MACs Engaged in a Two-day Validation of the PFM Regulations

Monrovia, Liberia - The Reform Coordination unit in collaboration with the Comptroller and Accountant General Department organized a two-day Working Session to Revise and Validate the Public Financial Management Regulations of 2009 .The event took place from 9 - 10th of February, 2022 at the Paynesville City Hall.

The validation exercise brought together more than one hundred stakeholders from Ministries and Agencies that are involved with the Amendment and Restatement of the Public Financial Management Act of 2009 which was approved in 2019. Participating institutions included Internal Audit Agency, various units and division at the Ministry of Finance and Development Planning, the General Audit Commission, Public Procurement Concession Commission, National Road Fund, Bureau of State Enterprises amongst others. The Consultant hired by the World Bank constructively incorporated comments during the working session to get a unique consensus and where necessary deleted unsatisfying comments so as to ensure a standardized PFM Regulations based on international and domestic best practices.

In separate remarks, the Comptroller and Accountant General Hon. Janga Kowo thanked the various participants for partaking in the Validation process and urged that the amended areas of the Amendment and Restatement of the Act be incorporated in the PFM Regulation to facilitate appropriate implementation.

The Coordinator of the Reform Coordination Unit Dr. P Emmanuel Munyeneh encouraged the participants to have a third eye in Revising and Validating the PFM Regulations. He stated that the proper implementation of the Act depends solely on the Validation of the PFM Regulations, which is prudent for strengthening the PFM systems as well as poverty reduction and economic growth through rule-based governance and effective service delivery in Liberia.