is an important area of cooperation between the parties.