Buletin 3_4-2010 web.pdf - Curtea de Conturi a Republicii Moldova

would help employees learn about the operational
processes, and thus ensure their continuity, regardless
the staff turnover in the entity .
3 . One of the most significant shortcomings is
that auditees do not have a risk management system
for risk identification and assessment, which
also require the subsequent compilation of a risk
register of the entity that would help to mitigate,
treat or remove risks that can influence the functioning
of operational processes and make the management
of processes within public entities more
efficient .
4 . Another element of the FMC system that
needs to be implemented by public entities is the
establishment of control activities by those in charge
at the public entity, which are organized and
performed for all operational processes at all levels
of the entity, and are represented by authorization
and approval, segregation of duties, supervision,
documentation and description of processes . As a
result of audit missions conducted by the Court of
Accounts, it was found that internal controls established
by auditees are not sufficient for the proper
functioning of processes . Thus, operational managers
have to start control actions, in order to prevent
and detect failures .
The deficiencies found by the CoA are due to
lack of managerial accountability for the organization
of the FMC system, caused in turn by lack of
knowledge regarding the concept of public internal
financial control and its components, and also
by the failure to acknowledge the importance and
need for implementing the FMC system in public
entities .
Taking in consideration that the CoA is also a
public entity, it has expressed its willingness to implement
the FMC system within the institution according
to the best international practices . In this
regard, the President of the CoA signed an Order
with the purpose to create a working group made
up of the heads of divisions, who are responsible
for system implementation . This will be achieved
under the Action Plan for FMC implementation,
which includes the following activities:
To set CoA strategic objectives deriving from
the new Strategic Development Plan of the
CoA for the years 2011 to 2015 .
To identify the core processes of the CoA,
specific to audit and support activities .
To annually set operational objectives for the
processes identified according to the SMART
method – specific, measurable, achievable,
realistic and time-bound .
To describe processes in a form of chart, specifying
all the actors involved in the process
and their duties .
To identify the risks for each core process
depending on their likelihood of occurrence
and impact on process functioning, with the
subsequent evaluation and systematization
of all operational risks in the risk register, which
will be further updated .
In the new Strategic Development Plan for the
years 2011-2015 the CoA has set the objective of
strengthening the FMC system by fully implementing
it, which will enable successful delivery of the
objectives set by the CoA in order to serve the society
.
To conclude the subject, the CoA strives for the
implementation of FMC by public entities, which
will increase employees’ accountability for the operational
processes, by describing and documenting
them; identifying and assessing risks, implementing
control activities so that in the end, the manager of
the public entity could monitor the functioning of
the FMC through the internal audit units set up .
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internal Audit