EU4PFM Study Visit to Prague highlights knowledge sharing and fosters collaboration on PIFC

The EU4PFM Study Visit to Prague concluded with a focus on strengthening Public Internal Financial Control (PIFC) practices in Ukraine.

Over three days, the representatives of the Central Harmonisation Unit of the Ministry of Finance of Ukraine and Czech officials, alongside EU4PFM experts, engaged in productive discussions and knowledge exchange on reform efforts in financial management, control, and internal audit.

The second day of the visit delved into practical PIFC applications. This included a presentation of representatives from the Pardubice region about financial management and control arrangements at the regional level. Another session explored reporting mechanisms for internal control and audit to the Ministry of Finance, a core function of the Central Harmonization Unit (CHU) in the Czech Republic, facilitated by an IT portal.

One more presentation was performed by the head of the internal audit of the Ministry of Defence. The presentation went over the structure of financial management and control, as well as the risk management arrangements within the Ministry. The risk management process within the Ministry of Defence is supported by an IT solution which is used both by management and the internal audit function. Given that the Ukrainian CHU is also working on IT solutions in this area, a lot of questions and clarifications were exchanged which made it a fruitful session.

The final day centred on aligning EU4PFM support with evolving Partner needs for 2024. Discussions covered PIFC Portal development, Conference for management on PIFC, Work Plan activities, and support in the practical implementation of risk management.

The Study Visit not only facilitated the exchange of EU practices and experiences, but also served as a good chance to synchronise EU4PFM assistance with the current Partner priorities. The visit concluded with gratitude expressed by the Ukrainian CHU to their Czech counterparts for the comprehensive overview of the Czech PIFC system.

The event has set a strong foundation for continued cooperation and progress in the realm of Public Internal Financial Control.