Unified Chart of Accounts and Standardized Budget Process (2023)

In 2023, IPF began working on the Development and Implementation of a Unified Chart of Accounts (COA) and a Standardized Annual Budget Process for the Banadir Regional Administration. This project is essential to creating a more coherent financial management framework across different government entities within the region.

By implementing a unified Chart of Accounts, IPF is helping to standardize the classification of financial information, which will allow for better financial reporting, easier comparison of fiscal data across departments, and enhanced budget transparency. Additionally, the standardized budget process ensures that all government departments follow the same guidelines when preparing and submitting their annual budgets. This project is aimed at increasing efficiency, reducing errors in financial reporting, and ultimately fostering a more transparent and accountable fiscal environment for Banadir Region.