Public Financial Management in the Public Sector Vincent Tophoff International Federation of Accountants IFAC GIFT General Stewards Meeting Mexico City Mexico March 89 2017 IFACs Focus ID: 806340
Download The PPT/PDF document "Accountability. Now. Enhancing" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Accountability. Now.Enhancing Public Financial Management in the Public Sector
Vincent Tophoff
International Federation of Accountants (IFAC)
GIFT General Stewards Meeting
Mexico City, Mexico
March 8-9
,
2017
Slide2IFAC’s FocusGlobal organization of the accountancy profession175 member bodies and associates in 130 countries2.5 million professional accountants in public practice, commerce, industry, financial services,
the public sector,
education, and the not-for-profit sector
Public interest focused
Slide3What IFAC DoesEstablish & promote adherence to high quality professional standards
Further adoption and implementation of
standards
Support global development of accountancy profession
Provide a global voice and promotes the value of professional accountants worldwide
Help its members support PAIBs and small and medium practices
Slide4Citizens’ raised expectations+Pressure on national budgets
+
Additional demands as a result of GFC
=
Greater need for sound PFM
The Bar Continues to Rise
Slide5Accountability. Now.
Slide6Good public sector governanceSound public financial management (PFM)High-quality decision-useful information“Built in” not “bolt on”
An Integrated Approach
Slide7Good Governance in the Public Sector: An International Framework
Slide8High-quality accrual-based financial information is the cornerstone of sound PFMAccrual reporting is the benchmarkIncreasing IPSAS adoptionAccrual budgeting is gaining support
Sound Public Financial Reporting
Austria
Russia
Brazil
Slovakia
Chile
South Africa
Columbia
Spain
Costa Rica
Switzerland
Estonia
Thailand
Indonesia
European Commission (for their
own
financial statements)
Kenya
North Atlantic Treaty Organization (NATO)New ZealandOrganisation for Economic Co-operation and Development (OECD)Panama United Nations System Peru
Government debt fears spook global markets
ACCOUNTABILITY.
NOW
.
Slide9Accountability. Now.
Slide10A global campaign for enhanced public financial reporting
Supported by a broad coalition
To:
Raise awareness
Facilitate partnerships
Support capacity building
Can be replicated at the regional and national level
A Global Campaign
Slide11Who Is Involved?Initiative of IFAC Supported by a broad coalition:
C
ivil
society organizations and major international bodies, Accountancy profession, including IFAC, the Accounting Firms,
Organisation
for Economic Co-operation &
Development (OECD),Global Initiative for Fiscal Transparency (GIFT
), comprising International Budget Partnership, World Bank, and IMF
Slide12“PFM reform is the ultimate public interest issue for the accountancy profession”Warren Allen, IFAC Past President
The Role of the Accountancy Profession
Slide13The Accountancy Profession—Actions at the Global, Regional and National LevelGlobalIFAC and its Accountability.
Now
.
campaign / PAODCInternational Public Sector Accounting Standards Board (IPSASB)
International Organization of Supreme Audit Institutions (INTOSAI)
Regional
Regional Organizations and Accountancy Groupings in the private and public sectorsNational
Professional Accountancy Organizations
Accountants General & Supreme Audit
Institutions
Individual professional accountants in the public
sector
Slide14Campaign Activities: At the Global LevelBuilding a global coalitionRaising awareness – reinforcing the benefits of sound public financial reportingBringing together key actors in the
public sector community
to take action
Building capacity at a country level – through engagement with local accountancy organizations
Slide15At the Global Level—Accountability. Now. IndexExamplesOn IPSAS adoption
globally
Based
on the IPSAS adoption surveyIndicator of
quality
of public sector financial information
Slide16Pan African Federation of Accountants (PAFA)Partnered with IFAC, FIDEF, World Bank, and African Development BankRaising awareness and building partnerships in Francophone AfricaPublic Financial Management—Financial Reporting for Results, Dakar, Senegal, October 28-30, 2015PFM Event for Francophone African Countries, October 27–28, 2016, Antananarivo, Madagascar
Exploring similar event for Anglophone Africa, as well as establishing PFM technical capacity
At the Regional Level—PFM as Strategic Objective
Examples
Slide17Institute of Chartered Accountants of the Caribbean (ICAC)Partnered with IFAC & World Bank, supported by government of the Bahamas:Strengthening Public Financial Reporting and
Accountability
, April 12-14, 2016 Nassau, Bahamas
Accountants General, Auditors General, Professional Accountancy Organizations from the CaribbeanShare
experiences about opportunities &
challenges, costs & benefits of regional public financial accounting and reporting reforms
At the Regional Level—Caribbean
L
eadership Event
Examples
Slide18Confederation of Asian Pacific Accountants (CAPA)Public Sector Financial Management CommitteeConferences and Roundtables, including Financial Reform for Economic Development Forum, Malaysiam May 17-18, 2016
Improving Financial Management in the Public Sector—The Eight Key Elements of PFM Success
At the Regional Level—PFM as Strategic Objective
Examples
Slide19… both a public interest OBLIGATION and an OPPORTUNITYFacilitate adoption and implementation
Advocate for transparency and accountability on behalf of citizens
Act as trusted advisor to government
Build capacity to sustain PFM reforms
At the National
Level—Role of Professional Accountancy Organizations
Slide20Public Sector Capacity BuildingUnderstanding the Need—Africa as Example
IFAC Member Bodies
IFAC Associates
PAO established
No PAO
Slide21GHANA
Total number of civil servants
478,566
ICAG
m
embership working in the public sector
1,115
0.2%
Public Sector Capacity Building
Understanding the Need—Africa as Example
IFAC
MEMBERSHIP
Total membership
of
IFAC Members in Africa–Middle East region
126,000
Total membership of IFAC Members in Africa–Middle East region working in the public sector
21,086
17%
UGANDATotal number of civil servants76,939ICPAU membership working in the public sector5170.7%* Statistics as of 2013Uganda National Budget Framework PaperGhana Ministry of Finance – The 2013 Budget Statement and Economic Policy of the Government
Slide22Are you?
ACCOUNTABILITY.
NOW
.
Slide23Visit the Accountability. Now. webpageDownload the Accountability. Now.
brochure
Sign up for the Accountability.
Now. Partner Briefing
Contact Accountability.
Now
. staff with your ideas and suggestions!How to Get Involved?
ACCOUNTABILITY.
NOW
.