ICGFM Promotes Knowledge Transfer Among Public Financial Management Experts

Working globally with governments, organizations, and individuals, the International Consortium on Governmental Financial Management is dedicated to improving financial management by providing opportunities for professional development and information exchange.

Tuesday, April 7, 2009

ICGFM Announces New Managing Director

ICGFM is pleased to announce the appointment of Patricia E. Cornish as the Consortium’s new Managing Director. Ms. Cornish will begin her duties on April 16, 2009.

Ms. Cornish, who is Founder, President and CEO of PEC Financial Consulting, has over 30 years of leadership experience as a top performing senior executive with a strong background and proven experience in business, management, finance and communications. Her 25 years of experience in public accounting includes a full range of accounting and financial management skills including business management of financial operations, preparation of financial statements, budget comparisons, audits, and a wide range of consulting on financial matters.

Ms. Cornish formerly worked for the Business and Professional Women/USA and the Business and Professional Women’s Foundation. The Foundation’s mission is to transform workplaces by focusing on issues that impact working women, families and employers. Ms. Cornish was instrumental is leading an operational turnaround, which led to increased revenues and members in the organization.

Ms. Cornish will be working with Nina Powell, ICGFM’s current Executive Director, who has announced her desire to transition out of the Executive Director duties. ICGFM is excited about the opportunity for our new Managing Director to be able to take advantage of Ms. Powell’s extensive knowledge and leadership in guiding ICGFM to be the leader in bringing together diverse governmental entities, organizations (including universities, firms, and other professional associations) to serve as a unique forum for the discussion of international governmental financial management issues.

Monday, April 6, 2009

An In-Depth Look at PFM Reform in Vietnam

Public Financial and Civil Service Reform in Vietnam: Great Strides Made
April 1, 2009

The April ICGFM DC Forum presented intriguing analysis of reform in the government of Vietnam. Guest speaker Dr. Clay Wescott, Director of the Asian-Pacific Governance Institute and Visiting Lecturer at the Woodrow Wilson School described "evidence based public administration reform".

Dr. Wescott and two graduate students completed a comprehensive on site study of the Government of Vietnam Financial, and Human Resource infrastructure. This was done through interviews contrasted with historical facts and statistics. The analysis suggests that the country has seen remarkable improvement in public sector reform as compared with neighbouring and competing countries.

Vietnam has become leading competitor in the global market. The strategy for expedited growth began in 2001. This growth has been attributed to various factors especially the improvement in tax revenue implementation, expenditure reform and public financial management.

There are ample investment opportunities in Vietnam. The presenters cautioned that there is a lack of transparency and concerns about public agency corruption.
Civil service reform in Vietnam requires capacity building and retention. The growth in the private sector has provided more opportunities outside government. Improved capacity building will enable improvement in public financial management. Compensation strategies are needed to improve retention of talented civil servants.

The team recommends improved training and transparency. Transparency can be improved through a more independent financial watchdog with strong powers.