Magazine article Public Finance


Magazine article Public Finance


Article excerpt


There's a way - but no will

As someone who has spent most of the past 30 years trying to improve financial management in developing countries, I read Ian Ball's article with interest ('Global warning', PF January, CIPFA I2S Supplement).

The two major obstacles to improved public sector financial management are nepotism and corruption. Many countries change their entire senior public service management when the governing party changes.

Thus, one can spend two or three years training staff only to find them replaced immediately after an election.

Obviously, if you owe your posinoli to the governing party, you are unlikely to be to concerned with the niceties of international reporting standards.

The ability to have sound budget formation, financial control and good quality reports is there and if countries had wanted to introduce them they could have done so by now.

But many do not want open, transparent finances as it reduces the opportunities of diverting large sums of public money into private bank accounts. …

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