Public Finance and Institutional Capacity Development
Abacus understands that effective Public Finance Management (PFM) systems maximize financial efficiency, and improve transparency and accountability that contribute to long-term economic success.
Abacus’s services on PFM evolved after greater demands for accountability and transparency in the changing economic environment. PFM involves the establishment of structures, mechanisms and rules that govern management of public finances keeping in view the best practices and technological advancements in the business world.
Budget Preparation and Execution
Budgetary reforms play a pivotal role within the development policy, something that reflects on the importance of effective financial management. It is important to understand the politics and economy of the country in order to introduce the budgetary reforms. The budget execution and implementation remains a significant challenge because upon its approval, the budget must be executed as planned, with appropriate management controls and well placed accountability system.
Abacus has extensive experience in the design and implementations of budgetary management reforms including MTBFs and MTEFs. We have successfully implemented Planning, Budgeting and Improved Expenditure Management Systems. The objectives we set for ourselves comprise of public financial management in improving effectiveness, predictability and accountability mechanism in different layers of government, and workings with various development agencies e.g. DfID, World Bank ADB and USAID.
Revenue and Treasury Management
Revenue and Treasury Management is an important function that enables governments to manage debt, investments, and effective service delivery. Abacus provides services which modernize the public financial management systems, remove inefficiencies, and comply with various local and international standards.
Public Expenditure Reviews
Abacus’s Public Expenditure Review services are based on the main diagnostic studies that help countries establish effective and transparent mechanisms to allocate and use available public resources in a way that promotes economic growth.
Fixed Asset Management
Asset Management as a whole is a very diverse field and requires a sensible and careful approach. Abacus considers itself as an expert in the field of Asset Management and provides valuable and priceless advice on how best to utilize and manage your fixed assets.
Accounting and Financial Reporting
Through re-engineering the systems and applying international best practices and standards (IPSAS), Abacus helps governments who are committed to improving public financial management, accountability, and transparency in order to facilitate public oversight and increase credibility.
Legal and Institutional Frameworks
Legal and Institutional Frameworks are the cornerstones of today’s organizations. By establishing a clear-cut set of rules and fully understanding what needs to be avoided and what needs to be done in legal terms, Abacus provides services in understanding public finance law and assist in reviewing and drafting legislation.
Training and Capacity Development
Bringing out the best in employees can only be done by constant training and capacity building programs. AbacusConsulting has been assisting governments in their specific training programs (TNA, Training Strategy, Training Execution) in fields of PFM, HR, Procurements, M&E and IT for over two decades. Abacus has successfully delivered many capacity building projects funded by multilateral and bilateral donors.
Abacus’s strong technological background uses international “best practices” for designing and implementing Integrated Financial Management Information Systems (IFMIS) and putting them into place in specific environments.