PUBLIC ACCOUNTANTS

CERTIFICATION TRAINING
IN NORTH MACEDONIA
2
 ABOUT PACT
Public Accountants Certification Training (PACT) is an
internationally recognized professional qualification program
for public sector accountants, which comprises in-class
training, exams and additional capacity development activities.

It combines theory and practical experience that follow the best

international standards and practices. Topics include manageri-
al accounting, finance and contract management, International
Public Sector Accounting Standards (IPSAS), various approaches
in sound financial management, and audit and assurance. They
make a sound base for public sector accountants as they transi-
tion to accrual accounting and explore the steps to be taken as
part of introducing IPSAS.

PACT was developed by our UK partner, the Chartered Institute of

Public Finance and Accountancy (CIPFA) and adjusted by the CEF
to specific country needs.

In this publication, we take a closer look at the latest implemen-

tation of the program, delivered in the period 2020–2021. The
third generation of North Macedonian public sector accountants
participated in the Level 1 (certificate level), carried out under the
unique circumstances brought by the Covid-19 pandemics. Due to
this, the program was for the first time delivered online. In 2022
the CEF will continue with efforts in capacity development of pub-
lic sector accountants in North Macedonia by providing continua-
tion of the training on Level 2 (diploma level).

3
 PROGRAM CONTENT
CERTIFICATE MODULES DIPLOMA MODULES

MANAGEMENT ACCOUNTING AUDIT AND ASSURANCE

Scope of management accounting in public sec- Scope and legal, regulatory and ethical environment in which
tor organizations, including ensuring sustain- audits are performed; risk assessment and planning proce-
ability of resources; the role of budgets, budget dures required by internal and external standards; preparation
execution, and budgetary control in short- and of working papers on the testing performed to obtain sufficient
medium-term financial plans; recording cost and appropriate audit evidence; use of audit evidence to form
data and using costing techniques; applying an audit opinion; preparation of working papers on audit final-
management information in decision-making. ization procedures; role of internal audit and related tasks.

FINANCIAL ACCOUNTING FINANCIAL MANAGEMENT

Work environment and ethical standards of pro- Role of financial management and the economic environment
fessional accountants; accounting fundamen- in which organizations operate; financial institutions and mar-
tals and principles of double-entry accounting; kets that facilitate financing; role of treasury management and
preparation of accounting records that meet application of the tools and techniques used to manage finan-
the standard financial statement assertions cial risk; financial investment appraisal techniques to evaluate
and requirements of selected IPSAS; prepara- capital projects; calculation of external and internal prices, tak-
tion of simple financial statements for sole trad- ing account of relevant economic and organizational factors;
ers; maintenance of accounting records and effective working capital management techniques.
preparation of financial statements.
BUSINESS AND CHANGE MANAGEMENT
NATIONAL PUBLIC FINANCE AND ACCOUNTAN- Application of key tools and techniques to ensure successful
CY LEGISLATION AND TAXATION project management, including specific issues associated with
Overview of legislative plans in public finance; IT projects and process change; techniques to deliver success-
structure of the country’s public sector; princi- ful programs; approaches and techniques to plan change,
ples and practices of government accounting; manage the change process and embed new ways of working;
budgeting and accounting system; sources of techniques to commission services to bring about change and
revenues, including taxation, fees, rents and achieve strategic outcomes, and to procure the goods, works
charges; key elements of income and expen- and services required by a business.
diture; administration and accounting of sala-
ries, wages and pensions for public employees; PUBLIC SECTOR FINANCIAL REPORTING
legislative and organizational framework of the The external financial reporting framework for the public sector;
Office of the Accountant General; legislative preparation of key external financial statements by applying rel-
setting of public contracts; formation and oper- evant accounting standards; regulatory framework for measur-
ation of companies. ing performance in public sector organizations.

