Public money for the public good

The role of professional accountants is fundamentally about creating trust. Trust that numbers are correctly stated and that a true and fair account is given, showing what money has been raised and how it has been used.

For the government this bond of trust is especially important. The public must trust that monies paid over in taxes and other public assets are used for the public good. 

Government activities account for nearly half of the global economy, so effective public financial management is a crucial, yet all too often overlooked, condition for building a successful economy.

In a diverse world there can never be a single approach to public financial management, however we believe there are some universal principles and factors which underpin the creation of trust anywhere in the world. Our latest report provides an overview of those factors, both cultural and technical, illustrated by case studies showing how different countries have taken practical steps to build trust in the management of public money. 

We trust that this report will contribute to the important goal of building a world of strong economies.  A world where public finances are well managed, and where public servants are held to the highest standards.

https://www.icaew.com/en/about-icaew/act-in-the-public-interest/policy/public-sector-finances/public-money-for-the-public-good

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