EU4PFM Study Visit to Sweden: Day 3 Focus on Consolidation and Peer Learning
The final day of the EU4PFM study visit started at the Swedish National Financial Management Authority (ESV). Lena Malmqvist, Head of Unit, presented how Sweden manages central government financial reporting and consolidation. She told the Ukrainian delegation about the national accounting model, including the chart of accounts and the way government agencies submit financial data to ESV. The group explored how this information is consolidated into the annual central government report, supported by examples of actual reporting outputs. ESV also outlined the IT environment behind the process, including the current FMIS setup and plans for upgrading it.
The programme continued with a video presentation from Iceland. Ingþór Karl Eiríksson, Director of Finance and CEO of the Financial Management Authority, described Iceland’s path towards IPSAS and the practical steps taken during implementation. He spoke about the obstacles, the drivers of progress and the value of long-standing cooperation among Nordic financial management authorities.
The next session, attended on-site and online by around 50 ESV staff members, featured a presentation by the Ukrainian delegation on accounting and financial reporting under martial law. Ukrainian representatives outlined the legal framework for wartime accounting, the size and structure of Ukraine’s budget system and the constraints public institutions face during the war. They highlighted the importance for transparent and reliable accounting to support decision-making and prevent fiscal risks.
Special focus was placed on the accounting of damaged, destroyed and lost property, a critical issue for planning Ukraine’s recovery efforts and substantiating future compensation claims. The delegation also explained the simplified reporting regime introduced during martial law, the flexibility in submission deadlines and the challenges of consolidating financial statements when access to territory or primary documentation is restricted.
The day concluded with warm words of gratitude from the Ukrainian delegation to the Swedish colleagues for the openness, professionalism and depth of sharing over the past three days. EU4PFM International Expert on PIFC Manfred van Kesteren thanked ESV on behalf of the EU4PFM Programme for the flawless organisation of the entire visit.
The visit proved exceptionally valuable: it strengthened professional networks, created new linkages for future cooperation and offered the Ukrainian Ministry of Finance direct exposure to Swedish, Nordic and European approaches to public sector accounting and financial management. The three-day programme was widely regarded as a major success, rich in content, dialogue and practical peer-to-peer learning.
