Page 3 - Newsletter-June-2018

Governance, Transparency and Service to Members & Students www.icap.org.pk done in participation, or in collaboration with the all of them one by one because those institutions private sector. Although, there have been some have high political infiltration. issues in some countries, but overall the concept of public private partnership is really thriving globally Gillian Fawcett, head of International Affair CIPFA, and also in Pakistan. delivered a vibrant speech on ‘Professionalisation – Developing Public Sector Capacity.’ She emphasised Muhammad Abdul Basir, former additional auditor that good governance and public financial general, in his session on ‘Implementation of management sit at the heart of any government to Integrated Reporting in Public Sector – An Option support economic growth and long-term financial Analysis’ expressed his views that the global push sustainability. Many governments around the towards greater accountability and transparency world are putting a high priority on the reform and in the public sector has prompted entities to improvement of PFM in order to achieve long-term take deliberate steps to improve their financial financial sustainability for public services. But this management systems and reporting practices. cannot be achieved unless there is the capacity in He stressed that things cannot be enforced or the place to do so. She stressed that professionalisation desired impact achieved until there is ownership of a of PFM leads to better outcomes for citizens. The process. For implementation of Integrated Reporting importance of capacity building can be seen in in public sector, he recommended to start a pilot Zimbabwe, where CIPFA and International Federation project and consider its challenges before launching of Accountants (IFAC) are helping the government a full-fledged project and also take users perspective. to improve the capacity to move from cash-based accounting to accruals. Developing PFM capacity In the next session, Sardar Adnan Alam, deputy around the world is at the core of CIPFA’s work. director NAB, presented a paper on ‘Fighting Fraud and Corruption in Public Services.’ He stated that the Syed Asad Ali Shah threw light on ‘Emerging fraud and corruption in public services is a global Technologies Supporting Public Financial phenomena and public resources misappropriated Management.’ He stated that the public sector through such practices indeed hurt the people and environment is complex with the need for innovation the society. Therefore, it is important to understand in technology being a vital component to help drive the corrupt practices/schemes such as cybercrime, improvements in PFM. He discussed that emerging money laundering, bribery and procurement frauds technological innovations and developments are so as to develop tailored responses. Corruption linked to the national economic, social and political represents major hurdle on the road to good environment. governance. He said that the government of Pakistan has taken actions to penalise corruption Akhram El Shorbaji, senior financial management functionaries. Proper rules and laws have been specialist from World Bank, also graced the event. He framed and such laws are manifested to maintain discussed the collaboration between Auditor General check and balance system. office and the profession to improve PFM. His paper was followed by a panel discussion on The Conference was concluded by Abdullah Yousuf, ‘Fighting Fraud and Corruption in Public Services’ former chairman Federal Board of Revenue (FBR) and and the panellists were Asad Umar, member National ICAP Council member, on an appreciative note with Assembly, Nasir Iqbal, director general NAB, Mahfooz the participants looking to the next PFM Conference Ahmed Bhatti, director general Policy AGP, Ammar to enrich their experience. Naqvi, director general Financial Accounting & Budgeting System (FABS) CGA. The session was The entire conference was interactive and the moderated by Rana M. Usman Khan, ICAP Council participants raised pertinent questions to the speakers member and partner Deloitte Pakistan. The panel and panellists. The conference was streamed live via presented thoughts on leveraging international Facebook and was viewed by almost 10000 people. resources to combat corruption and support good governance practices in the country. Asad Umer The presentations and pictures of the Conference are said that Pakistan used to have world class public available at https://www.icap.org.pk/pfmconference/ institutions in the public sector but it will slowly lose presentations.php#pre June 2018 3