The ICGFM Diploma Course in Public Financial Management (PFM) is aimed at PFM professionals, government officials, development partner staff and anyone who wants to enhance their real-world understanding and practical skills in PFM.

The Diploma course naturally builds on the knowledge acquired in the ICGFM Foundation course, however, it can also be used by those with PFM experience to provide advanced knowledge of PFM issues and techniques, such as medium term and programme budgeting, budget classification, International Public Sector Accounting Standards (IPSAS) and IMF Government Finance Statistics (GFS) reporting, international Standards for Supreme Audit Institutions (ISSAI), governance, accountability and transparency.

The course is delivered entirely online, and employs a mix of short video lessons, detailed workbooks and scenario-based case studies to teach and deepen understanding of the topics covered. Each module concludes with a self-administered online assessment that must be successfully completed before moving on to the next module.

Upon successful completion of a final exam, you will be awarded the internationally recognised ICGFM Diploma in Public Financial Management.

Course Content

The ICGFM Diploma in Public Financial Management covers everything you would expect from a comprehensive, practical training course.

  • Module 1: Planning, performance measures, budget classification and chart of accounts, programme and performance budgeting
  • Module 2: Fiscal and sector strategies, annual and medium-term budgets, budgets, environment, social, and governance (ESG) budgets, open budgets
  • Module 3: Budget execution, fund release, cash, debt, asset and liability management, revenue management, fiscal risk
  • Module 4: Accountability and transparency, financial reporting, IPSAS conceptual framework, cash and accrual IPSAS, transition from cash to accrual, IMF GFS
  • Module 5: Governance, accountability, transparency, internal control and audit, external audit, ISSAI, legislative scrutiny
  • Module 6: PFM assessment, the PEFA assessment framework application framework and utilisation, PFM reform strategies, acquiring and implementing financial management information systems, future PFM issues and challenge.

Course Materials

Every student receives 12 months access to the following:

  • More than 20 hours of interactive video lessons
  • 6 detailed workbooks
  • Scenario-based case study assignments with spreadsheet templates and video walkthroughs of solutions
  • Quizzes to test your knowledge.
  • 6 end-of-module tests
  • Final examination
  • All lessons and materials available for 12 months (extensions available).
Dates On Demand
Length 100 to 120 hours
Pace Self Paced
Fees $1,000 Introductory offer of $600
Language English

Offered By


ICGFM is a non-profit association that was established in 1978. It was founded by a distinguished group of international financial management professionals from government and academia.

ICGFM members include government entities, private sector firms, professional associations, and university departments as well as individuals dedicated to improving financial management around the world.

ICGFM’s dedication to excellence and membership of highly qualified PFM organisations and professionals sets ICGFM apart as an organisation that is uniquely qualified to deliver PFM Courses around the world.

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