4
GENERATIONS & DONORS
CERTIFICATE DIPLOMA
AWARDED AWARDED PROJECT
ACCOUNTANTS ACCOUNTANTS DONORS

24
FIRST Ministry of Foreign Affairs, Slovenia
through Slovenian Aid
GENERATION
2012/2013 Central European Initiative

Strengthening Accountability
SECOND

10 9
and the Fiduciary Environment
GENERATION (SAFE) Trust Fund of the World Bank
2014/2016 Central European Initiative

19
THIRD
Ministry of Foreign Affairs, Slovenia
GENERATION through Slovenian Aid
2020/2021

CEF and the Ministry of Finance

62 IN TOTAL
of North Macedonia supported
all PACT projects through in-kind
contributions.

5
 PACT PROGRAM
DURING COVID-19
2020–2021

6
STRONG COOPERATION WITH LOCAL
INSTITUTIONS AND PARTNERS

Today it is impossible to imagine the operation of the public sector

and implementation of its functions, activities and tasks without
quality accounting information. Accounting, financial reporting
and disclosure of accounting data are essential prerequisites for
good practice of financial management in the public sector.

The Ministry of Finance recognized the influential role of accountants on eco-

nomic stability and in 2008 expressed the need for cooperation with the CEF
to develop the knowledge and skills of accountants.

The Ministry of Finance, in cooperation with the CEF, is coordinating the PACT
program. Organizing trainings and exams is a good opportunity for public sec-
tor accountants to attend lectures about accrual accounting and applying in-
ternational accounting standards in the public sector.

The training courses and exams for public sector accountants in North Mace-
donia are one of a kind and of high quality. This educational process helps
public sector accountants to advance their way of thinking about the impor-
tance of accounting information for all levels of management, especially for
those who make economic, political and managerial decisions.

The experience that we acquired in the past two years (2020 and 2021) in
coordinating the training activities and exams helped us build and develop the
professional capacities of the Ministry’s staff, which also impacts the results
of our work.

It is a pleasure to work with an institution like the CEF. We learned a lot from
them during the process of organizing training and exams for public sector ac-
countants. We will apply the acquired skills, knowledge and experience in the
new training programs that we will be implementing independently and locally
through the Academy for Public Finance.

LENCE TAGASOVSKA ZEJNIE ELMAZI

Head of Financial System Department Local Coordinator
Ministry of Finance Ministry of Finance

7
 It is my pleasure to witness the fruits of The CIPFA is thrilled to be supporting the PACT program in
Slovenian support for North Macedonia, North Macedonia, which has now been successfully deliv-
not just in political terms but with concrete ered for three generations at the certificate level, and one
activities in very practical areas. Training of generation at the diploma level. We see the PACT program
public accountants is important for the institutions and as an important means of both developing the capacity of public sec-
individuals who are the main beneficiaries of the proj- tor officials and implementing reforms in the sector, especially when it
ect and also for the general trust of the public in the comes to public sector accounting.
functioning of the state.
Jointly with the CEF, we’ve been able to provide the opportunity for
The Slovenian international development cooperation public sector accountants to further train and develop their skills, all
has in the past 11 years financially supported numer- while building upon their professional qualifications and foundational
ous projects in North Macedonia in various fields, in an knowledge.
overall value of around EUR 26 million. No other coun-
try in the Western Balkans, except for Bosnia and Her- During the last iteration of training, we partnered with the CEF not only
zegovina, has in the past decade received such amount on training delivery, but also on an array of complementary activities.
of our development assistance, largely focused on the We had the opportunity to share knowledge about how financial and
areas that are at the forefront of the EU accession pro- management accounting can support better decision making amid the
cess. Covid-19 pandemic with accountants first hand. For the first time, we
delivered a joint conference with the CEF, Supporting Accounting and
I am happy that the PACT project in North Macedonia Auditing Developments and Synergies, in the summer of 2021. The
reached its successful completion, with 19 students conference combined both North Macedonian and international exper-
gaining certificates. There is no doubt that the knowl- tise in this field.
edge obtained by those participating in the training will
bring valuable progress to the sphere of public sector We have been delighted to continue our collaboration with the CEF to
accounting. Furthermore, this project also supports the deliver excellence in IPSAS training and qualifications. We are proud
needed reform processes in the country and thus con- to award our certificates to the successful participants of the program
tributes to the fulfillment of EU pre-accession terms. and we congratulate them on their excellent results.

