Main Session of ICGFM PFM Conference Comes to an End

The main session of the 24th. ICGFM International Conference: Public Financial Management in the Era of the "New Normal" came to an end this afternoon in Miami Florida. ICGFM President, James Ebbitt closed the main session. Detailed workshop sessions begin on Thursday.

Conference co-chair, David Nummy reflected on the changes because of the financial crisis. He observed that many countries that were considered the most stable have been more adversely affected by the crisis. Transparency and accountability demand has increased thanks to the crisis as the public questions how countries got into the crisis and how stimulus money is being spent.

Public financial managers are becoming more important. PFM managers are increasing their role in government. It is a robust and important profession according to Mr. Nummy.

Mr. Nummy suggested that XBRL adoption is reaching critical mass. XBRL promises to improve efficiencies and transparency.