A two-day seminar to build the capacity of general managers of state corporations in organising internal audit before the coming of external auditors, ends in the Seme Beach Hotel, West Coast District near Limbe today.
Organised by the Ministry of Finance in partnership with the Canadian Cooperation, the seminar is being facilitated by experts from the Advanced Institute of Public Management, ISMP and the Prime Minister's Office. During the seminar, some 13 participants, mainly general managers and heads of public establishments, are deliberating and sharing experiences on the Finance Law of 2007, the importance of internal audit, result-based management, risk management concepts, amongst others.
Following the seminar, state corporations are expected to better present their balance sheets for objective auditing. It was equally clear that the 2007 Finance Law that replaced that of 1962, brought in new concepts like results-oriented management. That is why the new Finance Law insists that public financing henceforth be focused on projects and not just for overhead costs. In the past, a ministerial department or state corporation could receive an allocation before deciding what to do with it. But since 2007, every budgetary allocation aims at the implementation of particular projects.
Amongst the corporations attending the seminar are the Cameroon News and Publishing Corporation, SOPECAM, represented by the General Manager, Marie-Claire Nnana, CNPS, IRAD, FNE, ISMP, IRGM, BUCREP, INS, CENAME, amongst others. It should be recalled that the reforms of the 2007 Finance Law provided for a series of seminars to keep managers abreast up till 2013.
