Forum on Strengthening Public Sector in Africa Underway

A public financial management forum aimed at strengthening public sector accounting in Africa is underway in Addis Ababa.

Opening the session, African Union Deputy Chairperson Kwesi Quartey said the forum enhances the pioneering role of the Union in the implementation of International Public Sector Accounting Standards (IPSAS) and public sector accounting for inclusive growth and sustainable development in the continent.

He stated that creating strong public financial management and public sector accounting through implementing IPSAS improve quality and comparability financial statements as well as promote transparency, accountability and good governance in the continent.

State Minister of Finance, Admasu Nebebe said the Government of Ethiopia has recognized that strengthening public sector financial management is pivotal to enhance public investment efficiency and increasing operational performance, transparency and good governance of state-owned enterprises.

He added that the government will further consolidate public sector accounting in collaboration with national and international professional associations.

According to him, sound public financial system is important for macroeconomic stability, effective use of available resources and promotes inclusive growth through pro-poor investments with preventing corruption and enhancing accountability and transparency.

The forum expected to produce concrete recommendations to accelerate public finance reform in the region, he pointed out.

More than 200 participants representing member states and international institutions, auditor generals and other professionals are in attendance of the three-day forum, according to ENA.