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.

Friday, October 9, 2009

Recovery and the Transparency Initiative

ICGFM Sustaining Members, Grant Thornton and the Association of Government Accountants have published a survey of Government CFOs in Canada and the United States.

Recovery and the Transparency Imperative

The survey uncovered eight principles of financial transparency and six levels of "recovery university". Participants ranked the importance of activities necessary to achieve unqualified audits. The survey recommends:
  • Mind the basics of public financial management like budgeting and controls
  • Invest carefully to optimize resources
  • Improve financial reports
  • Increase transparency

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