ICPAU wants govt to increase on budget allocations to facilitate PFM

By Ben Musanje

18^th April 2023

The Institute of Certified Public Accountants of Uganda (ICPAU) has proposed to the government to enhance budget allocations to improve the infrastructure which are drivers of the Public Finance Management (PFM).

According to ICPAU, the world’s fastest growing economies have placed PFM at the forefront with substantial investment in Education, Health and Information Communication Technology infrastructure to improve the management of information, foster integration of systems, enhance transparency and eliminate fraud.

CPA Constant Othieno Mayende, the President of ICPAU while delivering his speech at the First three days PFM conference at Entebbe says the Institute is committed at providing support to the Government towards the effective establishment of Public Finance Management reforms in the country.

Mayende says the government should also continue to support public servants to build capacity through training not only in finance and accounting areas but also in ICT so that they are able to apply the new technologies.

However, Mayende emphasizes that the ongoing PFM conference which is held under the theme, “Strengthening the Public Finance Management or Sustainable Development” seeks to bring together public sector players to share experience and re-empower each other to tackle the challenges affecting optimal utilization of public resources.

The PFM three-day conference targets accounting officers, policymakers, planners, economists, auditors, accounting and finance professionals, development partners, civil society actors, Members of Parliament, PFM Consultants, and members of the public.

Meanwhile, Mayende hailed the Integrated Financial Management System, a digitalized management approach that replaced all stand-alone financial management systems in local governments and government ministries, departments, and agencies.