From 10-15 June 2024, taking advantage of a PEFA Steering Committee meeting held in Oslo, Norway, a significant collaboration unfolded during the week between the PEFA Secretariat and the INTOSAI Development Initiative (IDI), complementing the two-day PEFA Steering Committee meeting proceedings. This collaboration marked a milestone as an example of two custodian institutions (PEFA and SAI PMF) in the efforts to enhance public financial management globally.
The collaboration was characterised by a series of technical meetings, presentations, and a rich technical dialogue that underscored the shared commitment of both institutions to improve governance and accountability.
The technical meetings served as a cornerstone of this collaboration, providing a platform for both entities to discuss the intricacies of public financial management. These sessions were about sharing knowledge and learning from each other's experiences and expertise. IDI and PEFA Secretariat discussed and shared experiences on common issues and problems. The IDI presented during a session of the PFEA Steering Committee meeting where the influence of PEFA in the methodological approach of the SAI PMF was expressed, and the PEFA Secretariat visited the IDI headquarters for holding technical meetings and delivered a presentation on the PEFA Gender and PEFA Climate that was the subject of great interest and stimulating discussion.
As the week of collaboration ended, reflections on the interactions and the potential long-term impacts of the collaboration became apparent. It clearly emerged that the joint efforts of the PEFA Secretariat and IDI could significantly enhance the effectiveness of public sector auditing and financial management practices worldwide and enhance the analytical value for accountability institutions. This collaboration shows the potential of collaboration in achieving common goals and the continuous pursuit of excellence in public financial management globally.
About PEFA:
The Public Expenditure and Financial Accountability (PEFA) program is a collaborative initiative that provides a framework for assessing the condition of a country's public expenditure, procurement, and financial accountability systems. Established in 2001 by multiple development partners, PEFA aims to enhance the management of public finances and ensure that government spending is efficient, effective, and aligned with desired social and economic outcomes. The program uses a set of high-level indicators to identify strengths and weaknesses in public financial management (PFM), guiding reforms and monitoring their progress over time. PEFA's assessments are critical tools for governments, international development agencies, and financial institutions to inform policy decisions, foster transparency, and support Sustainable Development Goals.
To know more about PEFA, visit https://www.pefa.org .