Fjársýslan, The Financial Management Authority (FMA), has from august 1^st 2024 assumed all responsibilities and tasks of Ríkiskaup, the Central Public Procurement office.

Althingi has passed a bill with an amendment to the law on public procurement act no. 120/2016, where the responsibilities and staff are transferred from the Central Public Procurement Office to FMA and the Central Public Procurement Office is officially decommissioned.  

As a result of this a strong service and knowledge organization was formed with a clear focus on government finance, procurement, and human resources. Going forward the procurement experts of the FMA will lead and support public procurement projects in an improved and broader working environment. Emphasis will be placed on value-added services and reforms in government operations.

The transition of responsibilities and tasks strengthens the government's ability to achieve continued success in public procurement and innovation. Enhanced access to data creates opportunities for improved analysis and data-driven decision-making, which will generate additional value for the clients of the FMA in its role as a central procurement organization.