MILAN PREDAN KHALID HAMID

Ambassador of the Republic of Slovenia International Director
to the Republic of North Macedonia CIPFA

8
 Finalizing the implementation of the PACT program in North Macedonia in
2021, the same year that the CEF is celebrating its 20 years of existence,
has a certain symbolic value. For two decades, the CEF has been cooper-
ating with North Macedonia in many projects and activities.

We have been supporting capacity development of public officials and institutions

to implement public financial management (PFM) reforms, both through technical
knowledge and leadership skills. Back in 2008, North Macedonia was one of the
first countries to implement, together with us, a certification training for accoun-
tants. Since then, many accountants and auditors have taken part in our certifi-
cation programs; 193 of them have obtained certificates or diplomas in the past
13 years. We feel honored to be entrusted with an important role in developing,
designing and executing these programs. We have been working closely with public
institutions in responding to the needs of their teams and individuals.

The PACT program pays attention to many areas that support the successful im-
plementation of public sector reforms. First, it ensures the local sustainability of
the project by creating a pool of trained lecturers and students, who can later on
implement localized training for all public accountants. Second, it aligns training
with national legislation, combining the best international practices and national
perspectives of regulating public sector accounting. Third, it develops the local ca-
pacity to independently run the program by training a local institution and individu-
als, and working closely with the Ministry of Finance of North Macedonia to ensure
strong ownership of this process.

This iteration of the PACT project came with new challenges for the CEF, the public sec-
tor in North Macedonia, and the entire world. We started to carry out the project when
the outbreak of Covid-19 stopped regular life. This required us to be agile and adjust to
the circumstances. We had to implement new ways of communication and learning to
all of our planned activities. Today, I am proud to say that this is the first generation of
PACT students that had the opportunity to be trained online, keeping connections with
colleagues and tutors when it was almost impossible to meet them in person.

On behalf of the CEF team, I congratulate the students, tutors, the Ministry of Fi-
nance, and everybody else involved in the training on their results, dedication and
hard work in times of uncertainty.

JANA REPANŠEK
Director
CEF

9
10
PACT PROGRAM IN ONLINE
LEARNING ENVIRONMENT

At the beginning of 2020, while we were making plans for a standard,

face-to-face training for accountants, we could not imagine that very
soon internet connection and online platforms would become our only
channel for communication, learning and knowledge sharing.

We faced many challenges: How to package an intense certification training, usu-

ally delivered in the classroom, in an online format? How to establish and maintain
the network between students and tutors, while keeping them safe? How to en-
courage public sector officials to invest in their professional development in times
of uncertainty and unpredictability both in business and personal terms? How to
continue making things happen?

The first thing we did was to completely change the lecturing format. Instead of
in-class training, together with the tutors, we developed online learning elements:
webinars, video lectures, quizzes, assignments and learning materials. Through-
out the learning units, students studying various modules had the opportunity to
check their knowledge and progress, and distribute their time for learning. At we-
binars, they were building a network with other colleagues, discussing the most
challenging units and preparing for exam sitting.

Now, after more than a year of implementing the program, we can take a break
and celebrate our achievements. This applies to all involved with the program: stu-
dents, tutors, partners, colleagues. Although this was something new for all of us,
not only we successfully completed the first online delivery of the PACT program,
but are also richer with a new experience that will help us face future challenges.

Congratulations to all North Macedonian accountants who participated in the pro-

gram. Without you, your ambition and your dedication, nothing of that would have
been possible.

