Public Financial Management
The importance of strong Public Finance Management (PFM) systems as a key element of the institutional and governance framework needed for successful economic and social development is now widely understood and accepted. PFM reform is a central theme of the technical services offered by AARC.
Our PFM team presents a balanced mix of experienced professionals with demonstrated track records in PFM reform programs globally including in Europe, the Middle East, Central Asia and Latin America. Our approach within the European Union and accession and pre accession states is underpinned by chapters 32 and 33 of the acquis communautaire.
Accounting & Audit Reform
Our accounting and audit reform team has worked closely with the World Bank Financial Management Unit in Washington in the roll out of the accounting and audit pillar of the overall ROSC program (Report on the Observance of Standards & Codes).
In addition, our consultants have experience in the development of Country Action Plan’s for Enhancing Corporate Financial Reporting. Our technical expertise is underpinned by our knowledge of International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), Chapter 6 and 9 of the Acquis Communautaire related to financial reporting, the pronouncements of the Basel Committee, and the pronouncements of the International Organization of Securities Commissions. Our team has delivered support in Europe, Central Asia, Africa, Latin America and the Middle East.
Our taxation reform team has significant experience in institutional capacity building within Taxation Authorities underpinning revenue collection.
Our team has demonstrated direct and indirect taxation experience and has specialist skills in the alignment of tax administrations with the requirements of chapter 16 of the Acquis Communautaire.
Our consultancy team has a demonstrated record in the provision of technical support to enhance the institutionalised framework for supreme audit institutions, to promote development and transfer of knowledge, improve government auditing skills and to enhance professional capacities, standing and influence of public sector auditors in their respective countries.
Our Supreme Audit Team has significant and direct knowledge of the INTOSAI standards & codes.
- The AARC consulting team provides a comprehensive internal audit services including:
- Review of and set up of the internal audit function
- Production of risk based strategic and operational audit plans
- Provision of professional and quality assured regularity and VFM audits
- Reporting to management and presentation of reports to Audit Committees
- Follow up audits
- Performance validations
- Audit training
- Forensic investigations.
We have significant experience in introducing complex Macroeconomic modelling, creating linkage to National Poverty Reduction Strategies, creating wider economic based Public Expenditure Management initiatives and assisting with Medium Term Expenditure Frameworks.