9 Topics
5 Days
45 Sessions
Programme Overview
Training Description
- Accountants and management accountants
- Compliance officers
- Internal auditors
- External-audit liaison professionals
- Risk-management professionals
- Procurement professionals
- Public-sector finance officials
- Treasury professionals
- Legal and regulatory affairs professionals
- Grants and donor-finance professionals
- Project and programme managers
- Senior executives responsible for financial governance
Session Objectives
- Identify the key regulatory and legal frameworks affecting budget development. Apply compliance principles at each stage of the budget cycle. Differentiate between public and private sector regulatory requirements. Understand the link between regulatory compliance and ethical governance. Develop a proactive approach to risk identification and mitigation. Interpret and respond to changes in financial reporting standards.
About the Course
Navigating the Fiscal Maze: Regulatory Requirements in Budget Development is a specialized professional training course designed to equip finance, budgeting, accounting, compliance, audit, and management professionals with the knowledge and practical skills required to develop budgets that comply with applicable laws, regulations, policies, standards, and governance requirements.The course examines how regulatory and institutional requirements influence budget formulation, approval, execution, reporting, expenditure controls, procurement, taxation, financial accountability, and audit readiness. Participants will learn how to identify relevant regulatory obligations, incorporate compliance requirements into budget processes, manage regulatory risks, and establish effective controls that support transparent and accountable financial management.
Curriculum & Topics
9 Topics | 45 Sessions
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Workshop 1.1:
The legal basis for budget regulations and oversight.
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Workshop 1.2:
The role of legislative acts, statutes, and codes.
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Workshop 1.3:
Key international and national financial reporting standards.
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Workshop 1.4:
Understanding the difference between rules-based and principles-based regulations.
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Workshop 1.5:
The consequences of non-compliance and reputational risk.
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Workshop 2.1:
Integrating compliance into budget formulation and preparation.
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Workshop 2.2:
The legal requirements for budget submission and approval.
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Workshop 2.3:
Regulatory considerations during budget execution.
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Workshop 2.4:
The role of formal budget amendments and re-allocations.
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Workshop 2.5:
Final reporting and audit compliance requirements.
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Workshop 3.1:
The principles of open budgeting and government transparency.
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Workshop 3.2:
Mandatory public disclosure requirements for financial information.
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Workshop 3.3:
Auditing the clarity and completeness of budget documents.
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Workshop 3.4:
Engaging with civil society and the media on financial data.
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Workshop 3.5:
Case studies on successful and failed transparency initiatives.
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Workshop 4.1:
Designing internal controls to prevent fraud and non-compliance.
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Workshop 4.2:
The importance of segregation of duties and access controls.
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Workshop 4.3:
Establishing effective audit trails and record-keeping systems.
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Workshop 4.4:
Managing risk through a robust internal audit function.
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Workshop 4.5:
Using internal controls to ensure accountability.
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Workshop 5.1:
The legal and ethical standards governing public spending.
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Workshop 5.2:
Implementing codes of conduct and ethics policies.
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Workshop 5.3:
Identifying and managing conflicts of interest.
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Workshop 5.4:
The role of whistle-blower protection in a compliance framework.
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Workshop 5.5:
Anti-bribery and corruption laws and their impact on budgeting.
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Workshop 6.1:
The legal framework for public and private sector procurement.
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Workshop 6.2:
Ensuring fairness and competition in the bidding process.
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Workshop 6.3:
Regulatory requirements for contract management and oversight.
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Workshop 6.4:
Auditing procurement documents for compliance.
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Workshop 6.5:
Managing vendor and supplier risk through due diligence.
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Workshop 7.1:
The regulatory requirements for financial statement preparation.
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Workshop 7.2:
The legal necessity for accurate and timely data.
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Workshop 7.3:
Introduction to data security and privacy regulations (e.g., GDPR).
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Workshop 7.4:
Using technology to automate data collection and reporting.
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Workshop 7.5:
Reporting to regulatory bodies and external auditors.
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Workshop 8.1:
The impact of international agreements and treaties on national budgets.
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Workshop 8.2:
Key standards from organizations like the IMF and World Bank.
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Workshop 8.3:
The role of supranational bodies in global financial governance.
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Workshop 8.4:
Understanding cross-border financial regulations.
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Workshop 8.5:
The challenges of harmonizing national and international standards.
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Workshop 9.1:
Participants will work in teams to audit a case study budget for compliance.
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Workshop 9.2:
Applying all course concepts to a real-world scenario.
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Workshop 9.3:
Identifying regulatory gaps and proposing corrective actions.
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Workshop 9.4:
Creating a compliance checklist and an action plan.
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Workshop 9.5:
Peer review and presentation of findings to the class.
