ADVANCED LEVEL – ADVANCED PUBLIC FINANCIAL MANAGEMENT PDF NOTES

ADVANCED LEVEL –CPA

(SPECIALISATION)

 

ADVANCED PUBLIC FINANCIAL MANAGEMENT

SYLLABUS

 

General Objectives

To Equip the student with deeper understanding and knowledge in public financial management, and to enhance self-confidence and the ability of the student to evaluate practical experience in handling public resources.

LEARNING OUTCOMES

A candidate who passes this paper should be able to:

  • Develop awareness of the changing local and global public financial management;
  • Acquire problem-solving skills and attitude in the practice of public financial management
  • Apply acquired knowledge in public financial management in complex and dynamics environment.
  • Implement public procurement regulations in practice.

 

Introduction of Public Financial management in Kenya

  • The scope, objective, and principles of Public Financial management
  • Relevance of PFM Act in management of Public finances
  • Review PFM Act as an important tool to implement public policies in Kenya
  • Best practices for public financial management in the global
  • Challenges affecting implementation of Public Finances
  • The Public Financial Management Cycle

 

Public sector procurement

  • Introduction to procurement, store keeping, and Legal and institutional framework in public sector procurement
  • General Procurement Principles
  • The procurement cycle in public institutions
  • The Accountable documents applied in public procurement
  • Roles and relationship between stores personnel, Procurement and Supply chain officer in public entity
  • Establishment of PPRA as public procurement regulator in Kenya
  • Public Private Partnership models and their applications.

 

The role of Accounting officer in management of Public Funds

  • Establishment of Public Funds
  • Financing and operationalisation of Public Funds
  • Review of selected Public Funds including Contingency Fund, Equalisation Fund among others
  • Winding up procedures for the Public Funds in Kenya
    • Overview of Integrated Tax System, its operations and infrastructure.

 

Management of Public Debts in both National and County Governments’

    • Introduction of Public Debt, methods and debt instruments
    • Establishment, Functions and of Public Debt office
    • Debt management in the County Government
    • Global best practices in management of public debts
    • Key stakeholder and their roles in public debt management including National Treasury and Parliament
    • Power of national government to lend money & Management of Guarantees
  • Public Sector Investment and enterprise management
  • Establishment and Dissolution of State Corporations and public investments
  • Monitoring performance and statutory reporting for public investments.
  • The role of the National Treasury in management of Public Enterprises
  • Comparative analysis of State Corporation Act and Companies Act in Kenya
  • Challenges affecting State Corporation in Kenya.

 

Public Financial Management Reforms in Kenya

  • Establishment, Management and roles of Public Financial management reform in Kenya
  • Public Financial management reforms in Kenya and East Africa
  • Overview of development partners and donor funds management
  • Resource mobilisation strategies by the PFMR

 

Internal Auditing in Public sector

  • Establishment and scope of internal audit function
  • Objectives and functions of the internal audit function
  • The internal control system and its procedures
  • Internal audit function reporting structure
  • Internal audit standards and guidelines
  • Qualification for and professional bodies guiding internal auditors
  • The establishment, appointment and functions of audit committee
  • The role of Audit Committees in management of public funds
  • Merits and demerits of establishing audit committees in Kenya.

 

The Office of Auditor General

  • The establishment of the Office of Auditor General and overview of the Public Audit Act, 2015
  • The Appointment, roles and function of the office of Auditor General
  • Responsibilities of the Auditor General & Relationship between the internal audit function and office of Auditor General
  • Relationship between the Office of Auditor General and Internal Auditing
  • Challenges facing auditing public sector institutions.
  • The role of parliament as oversight body and parliamentary oversight committees in both National Assembly and the Senate.
  • Challenges affecting the Parliament as oversight body

 

Appointment of Receivers of Revenue

  • Definition and appointment of Receivers of Revenue
  • The Role of Accounting officers in management of Receivers of Revenues
  • Procedure for Revenue classification and estimating revenues
  • Accounting procedure for the Receivers of Revenue

 

 

Management of Consolidated Fund Services & Exchequer Accounts

  • Scope and objectives of Consolidated Fund Services
  • Expenditures covered by the Consolidated Fund Services
  • The Exchequer Account and procedures for exchequer requisitioning
  • The role of Accounting officers in exchequer requisition.
  • Principles and Operations of Treasury Single Account (TSA)

 

Management of Revenues in County Governments

  • Classification of revenues in the County Governments
  • The role of Committee Executive Member of finance in County revenue management
  • The Role of the Commission on revenue collection in management of County government revenues.
  • Operations of County Revenue Fund (CRF)
  • Overview of computerized revenue collection services by County Governments.
  • Challenges affecting revenue collection by the County Governments.

 

Public sector Budgeting and Planning

    • Provisions of the National Budget in line with PFM Act 2012
    • Principles of a Soundness of the Budget and the Public sector Budget cycle
    • Types of Budgets and rational for their applications and the Stages of the Public Budget for both National and County Governments.
    • Stakeholders in public budget making process.
    • Strengths, Challenges and Weaknesses in public budget preparation systems

Reference Materials

  1. The Public Finance Management Act, 2012
  2. Income Tax Act Revised Edition 2018
  3. Tax Procedures Act of 2015,Revised Edition 2018
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