As part of the ongoing PFM reform developments in Somaliland, the PFM Coordination Unit of the Ministry of Finance Development has organized a four-day validation workshop on the Somali translation of key financial regulations/policies on December 22 – 25, 2018.
The objective of the workshop was to validate the translations contained in the draft Somali version of the key financial documents in collaboration with major stockholders and to deliberate on feedback from group discussions through plenary sessions
These documents were developed to strengthen the capacity of public institutions in Public Financial Management and to contribute towards enhancing prudent, accountable and transparent management of public resources.
The participants for the workshop were knowledgeable civil servants from key Ministries, Departments and Agencies. These includes, Ministry of finance Budget department, Auditor General Office, Accountant General Office, The Central Bank and other public institutions
The key discussion points of the workshop focused on ensuring the level of semantic accuracy of the vital terminologies used in the Somali translation to reconfirm error-free translation of the financial regulations/policies.
The primary objective of these policy documents is to provide public institutions with detailed financial administrative policies and procedures in a style and level of detail that allow public financial institutions to understand and carry out their work in a way that complies with best practice in financial regulations and procedures. These policy documents address the general requirements and general policies as well as detailed procedures and activities that promote efficiency, transparency and accountability in the use and management of public funds
The PFM is designed to improve government’s capacity and systems to utilize public funds, towards meeting the National Development Plan (NDPII) goals and those of Vision 2030.