The role of accountancy profession in improving trust in public financesMichael Armstrong (FCA), ICAEW Regional Director for the Middle East, Africa and South Asia. Finance professionals working both locally and internationally are able to place the same amount of scrutiny on public sector finances as they do on private sector finances since they are essentially using the same data sets and tools, which in turn boosts the credibility of the public sector. SEE ALSO :How to improve feedback during appraisals and assessmentsSound public finances are a key indicator of considered government policies which lay emphasis on proper handling of such funds. This comprehensive picture of public finances allows policymakers to take better informed spending decisions. Next to the financial statements, the Treasury prepares a snapshot of the annual financial statements of the government, which is a high-level presentation of key facts and figures for the financial year, intended to make the financial statements more user-friendly and accessible.

Source: Standard Digital January 01, 2020 06:45 UTC