Yerevan /Mediamax/. “Public Internal Financial Control” (PIFC) seminar is in process in Yerevan at the initiative of the Ministry of Finance of Armenia and the Budget Department of the European Commission.

Mediamax reports that the experts of the European Commission presented the practice of PIFC of EU member-states and suggestions on further improvement of the given system in Armenia.

Head of Department for Budget Process Methodology of the Armenian Ministry of Finance Karen Brutyan informed that implementation of PIFC is provided by the program of the Armenian government, and by the end of the current year the government will be presented a draft strategy for PIFC implementation for consideration. “As a result of joint discussions, we will try to get determined as to the primary steps in implementing the given system in Armenia”, Karen Brutyan stated.

According to him, the systems of public internal control, which function in Armenia now, are quite effective, but they need to undergo changes because of transition to state finance management tools, such as program budgeting and accumulation standards of accounting.

PIFC is an integrated operational model, elaborated by the European Commission, aiming at establishing systems of internal control in the public sector, meeting international standards.