Professionalization of the Public Sector Key Message of the Congress

(Patria) - Professionalization of the public sector in successfully addressing sustainability challenges is the key message of the 2nd Congress of the Public Sector of Bosnia and Herzegovina, held over the past three days in Neum, organized by the consulting firm Revicon.

Jelena Misita, Executive Director of Revicon, emphasized that this congress represented a valuable opportunity for public finance experts to jointly consider key changes in sustainable public financial management in order to be prepared for their effects on work.

- The key message we are sending is the need for professionalization in the public sector. Given the complexity of modern challenges, each of us must strive for specialization in certain areas to contribute to more sustainable management – Misita points out.

ESG - environment, society, and governance – as the most frequently used acronym during the congress, introduces a change in the approach to public finances. Misita explains that this initiative did not originate from states or regulators, but from influential global investors, who require projects to be focused on sustainability and contribution to society. This poses major challenges for the public sector, which must quickly adapt and shape processes for the real sector.

- We in Bosnia and Herzegovina will also have to align legislation with ESG requirements. In most countries, at least two laws have been amended – the law on accounting and auditing and the law regulating the capital market – Misita stated.

Arnela Muhotić, legal advisor for labor law and occupational safety at Revicon, points out that it is also important to send a message about the importance of workforce planning. - There is no successful reform without human resources. This is especially important in the public sector, whose main role is to serve citizens and work in their interest. Time and effort should be invested in planning. In the Republika Srpska, the workforce plan has already been introduced and the practice has proven good. In the Federation of Bosnia and Herzegovina, the legislation has not yet been adopted – she stated.

Amra Salihović, consultant for accounting and tax areas at Revicon, highlighted as an important message of the Congress the importance of recognizing and managing risks. - Risk is not only what can disrupt our work, but risk is also failing to recognize an opportunity that we could have done something more significant, that we could have invested public funds better and helped our children and future generations – she explained.

In that segment, she emphasized that the three lines of defense model used in public financial management has lost the designation of defense and transformed into cooperation, cohesion, and teamwork.

- And only in that way can we successfully carry out the processes ahead of us – Salihović concluded.