While much of the blame for the global financial crisis and the consequent sovereign debt crisis has been laid at the door of the banking sector, too little attention has been paid to the contribution of deficient accounting, auditing and financial management practices by governments both large and small.
Since the crisis, financial regulations the world over are being revised to ensure banks are more transparent and better able to deal with financial shocks. However there has been no corresponding drive to better manage government balance sheets for the long term, not least because very few Governments would be able report on anything other than a cash basis.
This demonstrates just how urgently the quality of financial management in governments around the world needs sustained and well-designed reform, including those Governments who have moved to adopt the accrual basis of reporting.
To address these issues CIPFA is delighted to be hosting its first ever International Seminar. This seminar will highlight the importance of sound public financial management and reporting in developing robust, transparent government accounting practice, in the public interest. And consider how the accountancy profession can play a role in addressing the quality of public sector financial management.
The seminar will include contributes from global experts, highlighting relevant examples and initiatives which promote effective and efficient management of public finances.
Speakers at the seminar include:
- Fayezul Choudhury, Chief Executive Officer, International Federation of Accountants.
- Paul Kazarian, Founder, Chairman and CEO, Japonica Partners.
- Olivier Boutellis-Taft, Chief Executive, Federation of European Accountants.
- Ian Ball, Chair, CIPFA International.
- Mark Lowcock, Permanent Secretary for the UK Department for International Development.
- Fred Moore, Chief Executive Officer, The Institute of Chartered Accountants of Ghana.
- Chidi Ajaegbu, Past-President, The Institute of Chartered Accountants of Nigeria.