Meeting with the European Commission’s experts

On December 7, 2010, two experts of the European Commission, Mr. Erwin Resiter and Mr. Bill Fraiser had a meeting with the managers of the Court of Accounts. The delegation of the European Commission engaged in an evaluation exercise of the Public Finance Management (PFM) system of Moldova against the situation of 2009 for a better planning of budget support. This support will be granted for 2011-2013 in the energy sector and for 2012-2014 - in the justice sector. The exercise will become a practice that will enable an active involvement of the Moldavian Government together with the European Commission’s delegation in planning future budget support operations. Evaluation will be the reference point for the dialogue between the European Commission and Government in terms of public finance management system and its improvement for a more efficient management of budget support operations.

European Commission experts showed interest in the Court of Accounts’ actions taken to assess and report the implementation of the Public Internal Financial Control (PIFC) based on financial management and control, entrusted to budget managers, responsible for good governance at public institutions.                                                                              

President of the Court of Accounts, Mrs. Ala Popescu, informed European Commission experts about the full support and contribution of the Court of Accounts in promoting reforms. Over the last three years, the Court evaluates according to the COSO method of PIFC implementation within the limits of financial audits conducted at public entities. The totalizing results of the PIFC implementation, as well as timely recommendations on enhancing the implementation of financial management and control system and internal audit system, are presented in a separate section of the Court of Accounts Annual Report submitted to the Parliament of Moldova.                                                                                                                           

By means of its activity, the Court of Accounts insistently promotes PFM reforms and consolidates accountability of budget managers for good governance of public financial resources both at central and local levels of government.