JOVANA KOLOSKI
PACT North Macedonia Project Manager
CEF

11
 3 13 40 89
ONLINE WEEKS HOURS
MODULES OF ONLINE LEARNING WEBINARS OF VIDEO MATERIAL

11 PACT TUTORS
NATIONAL
FINANCIAL MANAGEMENT
LEGISLATION
ACCOUNTING ACCOUNTING
AND TAXATION

MAKSIM ACEVSKI ATANASKO ATANASOVSKI MARINA TRPESKA

SLAVICA PEKOVIKJ ALEKSANDAR NAUMOSKI FATMIR ADEMI

SASHA SASHEK GOSHEVA ALEKSANDRA DIMOVSKA MARINA JOVESKA

BLAZHESKA
ALEKSANDRA BALEVSKA- MARINA JOVESKA
DIMITROVSKA BLAZHESKA BOBAN PAUNOV

BOBAN PAUNOV

12
VALUABLE SUPPORT
OF LOCAL EXPERTS

As a tutor and co-leader of the group of tutors in

the financial accounting module for PACT certifica-
tion, I appreciate the opportunity to provide train-
ing in IPSAS and their application for public sector
accountants in North Macedonia. The PACT program provides
valuable training for the development of competencies among
accountants in applying accrual-based principles and the rules
of accounting and preparation of IPSAS compliant financial
statements for governmental entities. It builds essential human
capital to support future efforts of the government, while tran-
sitioning public sector accounting and financial management
system to an accrual basis.

The group of public sector accountants was actively involved

in the training activities designed to understand the principles
of accrual accounting and application of relevant IPSAS stan-
dards, identify application challenges in the local setting and
recognize the expected benefits of modern accounting prac-
tices. The delivery of the PACT program training was challeng-
ing and often required on-the-go adjustments of the training
methods. Although challenged by the Covid-19 pandemic, we
successfully employed inventive teaching and tutoring tools in
cooperation with the CEF project leaders and staff. We did this
through live web consultations and discussion forums to pro-
vide appropriate learning support for the PACT students. The
CEF project team, the tutors and PACT program participants will
bring forward invaluable experience from the completion of the
project.

ATANASKO ATANASOVSKI
Tutor and Co-leader for Financial Accounting
Assistant Professor
Faculty of Economics, Ss. Cyril and Methodius University

13
 In my capacity as head of the sector for EU-IPA funds manage-
ment in the Ministry of Finance, I had the opportunity to par-
ticipate in the PACT training program, and acquire a CIPFA in-
ternational certificate in 2015 and a CIPFA international public
sector accounting diploma in 2016.

Obtaining these certificates was not easy but my motivation was great,
knowing that the program had been developed by the CIPFA, an interna-
tional accountancy membership and standard-setting body. Taking part
in these trainings helped me acquire competences and knowledge of the
rules, international standards and practical requirements regarding ac-
counting and financial regulations of PFM. This helped me better under-
stand and apply more appropriately the international accounting rules, and
make proposals for increasing the compliance of the national legislation
with the international standards and rules in the area of accounting and
public finance.

In 2021, I participated as a junior tutor in the governing accounting module

of the PACT program. It was challenging to organize the training, given that
it took place in an online environment. However, by using various tools for
online presentations, such as online quizzes and group discussions, video
recordings and practical examples, the training syllabus was appropriately
designed and knowledge successfully transferred to students.

The particular impression that the trainings organized jointly by the CIPFA
and the CEF left on me was the top-notch professionalism in delivering
more or less the same extent of materials online, including the combination
of international and national rules. The selection of trainers was excellent;
they gave timely answers to every question, addressed any lack of clarity for
the students, and estimated students’ knowledge and skills following the
highest standards and rules.

In conclusion, the benefits of taking part in CIPFA programs are numerous,

from both, the aspect of personal development and the contribution made
to develop and modernize the PFM system in the country.

FATMIR ADEMI
PACT Student and Junior Tutor for Management Accounting

14
 The motto I follow is: never stop learning and success will inevitably come.
I have always known how to seize all opportunities in education, and in
this case, it was through the PACT program, provided by the CEF, the CIPFA
and the Ministry of Finance of North Macedonia.

I came across the PACT program for the first time as a student. I have significantly
enriched my experience and knowledge in the field of accounting, primarily in rela-
tion to IPSAS standards. The prompt reactions and response by the lecturers, who
were always open for communication, ready to offer advice and share their knowledge
– not only in the context of a particular subject but also within all spheres of their
competence – are praiseworthy. The key to success, however, is the dedication of the
students to the program, as well as the collegiality and collaboration among them.

