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Opening remarks by Mr. It is my great pleasure to welcome you, and thank you for participating in this Winter Conference of the International Consortium on Governmental Financial Management. In this endeavor, everyone needs to do their part: governments, the private sector, civil society, and international financial institutions, including the IMF. Posted by Gouhua Hang [1]. With over 15, budget entities in central government, and hundreds of thousands in local government, good government accounting is obviously very important in China.

From a fiscal risk point of view, local government is perhaps the most important, as they have borrowed extensively through informal mechanisms in the past decade, and have started doing so formally on a non-pilot basis through bond issuance at the start of this year. The issuance of these critical documents marks the start of a substantial transformation China is making towards adopting accrual accounting. Posted by Yugo Koshima [1]. They prevent a PFM system from functioning as it is supposed to do, even if the system is designed perfectly.

They may also signal the existence of widespread corruption.

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Posted by Dr. Alberto Asquer [1]. The capacity to understand how public finances are managed is much needed nowadays, with more and more citizens in a growing number of countries demanding greater accountability in the use of public monies. No longer is public financial management PFM only confined to the expertise of accounting professionals. The project was realized in collaboration with FutureLearn, a UK provider of online courses with more than 70 partners around the world. You can visit the course at www.

Posted by Lena de Stigter [1] and Jennifer Moreau [2]. Post Addis Ababa, the debate on development finance focuses in large part on the generation of the necessary additional resources to support the Sustainable Development Goals SDGs. Improving tax systems and compliance is an important element in this regard and strongly supported by the German Development Cooperation agency GIZ.

Public Finance and Financial Management - PhD

Yet, taxation is only one side of the coin. Sound public financial management PFM , especially at the level of sector ministries, should be the other. The generation of savings through more effective and efficient budgeting and expenditure policies in sectors may be as important for countries as resource mobilization through taxes. Moreover, the Collaborative Budget Reform Initiative CABRI , through its sector dialogues , has done important work on highlighting the possible gains of improving value-for-money in program expenditure in key parts of the public sector.

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Sound investment policies and development-oriented public expenditure will enhance trust of citizens in their government and increase their willingness to pay taxes. Moreover, it will have a positive impact on the socio-economic environment of a country and generally, serve as a catalyst for development. Posted by Carlos Pimenta and Mario Pessoa [1]. The volume, which was edited by Carlos Pimenta and Mario Pessoa, is a joint work based on extensive technical assistance provided by both institutions. The areas covered in the book include treasury single accounts, performance indicators for treasury management, financial management information systems, accrual accounting, cash and debt management, public procurement, and cost accounting.

These topics were selected to bridge the gap in the literature about the results achieved in the region. By Richard Hughes [1]. The conference takes place against the backdrop of a surge in public and private investment in infrastructure in developing countries in recent years.

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However, the impact of this latest investment boom on economic and social development will depend crucially on the way in which that investment is managed. Will this time be different? Over the last two decades, almost all countries in Latin America have conducted substantive reforms to strengthen their public financial management PFM systems and generate reliable information in an effort to promote fiscal stability and sustainable development.

These reforms have enhanced the quality of macro-fiscal management in the region and improved economic performance observed throughout the s. As the recent economic crisis demonstrated, however, there is room for further improvement, as well as a need to increase the resilience of the PFM systems. Posted by Andrew Bauer and David Mihalyi [1]. Headlines about resource-rich economies faltering under crashing world commodity prices fill the news. Crude oil prices have dropped nearly 50 percent since June The resulting loss in fiscal revenues in resource-dependent countries has exposed severe vulnerabilities in some.

The paper showed that the average country was losing around one-third of the potential benefits from their public investment to inefficiencies in the way in which those investments are managed. Gupta went onto explain that if government want to realize the full economic and social benefits from public investments, they have to improve the way in which those investments are managed. To help countries evaluate the strength of the public investment management practices and identify priorities for reform, Mr.

Topics | Public Finance

The PIMA evaluates 15 institutions that shape public investment decision-making at the three key stages:. Posted by Tim Irwin [1]. For one thing, there are many similarities in the accounting problems faced by firms and governments, even if there are also crucial differences in their objectives, their functions, and their influence on the economies in which they are located.

Moreover, Nobes offers a succinct and persuasive explanation of why private-sector accounting developed as it did, in response to the changing needs of businesses and their investors e. That explanation may prompt thoughts about how government accounting should develop. He writes pp. Nobes also presents interesting data on the number of members of each of several national accounting bodies pp. Nevertheless, the differences are striking.

If they reflect differences in the influence of accountants in each country, they may help explain why the Australian and New Zealand governments were among the first to adopt private-sector-like accounting, while the German government has shown little interest in doing so. The initial appointment term would be for a period of one year, on a renewable basis, subject to satisfactory performance. Continue reading " Job Offer! Posted by Tomoaki Tanaka [1]. Out of this budget, billion yen was disbursed on technical cooperation TC , the remainder on overseas development loans and grants.

JICA is represented in over countries and regions, and has more than overseas offices. If such systems are not in place, the flow and control of financing for key development projects may be jeopardized. Applicants should hold a university degree or equivalent qualification relevant to the above duties; possess excellent written and oral communication skills in English; have well developed analytical and research skills; be proficient in standard office IT applications such as Word, PowerPoint, and Excel , and have experience in project management.

Applicants should also possess excellent interpersonal skills, be self-motivating and have an ability to work as part of a team, an aptitude for establishing cooperative relations and sharing technical knowledge with national authorities, as well as capacity to handle sensitive issues with discretion. A flexible and adaptable approach will also be essential in what is a fast moving and challenging work environment.

Preference will be given to candidates with at least ten years of relevant experience, including in a senior or advisory position within a ministry of finance, treasury, or related institution, who have managed or participated in the delivery of TA programs in the above PFM areas. The IMF is committed to achieving a diverse staff, including gender, nationality, culture and educational background. Posted by Andrew Bauer [1].

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  7. Developing, capital-scarce countries need domestic investment. Governments in countries such as Angola, Mongolia, and Timor-Leste must invest in education, health and public infrastructure if they hope to achieve middle- or high-income status.

    PhD defense: Development of public sector and accounting issues in Hong Kong

    On this nearly everyone can agree. Nearly every country with significant oil, gas or mineral exports operates a SWF. Are you enthusiastic about improving the effectiveness of public financial management?

    Do you want to contribute to better public sector management and performance? Are you keen to stimulate public sector reform? You can see more details about who we are looking for here. The PEFA program aims to strengthen public financial management and accountability systems and improve knowledge of the quality and scope for improving public financial management performance. The program seeks to achieve this aim through the application of PEFA assessment methodology, performance reports, research, analysis and application of PEFA results. The PEFA methodology is in over countries.

    It also provides global support to users of the PEFA methodology through advice, guidance, training, research and information. About the job vacancies. The right person for this position will be part of the leadership team in the Secretariat. They will manage and deliver on core activities, including:. They will have relevant post-graduate qualifications and demonstrate significant achievements as a leader and manager.

    PFMx: Public Financial Management - IMFx on edX

    They will have strong inter-personal skills and demonstrated ability to speak and write effectively in English. Applications for Senior Advisor are to be made through the World Bank job center.