Improving financial management
Articles on improving financial management in the public sector
A major consultation on international public financial management (PFM) has been launched by CIPFA. The paper, Public financial management (PFM) and the PFM international architecture - a whole system approach, stresses the importance of PFM for both developing and developed economies.
The paper is relevant to the public sector in the UK and elsewhere in Europe for donors who want to support and develop local financial management skills by using existing in-country government financial systems wherever possible. The use of these existing systems - combined with effective monitoring - is seen as a more effective long-term development strategy than the building of alternative financial conduits.