The most impressive to me was the process of learning through specific case scenari-
os, examples and exercises, the contemporary literature and the excellent theoretical
background provided, and the continuous exchange of knowledge and experience
with the lecturers and the other students in the group.

The excellent results that I had demonstrated in the past as a student, contributed to
my engagement as a junior tutor in the PACT program. Thus, I have further enriched
my professional resume and opened up a leeway for new achievements.

The first time I got a chance to be a tutor, I decided not to miss this opportunity. The
experience acquired is tremendous, whereas the challenge and pleasure to pass on
knowledge to someone else and help them develop in their professional life is priceless.

Most importantly, under the PACT program, I had the opportunity to establish both
professional and friendly relations with a large network of inspiring, creative and ded-
icated professionals, with whom I hope to continue successful and profound future
cooperation.

To all those who consider getting involved in the PACT program - I would recommend
not to hesitate to do so, because it is about investing in yourself. You cannot make
any mistakes by taking this chance. All goals are achievable with committed and per-
sistent work.

SASHA SASHEK GOSHEVA

PACT Student and Junior Tutor for National Module
Head of Sector for Financial Affairs
Customs Administration

15
16
WHAT PARTICIPANTS
SAY ABOUT PACT

Being part of the PACT program has been one of the best
opportunities given to us for learning during my ten years
of experience in the payment and accounting unit, serving
the financial public sector. It has been a privilege to learn
from successful professors and administrators, although the way of
communication due to the Covid-19 circumstances has been quite
challenging and nonsocial.

The program was cleverly divided into three sessions. First, we worked
on financial accounting, then managerial accounting and eventually
the legislation in North Macedonia. Although much of what we did was
part of our day-to-day work in the public accounting sector, I have to
admit that there was also a lot of material that added well to our exist-
ing knowledge.

This is a new but very important professional and personal experience,

because regardless of our experience and knowledge so far, we always
need to improve and do our job even better, especially in this form that
is many times more valuable than any of the previous trainings offered
to us.

I would also like to mention that it has been a pleasure to cooperate

with colleagues from different institutions but with similar experienc-
es, and the CEF and the CIPFA. I hope projects of this kind continue to
be an ongoing practice in the future, supporting and improving knowl-
edge in the public accounting sector.

KUJTESA HAJRULLAI PUSHKULE

PACT Student
Responsible Accountant
Municipality of Struga

17
 My participation as a student in the PACT program provided me with a
good opportunity to acquire new and additional knowledge in the field
of financial and management accounting, as well as the overall legal
framework and applicable national legislation in North Macedonia.

I would like to emphasize the part of the training that covered financial account-
ing. We studied international accounting standards to learn more about accrual
accounting and the difference with cash-based accounting, which is currently used
in our national system, including how to record, classify and summarize business
transactions and compile financial statements from these records. In the area of
management accounting, the study of theories and techniques related to plan-
ning, decision-making and control contributed to better understanding how to pre-
pare plans, analyses and reports on operating with budget funds.

The teaching process was online due to the Covid-19 measures, without any phys-
ical interaction or personal networking with other participants – a new experience
for all of us who attended the training in a combined manner, with video presen-
tations and live lectures. This had its advantage – we could watch all the presen-
tations again at any time and for an unlimited number of times. Moreover, we
had the privilege of being educated by top experts and professionals in their field,
including university professors and the Chief Auditor General.

I would like to thank all the tutors who invested their knowledge and time to help
us master the subject easily, during the entire period of preparation, primarily
through electronic communication. The exams were a challenge for me, given the
difficulty of the tasks/questions and the time required to solve them, but I did my
best while testing my knowledge and speed.

I am pleased to have participated in the PACT program in North Macedonia. In

the course of this journey, until reaching the end of Level 1, I not only acquired
knowledge and skills but also met new friends and colleagues in the field of public
finance, with whom we now regularly exchange experience and knowledge.

