Magazine article Public Finance

Changing Times

Magazine article Public Finance

Changing Times

Article excerpt

This commemorative Public Finance supplement explores 125 years of the Chartered Institute of Public Finance and Accountancy. As well as providing a fascinating look into the institute's rich past, it considers our present day dilemmas and points to a challenging but positive future for the public financial management profession.

My task is to reflect on the continuing value of the institute - to its members, employers and the public. In doing so, I'd like to refer to the words of Maurice Stonefrost, our distinguished past president and former secretary. In 1 985, the institute's centenary year, he wrote: 'The 1 00 years of the institute's life have coincided with the most dramatic social and scientific change to the lifestyle of both individuals and societies in our history.'

The past 25 years have overtaken that 1 00 years in terms of pace of change in many aspects. Globalisation has transformed our society. Thanks to computers and the internet, we all now live in a rapidly changing and interconnected world. …

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