IFMS implementation – halfway there!

The Integrated Financial Management System (IFMS) is a major part of the Financial Management Improvement Program (FMIP) and a core component of the reforms to the Public Financial Management.  

Finance Framework Review – the team behind the scenes

2016 has been a very productive year for the Department of Finance in delivering tangible results to improve the public financial management system and build robust, transparent and good governance practices to manage public money and public resources for the nation.

PEFA Road Map launch

In September 2015 the PEFA PFM Reform Road Map 2015-2018 was launched.  This document is the result of one and a half years of detailed examination and analysis into public financial management. 

New Professional Association for government accounting staff

Public accountants and related practitioners will now have their own dedicated professional association.  The Department of Finance has led the establishment of a registered association, the Papua New Guinea Association of Government Accountants & Public Finance Managers (PNG AGA & PFM). 

Young Leaders Network (YLN)

The Young Leaders Network is an initiative to bring together junior staff to encourage and nurture their professional development.  The group was formed in 2015 and comprises 12 members.  2016 has been a busy year for the group with many activities.

Department of Finance, Canberra, professional career development program

The Papua New Guinea and Australian Departments of Finance signed a Memorandum of Understanding in 2014 to work more closely and cooperatively in sharing knowledge and building policy and operational skills.  As a result in 2015 two officers from the Department had the opportunity to join the annual Department of Finance Australia graduate program.

National fees and charges revised

Many fees and charges to the general public across the nation have not been revised for many years.  The Department of Finance worked with other government agencies to review fees and charges and bring them up to date.  An Act (Section 209 and 210 of the Constitution and Section 5 and 7 of the Public Finance (Management) Act 1995) was passed on 1 January 2015. 

Public Finances Management Act (PFMA)

The PFMA was passed unanimously by Parliament on 11 August.  We are expecting certification very soon and staff are working on updating the Financial Management Manual to reflect the improvements.  These amendments are a result of the extensive work which resulted in the PEFA Reform Road Map 2015-2018 released in September 2015. 

Department of Finance in the spotlight at international PEFA Conference

The Secretary presented the Department’s work at the annual international PEFA (Public Expenditure and Financial Accountability) conference 26-29 April held in Hungary.  This year’s conference, PEFA: PAST, PRESENT AND FUTURE, provided an overview of the experience and achievements of the PEFA program over the past decade, explained the PEFA 2016 Framework and discussed future opportunities to increase the PEFA program’s contribution to PFM reform.