ACCA’s new Cert PFM qualification to upskill public sector finance professionals

The new Certificate in Public Financial Management (Cert PFM) qualification by ACCA (the Association of Chartered Certified Accountants) is now available for public sector employees and those looking to work in the sector in future.

The global public sector is changing so it is critical that finance professionals working in the industry can manage it. Whilst the ACCA Qualification is a perfect fit for a career in the public sector, ACCA have developed the Cert PFM to help support and build strong public financial management in response to this demand from the industry.

Cert PFM is designed to equip people with stronger and more relevant budgeting, financial reporting and financial management skills specifically for the public sector. Delivering practical and broad-based knowledge of public financial management, the course covers the foundations of public sector finance and ensures public sector employees have a core understanding of what is involved in using essential information for those in public sector careers.

The course is built around the public financial management cycle including:

· Planning and budgeting
·       Budget execution
·       Accounting and reporting
·       Audit, governance and oversight

Cert PFM includes both an online course and an assessment and it takes approximately 40 hours to complete.

Sajjeed Aslam, head of ACCA Pakistan said, “We work with public sector organisations in Pakistan and across the globe to develop the accountants the fast-changing world needs – accountants who will help to build better societies, economies and nations. Many public sector organisations look to us to keep their teams up-to-date and future ready. They recognise the power of our qualifications and support, both for now and in the future. And this new qualification is another example of our commitment to this important sector.”

Judith Bennett, director of professional qualifications said, “We’re delighted to now offer the Cert PFM qualification worldwide. Given the pace of change and size of expenditure in the public sector, it’s critical that those working in the sector have the right skills to deal with the challenges ahead. We have developed this qualification in response to demand from the public sector and to help support and build strong public financial management. ACCA believes public finance professionals play a role as key enablers and supporters of innovation throughout the public sector.”

Alex Metcalfe, head of public sector policy adds, “ACCA has a long history of involvement in developing the finance profession that the public sector needs. Our 67,000 members and students working in the public sector organisations around the world demonstrates that the ACCA Qualification is fit for the public sector, but our capacity building work highlighted a need for introductory training in PFM. This new Cert PFM will meet that demand and provide public sector employees with the foundations required to excel in the public sector.”

Cert PFM is suitable for new entrants to the public sector, as well as staff with practical experience but without formal professional qualifications, and professional accountants moving into the public sector from the corporate sector or professional practice.

For those that already hold a professional qualification, Cert PFM can be a valuable source of continuing personal development (CPD) for members, offering an opportunity to top up existing competencies with specific knowledge and skills around public financial management.