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Consolidating the internal managerial control system is a priority that can be implemented with the input of the public sector internal audit.
Discussions on this subject took place during a meeting of the representatives of the Court of Accounts of the Republic of Moldova (CoARM) with the representatives of the Ministry of Finance, held on December 13.
Petru Rotaru, Member of the CoARM mentioned that the internal auditor must be seen as a reliable partner in achieving institutional objectives. The internal auditor's mission is to provide objective assurance and advice designed to help the entity achieve its objectives, using a disciplined and systemic approach to evaluating and improving governance, control and risk management processes.
Vladimir Arachelov, State Secretary of the Ministry of Finance reiterated the importance and role of internal auditors in public institutions, emphasizing the need for institutional cooperation, which will contribute to the identification of relevant horizontal issues.
The professional certification in the field of internal audit in the public sector was approached by the participants on the dimension of collaboration and improvement of existing practices and mutual recognition of the professional certification of both the internal auditor and the external public auditor. The certificate of professional qualification in the field of internal audit in the public sector is issued by the Ministry of Finance, and the certificate of professional qualification in the field of external public audit is provided by the Court of Accounts.
The dignitaries also mentioned the advantages of effective collaboration and ensuring an up-to-date methodology based on international standards, the challenges faced by internal auditors and the need to encourage financial motivation, the good practices and experience of some European states on this subject, as well as other important aspects to ensure the efficiency of financial control.
We mention that according to the Moldova - EU Association Agreement, the Republic of Moldova has undertaken to implement the internal public financial control system (IPFC) at the national level, starting a broad reform in the field of internal control and audit in the public sector. The IPFC concept was developed by the European Commission in order to provide a structured and operational model, to assist national authorities in remodeling their own internal control environment and, in particular, to update control systems in the public sector, according to the international standards and EU’s best practices.
