Public Accountants Certification Training in Montenegro

The PACT learning activities in Montenegro
from 2015 until today have made a large
contribution to the country, not only by
segments, but holistically. As a senior tutor
in the Financial Accounting module, I have had the
pleasure to be part of the PACT program.
First of all, it is a good opportunity for the public
sector in Montenegro to have lectures in accounting
on accrual basis, taking note of the International
Accounting Standards. I highlight this because our
public accounting system is cash basis accounting, and
international certification is a very important factor for
improving this segment of the public sector.
The books and other teaching materials, such as examination
guidelines and grading methodology, are provided
by CIPFA and contribute additional value to this project.
We have very strong and clear procedures in place for
the teaching methodology, exams and grading. This is a
new and important professional experience, as all of us
can improve our daily work based on this methodology.
This educational process helps public sector accountants
to improve their perception of the importance of
accounting information at all management levels, especially
for people that make economic, political and
management decisions.
To summarize this success story, all the above
aspects, which are very positive and important for
the whole training process, were at the same time
a huge challenge for me as a tutor. It took a lot of
hard work to create a new educational environment
for public sector accountants, implement all the
training activities successfully, and help candidates
understand the importance of continuing education
in the accounting area.
Last but not least, I had great pleasure working with
colleagues from the Ministry of Finance, the CEF and
CIPFA, and the HRMA. I hope that projects like these
will remain our practice also in the future.
MILICA DAKOVIĆ TADIĆ
Senior Tutor for Financial Accounting
Assistant Professor
Faculty for International Economy, Finance and
Business, University Donja Gorica, Montenegro
My participation in the PACT program was a positive and useful
experience: first as a student in the second generation of the
training and later as a junior tutor in the third one. I enjoyed
working in a friendly atmosphere, being engaged in a quality
program with high professional standards and working closely with lecturers
who showed a great deal of competency, dedication and attentiveness.
The program encompassed three important aspects of accounting and financial
affairs: the legislation valid in Montenegro; the international aspect
of accrual financial accounting with reporting; and management accounting.
We learnt how the principles of management accounting can be applied
in everyday work when reporting on different levels of managerial structure,
and making different analyses important for decision-making in our institutions.
In addition, we had training in IPSAS, which will enable easier transformation
of the existing cash-based accounting systems to accrual-based
accounting. I believe that we, PACT students, adopted the principles of dual
accounting to a sufficient extent so that we can be the holders of these
changes in our institutions. The program is challenging and the exams are
designed to test not only knowledge but also the speed of problem solving.
A particularly interesting and pleasant experience for me personally was my
role of a lecturer – junior tutor. I benefited a lot from the Training of Trainers,
which helped me prepare for my new role. It was organized as a creative and
fun workshop, useful not only for the needs of teaching and educating, but
contributing also to other spheres of life and work.
I believe that the PACT program is the right step toward building and
upgrading the knowledge and skills that are needed for the transition to
accrual-based accounting system in line with IPSAS. It has significantly
improved my professional and personal capabilities.
IVANA ĆETKOVIĆ
PACT Student and Junior Tutor for Management Accounting
Accountant
Private Accounting Agency, Montenegro
Joining the PACT program, first as a
student of the second generation
and later as a junior tutor of the third
one, offered me a chance to take
part in many interesting events and activities. It
gave me an opportunity to observe accountancy
from a different angle and to learn from welldesigned
study materials as well as excellent and
comprehensive presentations made by local and
international tutors.
My biggest challenge as a tutor was how to pass
on the knowledge in the most appropriate and
useful way and how to get students interested in
the lectures. Students, experienced accountants,
may often get into the trap that the topics are
familiar and expect that exams would be easy to
pass with no or just a little effort. It is the tutor’s
duty to convince them of the opposite and make
them understand that without hard work, learning
and attending classes, it is not possible to obtain
an internationally recognized certificate.
It was not an easy path, being a student and
becoming a junior tutor, but it turned out to be
a successful journey with lots of benefits. It is
difficult to choose one, but I would expose better
understanding of IPSAS.
SRĐANA MILIĆEVIĆ
PACT Student and Junior Tutor
for Management Accounting
Head of Treasury and Accounting Sector
Finance Secretariat, Budva Municipality,
Montenegro
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