Message from President, ICAP

There is an increasing focus on improving the quality of Public Financial Management (PFM) around the globe, with many countries in both the developed and developing world making important and impressive achievements in strengthening PFM and governance.
The public sector landscape is rapidly changing with an increasing emphasis on fiscal management and discipline, prioritisation of expenditure and value for money. As a result, it is more important that international donors, governments, national and local institutions, work together in partnership to achieve long-lasting improvements, transparency and accountability in public financial management.
Strong public financial management (PFM) systems are essential for effective and sustainable economic management and public service delivery. States are effective and accountable when they are underpinned by good PFM institutions and systems. Good PFM systems are also indispensable in ensuring that public funds are being used to achieve development goals.
Public Financial Management (PFM) in Pakistan has achieved some key milestones over the years; most significant amongst them is development of a centralised and advanced financial reporting system with the support of World Bank through the Pakistan Improving Financial Reporting and Audit Project. A sound foundation of PFM has indeed been laid, but to end poverty and achieve shared prosperity, PFM has to find a renewed role for itself, that of helping the country sail through turbulent macroeconomic environment, get the maximum out of limited available resources, and enhance investors' confidence.
The Institute of Chartered Accountants of Pakistan always provides ways to public finance managers to find the renewed role to emerge as strong contributors to the achievement of national goals. It is fully cognisant of the need of good governance especially in the public sector and is always on a quest to find ways to support the government through various platforms, one such initiative is Public Financial Management Conference, 2014.
ICAP is committed to working in partnership with governments, accountancy bodies, and regulators to help improve PFM in developing and emerging economies. ICAP pledges to continue supporting and promoting the PFM initiatives was strengthen a transparent and accountable system of governance in Pakistan.
I would like to say that this conference, being sponsored by Auditor General of Pakistan (AGP) in collaboration with Pakistan Institute of Public Finance Accountants (PIPFA) and The Chartered Institute of Public Finance and Accountancy (CIPFA) will not only focus on the ways to bring active PFM restructurings for governance in Pakistan but also help to improve government procedures for the improvement of public financial management. I wish PIPFA great success in its conference and in the years to come.