The Project is supporting the Ministry of Finance to develop a strategy and policy guidelines for enhancing the public finance management control system (managerial accountability, internal audit etc.).

The Project is providing technical assistance in two areas:

1. Analysis of gaps

• Assisting the Ministry of Finance working group in assessing the existing internal controls of the State and Local Government Budget preparation and execution cycles, including commitments, payments, accounting, consolidating and reporting functions, and;
• Assisting the Ministry of Finance working group in identifying internal controls gaps in compliance with inter alia, the INTOSAI Internal Control Standards questionnaires and checklists based on risk assessment best practice.

2. Policy formulation

Assisting the Ministry of Finance working group in preparing a strategy and policy guidelines to gradually harmonise the Georgian control and audit system with internationally accepted standards (IFAC, IIA, IPSAS, INTOSAI) and methodologies as well as with EU best practices for control and audit of public revenues, expenditures, assets and liabilities

• Technical assistance to Ministry of Finance on:
• Internal controls of the State and Local Government Budget preparation and execution;
• Capacity building through seminars and workshops for stakeholders (MoF staff and members of working group)
• Stakeholder consultation and organisation of public finance working group;
• Organisation of study tours on internal audit in the government sector;
• Support to tax administration
• Coordination on public finance management