Mastering finance in governmentTransforming the government enterprise through better financial management |
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This survey of senior government officials representing more than 200 government organizations from 28 countries around the world makes up one of the largest global data sets on financial transformation in the public sector and provides an unprecedented look at the world of government finance. According to the survey's results, 48 percent of public officials believe that their organizations lack adequate financial management capabilities. Lack of information masks the actual financial health of government agencies and increases risk.
Taken as a whole, the survey tells us that government finance officials must surmount a number of significant, but attainable, hurdles to reach a maturity level that would justify their place at the executive decision-making table.
Other key findings of the report include:
- In too many cases, the public finance function fails to adequately meet the needs of the larger enterprise, despite significant progress over the past decade in streamlining transactional efficiency.
- Compliance and risk capabilities remain inadequate in many public organizations.
- There is an increasing need for financing transformation in the governments, which is critical for improving performance.
- Finance Masters are moving beyond simple adherence to mandates to discover the true potential of financial transformation.
To learn more, view or download the full survey report below.
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Mastering finance in government
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