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The Social Future of Public Financial Management

 

April 30, 2012

Power of Prediction?

Doug Hadden, VP Products

Public Financial Management is becoming increasingly social, mobile and transparent. That was the subject for my presentation at the 26th Annual International Consortium on Governmental Financial Management (ICGFM) Spring Conference today.

The [social] future of public financial management
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The conference theme is “PFM in the 21st Century”. There is discussion of innovation, standards (COSO, IPSAS, MTEF) and diagnostics (PEFA). We look forward to sharing some of the lessons learned from countries like Namibia, Cambodia, India, Jordan, Peru, Nepal and Korea as the conference progresses.

My view is that the next generation of Public Financial Management will see more emphasis on transparency and open government (procurement, budgets, civil service spending, audit etc.) There will be increasing collaboration with citizens and civil society – technology-enabled participatory budgeting will become the norm. And, this engagement will become increasingly mobile through supporting tablets, smartphones and SMS.

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Doug Hadden

Doug Hadden

Executive Vice President, Innovation at FreeBalance
Doug is responsible for identifying new global markets, new technologies and trends, and new and enhanced internal processes. Doug leads a cross-functional international team that is responsible for developing product prototypes and innovative go-to-market strategies.

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