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The Chartered Institute of Public Finance and Accountancy (CIPFA) has signed a Memorandum of Understanding with the Bangladeshi Financial Management Academy (FIMA), in a move that will help strengthen the public sector in Bangladesh and further cement CIPFA’s presence in the country.
The MOU will see CIPFA providing support and training for FIMA instructors on CIPFA’s International Professional Qualification (IPFM). This new, long term collaboration will ensure that FIMA offers sustainable, high quality training in Public Finance Management to members of the Office of the Comptroller and Auditor General (OCAG) in Bangladesh as well as other government agencies and non-governmental agencies in the country.
The collaboration is part of CIPFA’s work in relation to the Strengthening Public Expenditure Management Programme (SPEMP). SPEMP is one of the largest Public Financial Management reform programmes in the world and is supported by numerous donors including the World Bank and DFID. One of the first results of this collaboration is a "National Module" developed as part of the SPEMP-B project. The module is a specific Public Financial Management course designed and developed by expert former Bangladeshi Government staff with support from CIPFA.
Commenting on the MOU Alan Edwards International Director at CIPFA said:
“CIPFA is delighted to be working with FIMA and the Bangladeshi Comptroller and Auditor General to strengthen training in Public Financial Management in the country. Professional public financial management is fundamental to the delivery of good quality public services, value for money and good governance. We look forward to a long and fruitful relationship with FIMA and others in Bangladesh.”
Note to editors
Present Financial Management Academy (widely known as FIMA) had its origin in the form of the Audit and Accounts Training Academy (AATA) starting in 1962 as an Audit and Accounts Training Centre to impart training to non-gazetted employees of the different Audit offices stationed in Dhaka headed by a Deputy Director under the Control of the Comptroller and Auditor General. After independence in 1971, the Training Centre was upgraded in 1974, headed by a Director General under the direct Control of the Comptroller and Auditor General of Bangladesh. In 1997, AATA was again renamed as FINANCIAL MANAGEMENT ACADEMY.
Financial Management Academy is the only training organisation in the government sector which offers training on financial management and discipline to accounting and auditing personnel of Audit and Accounts service at the entry level and while in service. This Academy also arranges different courses on financial management for the officers and staff members of various Ministries, Divisions, and Departments of Bangladesh government. Besides, FIMA occasionally arranges audit and accounting courses for the trainees of the foreign countries.
FIMA plays a significant role in establishing Government financial discipline in the government entities and rendering training at national and international level. FIMA has been trying its best to become a 'centre of excellence' in respect of organizing training in the field of public financial management.