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Remastering Financial Functions

Whether it's rising entitlement, health care, pension or infrastructure costs, governments are under pressure to make resources go further. Unfortunately, 48 percent of government leaders don't...
by | July 6, 2008

Whether it's rising entitlement, health care, pension or infrastructure costs, governments are under pressure to make resources go further. Unfortunately, 48 percent of government leaders don't believe they can provide effective, efficient services because of inadequate financial-management capabilities, according to a Deloitte survey of senior government officials. The report, Mastering Finance in Government: Transforming the Government Enterprise through Better Financial Management , found significant gaps between current finance capabilities and government needs. It found that more than half of those surveyed feel their organizations are failing to perform key tasks required to ensure accountability, such as adequate auditing, and 68 percent cited the lack of current data as a barrier to improving the performance of their organizations. The solution, according to the report, is using financial data as a tool to help manage and inform decision-making, and it explores how to make this transformation happen. The study surveyed senior government officials in more than 200 government departments from 28 countries around the world.

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