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Enhancing Public Internal Financial Control in Ukraine: A 2006 Governance Assessment

This 2006 assessment analyzes Ukraine's public internal financial control (PIFC) framework based on the EU model. It notes the absence of a legal framework for PIFC and highlights the existing sound financial management controls that are partially established. The report emphasizes the need for early-stage decentralized internal audits and outlines the Cabinet of Ministers' PIFC strategy and action plan. Recommendations include redefining strategy papers, determining capacity for financial management, and establishing robust accounting systems to support effective governance and accountability.

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Enhancing Public Internal Financial Control in Ukraine: A 2006 Governance Assessment

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  1. UKRAINE GOVERNANCE ASSESSMENT 2006

  2. Sigma Ukraine governance assessment Public Internal Financial Control Joop.Vrolijk @oecd.org

  3. Assessment according to EU PIFC approach • Conclusions • No PIFC legal framework for PIFC • Sound FMC systems based on the principle of managerial accountability with ex-ante, ongoing and ex-post controls are partly in place. • Decentralised Internal Audit is in its early days • The co-ordination of control in hands of the STU and the KRU. Thus • PIFC according to the EU model does not exist yet • Development: Cabinet of Ministers of Ukraine has adopted PIFC strategy and action plan, including the three pillars of the EU PIFC system • Recommendations • Reconsider redefining the strategy paper • The MoF to determine up to a required level the capacity for developing and implementing the FMC and IA • The KRU to define a change management strategy • The MoF and the KRU to seek peer assistance for supporting the implementation of the PIFC strategy and the change process within the KRU. • Establish a sound accounting system ; • Document the main procedures (audit trail); • The MoF to seek co-operation with the international internal audit organisation in setting up the training programme for public sector internal auditors in Ukraine.

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