Today the 4th OISC|CPLP Seminar began under the motto “The SAI, improving Public Finance Management and Agenda 2030: PFM-RF, its benefits and challenges.” The event is supported by the Pro PALOP-TL SAI (Phase II), a project funded by the European Union and implemented directly by the UNDP, and will run until 7 June.
On 3 and 4 June, a Working Group of the Courts of Auditors of Cape Verde, Angola, Guinea-Bissau and São Tomé and Príncipe brings together more than 35 auditors in Praia, Cape Verde (in the United Nations Meeting Room). The works aim to enable the courts of auditors to finalise the implementation of the new “Reporting Framework for Public Finance Management – (GFP-RP)” tool, which allows Supreme Audit Institutions to report on the global risks of public finance management, and to make recommendations to mitigate the identified risks inherent in the budget cycle.
This advanced group meets as part of the 6th Seminar of the Organisation of Supreme Audit Institutions – OISC|CPLP that will be held on 6 and 7 June, in Cidade da Praia (Hotel Tropico), where more than 100 representatives and senior dignitaries of the Supreme Audit Institutions of the CPLP participate to reflect on the summits and staff of these institutions and of the OISC|CPLP on the main advantages in the use of the “Reporting Framework for Public Finance Management – (GFP-RP)” used for an assessment of public finances by the courts of accounts with a focus on the SDG.
The GFP-RF aims to strengthen the role of SAI in the assessment of public finances, thus enabling the performance of public financial management processes to be assessed throughout the budget cycle. The use of the tool allows the courts of auditors to cover in their external audit and control the main policy-making institutions for public finance management, such as the Ministry of Finance, the Parliament and the Tax Authority, as well as other Ministries and departments which are by their nature considered important for the achievement of the SDG.
Phase II of the Pro PALOP-TL SAI, the “Programme to Consolidate Economic Governance and Public Finance Management Systems in PALOP-TL – Pro PALOP-TL SAI (Phase II)”, is funded by the European Union with a contribution of EUR 7,750,000 (equivalent to USD 8,813,300) for a total budget of EUR 7,843,700 (USD 8,919,856) for a period of 3 years.
The project is co-funded and administered by the UNDP and should capitalise on the successes of the predecessor project, expanding the intervention logic with the aim of promoting a south-south and triangular cooperation facility for the consolidation of public finance management systems in the PALOP and East Timor.
The project will continue to promote the strengthening of budgetary transparency, external control of public accounts, legislative oversight and social monitoring of public expenditure in PALOP and East Timor.