Finance Department

The Finance Department, in accordance with its assigned responsibilities, is responsible for developing the financial policy framework and fulfilling the responsibilities arising from the applicable legislation in Kosovo. The Finance Department is responsible for establishing an accountability framework which, within a comprehensive environment of accountability and internal control, enables budget units to fulfill their legal and ethical obligations to execute the TRAINKOS budget efficiently and effectively, while ensuring the principles of transparency and accountability. The Finance Department performs this role by:

The Finance Department is led and managed by the Chief Financial Officer (CFO) / Director of the Finance Department, who has full professional and legal responsibility for the management of the Finance Department. The Director reports directly to the Chief Executive Officer.

The main responsibilities of the Finance Department are:

• Preparing and implementing financial and budgetary policies established by the Board of Directors and the Chief Executive Officer;
• Preparing and drafting company policies related to budget expenditures and revenues;
• Developing and implementing internal control regulations, as well as guidelines and procedures for activities such as budget administration, asset and liability management, and accounting;
• Encouraging the delegation of budget execution within a sustainable framework of accountability and internal control;
• Maintaining comprehensive audit trails, including key documents containing approvals (signatures) and supporting documentation related to expenditures retained by the Finance Department;
• Maintaining detailed accounting records for all transactions, including monitoring commitments and expenditures through the electronic financial management system accessible to all budget units;
• Preparing comprehensive and regular financial reports in accordance with International Accounting Standards; and
• Establishing expenditure rules that ensure the consistent implementation of the above principles and that the actual budget execution reflects the budget approved by the Board of Directors.

The Finance Department is an integral part of TRAINKOS J.S.C., serving as a support department responsible for ensuring the proper management of the company's financial operations.

The Finance Department consists of:

• Finance Sector; and
• Accounting Sector.