PUBLIC INTERNAL FINANCIAL CONTROL IN THE EUROPEAN UNION AND ARMENIA

armradio.am
09.06.2009 10:40

Today Mr. Davtyan, Minister of Finance of Armenia, and Mr. de
Luzenberger, Ambassador, Head of the EC Delegation to Armenia, hosteed
the seminar "Public Internal Financial Control (PIFC) in the European
Union and Armenia".

This seminar was attended by central government top managers, and
focuses on PIFC as a new state of the art internal control approach
for Armenia.

During the seminar-consultation the European Commission officials and
invited experts presented EU MS expertise in state internal financial
control and suggestions were made for further improvement of state
internal financial control system.

PIFC is an integrated and operational model developed by the European
Commission for re-engineering internal control systems in the public
sector in line with international standards. Many European countries
use PIFC as a benchmark for modernising their public sector control
environment.

Commenting on the event, Mr Robert Gielisse, Head of PIFC Department
in the European Commission in Brussels, stated, "This is an important
awareness-raising event. We support and encourage the planned reforms
in Armenia. Sound financial management should be at the heart of all
that deal with taxpayers’ money."