ZORAN JOVANOVSKI
PACT Student
Head of the Department for Financial and Material Operations
Higher Administrative Court Skopje

18
 My first experience with the CEF and the CIPFA was the PACT
program that took place in September 2020. Being a PACT stu-
dent in the first generation of online students was a very useful
and rare experience for me. Learning with virtual tools and hav-
ing online lessons with tutors on the Webex platform during the pandemic
outbreak and isolation period was a great challenge for all of us.

The PACT program consists of three parts: financial accounting, cost ac-
counting and a national module with the current legislation. Together these
parts complement the framework for a successful certified public sector
accountant. The program requires students to commit significant time to
continuous learning: doing homework and preparing before the start of
each session. The workbooks were very extensive and prepared public
sector accountants for the transition from cash-based to accrual-based
accounting.

For us, students, mastering the exam materials was much easier with ad-
vice from top university professors and former students who have become
tutors. The exams taught me to be fast, efficient and accurate in drawing
conclusions and solving logical problems that every accountant faces in
performing their job tasks.

For me, an internal auditor in a municipality located in the center of the

country, obtaining a degree as a certified accountant in the public sector
is very important, because every auditor who wants to be professional and
competent needs to know the accounting standards and rules of financial
management and reporting. I strongly recommend the program to all my
colleagues, internal auditors and accountants in the public sector, because
it is a synergy of lessons, good practices and meeting colleagues.

NADICA TOSHEVA
PACT Student
Senior Auditor
Municipality of Veles

19
20
COMPLEMENTARY KNOWLEDGE
SHARING ACTIVITIES
The Covid-19 pandemic has underlined the importance of public sector accounting for efficient
PFM, and the significance of networking and sharing experience and challenges with accountants
in the region.

We aimed to provide additional learning and knowledge-sharing opportunities to public sector ac-
countants and other officials. In cooperation with the CIPFA and local and international experts,
we explored different formats of learning. Accountants had a chance to gain new knowledge of
different topics and activities, which empowered their role in the Covid-19 recovery process and
reform implementation.

21
 E V ENT S ORG A N I Z E D

FINANCIAL ACCOUNTING, SUPPORTING ACCOUNTING INTERNATIONAL PUBLIC SECTOR

MANAGEMENT ACCOUNTING AND AUDITING DEVELOPMENTS ACCOUNTING STANDARDS
AND COVID-19 AND SYNERGIES (IPSAS)
WEBINARS HYBRID CONFERENCE WORKSHOP

We discussed how knowledge obtained The conference brought together accoun- The training combined theory with prac-
through financial and management ac- tants and auditors working at ministries tice and international with regional and lo-
counting helps accountants in: of finance and line ministries, and repre- cal aspects, giving participants insight into
• Recognizing the value of reconciliations sentatives of supreme audit institutions, challenges and opportunities in the local
and controls over financial information human resource managers and the aca- environment.
• Ensuring accountability and preparing demia, and other public officials whose
clear and complete records and state- work relates to the topics discussed: Public sector accountants had a chance to:
ments of activities for internal and ex- • Managing public sector assets • Discuss with experts and peers the
ternal scrutiny • Fraud & anti-corruption policies challenges, boundaries and opportuni-
• Recognizing how to match the informa- • Leadership for reforms ties of applying IPSAS standards in the
tion in order to assess relevant activities • Promoting accountants’ and auditors’ local and regional environment
• Understanding asset valuation and re- learning and knowledge sharing • Learn about the requirements and ben-
cording of payments and receipts efits of accrual-based accounting
• Developing attitude towards risk and its Organized as a hybrid event, it served as a • Increase their understanding of the use
influence on decision making platform for exchanging expert knowledge, and impact of specific international ac-
• Improving inventory management and experience, best practices, and recom- counting standards
procurements mendations to public sector accountants.

22
 PROJECT D O N O R S

This brochure is a result of the project Public Accountants Certification Training in North Macedonia (PACT NMAC 3), financially supported by the Ministry of Foreign
Affairs, Slovenia, through Slovenian Aid. Ministry of Finance of North Macedonia and the CEF supported the project through in-kind contributions.
Statements expressed in this publication do not necessarily reflect the views of the CEF, the institutions and governments of countries represented.

23
CEF AT A GLANCE
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