Government sets up Office of Financial Management

"The Government reorganized the State Audit Service and established the Office of Financial Management as a central executive body (inspection) which will implement state policy in the field of public financial management. The activity of the Office of Financial Management will be assigned through the Minister of Finance," the press service of the Ministry of Finance of Ukraine reports.

It is noted that the establishment of the Office of Financial Management is the first step in the implementation of Presidential Decree No. 837 of November 8, 2019 "On Immediate Measures to Reform and Strengthen the State".

The Cabinet instructed the Ministry of Finance to take the necessary measures to ensure the preparation of the draft regulation on the Office of Financial Management and to make necessary amendments to the legislative acts. In preparing these documents, the functions, powers and structure of the body will be optimized, which will help to increase the efficiency of management over the use of public resources.

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