In cooperation with the Ministry of Finance and National Economy.
As part of the approved training plan for the professional year (2024/2025), the National Audit Office (NAO), in cooperation with the Ministry of Finance and National Economy (MOFNE), organized a training course for its employees on the central financial system (CFS). It was presented by MOFNE employees from the relevant departments.
The course, which was attended by about 40 NAO employees, aimed to describe the CFS system, its components and uses, and its role in managing the stages of operations related to procurement, payments, inventory, fixed assets, budget, accounts, registration and financial reports, which would help raise the efficiency and effectiveness of regularity audit work.
The training course included a presentation of the stages of issuing a purchase order, receiving and cancelling goods and services, the difference between the stages of receiving purchases and delivering them as well as the stages of recording the cost of a good or service in the general ledger.
Participants also discussed how to deal with central procurement and joint contracts in the central financial system, expense payments starting from the stage of booking from the budget, receiving invoices and declaring in the system, as well as transactions related to inventory (registration, disbursement, retrieval).
In addition, the course reviewed methods for recording and excluding fixed assets, updating the registry, the budget (recurrent expenses including inventory and projects), revenue recognition, classification, declaration and new procedures, liability accounts and net assets.
Furthermore, the participants learned about the methods of recording obligations and expenses due for recurrent expenses and projects, and the types of reports available in the system, including reports of the annexes to the final accounts of the government, and the detailed reports that are provided to the auditors of the NAO.
