Bulgaria: Strengthening financial management control

FPO provided team leadership and key expertise in strengthening financial management and controls in budget execution in the following projects:

  • Support to the Bulgarian National Audit Office (BNAO) in pilot audits (8 Financial Audit State Budget, 3 Financial Audits Municipalities, 1 EU funds, 1 Performance Audits) (2/2004 -10/2004);
  • Support to the Ministry of Finance in explaining the difference between internal audit (IA) and financial inspection and in drafting an IA manual (2/2004 – 5/2005);
  • Support to drafting new laws for Financial Management Control, IA and Financial Inspection (5/2005 – 12/2005).
  • Peer Assistance Review of the BNAO of which the results served as input for a new Strategic Development Plan (11/2005 – 8/2006);
  • Support to the MoF in drafting secondary FMC and IA legislation, further development of the IA manual and the drafting of a manual for the Audit Authority (AA) for auditing EU funds (2/2006 – 11/2006);
  • Support to implementation of the FMC and IA legal framework: Risk management (FMC), Self-assessment (FMC), quality control (IA), Audit engagement (IA), reporting (IA), Audit Committees (IA) (8/2007 – 12/2008);
  • Support to the MoF in testing the new IA manual in two pilot IA audit(2/2008 – 11/2008);
  • Support to the MoF  by means of a Peer Assistance Review to assess the implementation of the new PIFC legal  framework (5/2008 – 12/2008).