Budget Secretary Florencio B. Abad said the release of the P600 million will fund the implementation of the Government Integrated Financial Management Information System (GIFMIS) that seeks to integrate all public management processes to push the transparency and accountability agenda of the government.
He said the GIFMIS is a Web application that links the government’s financial processes together and facilitate their automated management.
The processes covered by the GIFMIS system include accounting, cash management, reporting and auditing-all under the functions of the DBM—Commission on Audit and the Department of Finance’s Bureau of Treasury the (BTr).
Abad said the DBM leads the agencies in implementing the GIFMIS, which is part of the Aquino administration’s priority reform projects to address corruption through transparency and accountability.
“Because it’s Web-based and updated in real time, all data in the system are easily tracked to ensure the integrity of our public financial management processes. Even better is the fact that GIFMIS will vastly improve the efficiency of our fiscal operations. When budgeting, accounting and auditing are accomplished faster, we’re also in a position to serve the citizens better,” Abad said.
The P600 million comes from the E-Government Fund that supports IT and communications technology projects to improve public financial management initiatives.
Budget Undersecretary Richard Moya said “The whole system, once in place, will embed financial transparency in the day to day operation of the government.”
He said the initiative will be a major instrument in good governance measures in the public financial management.
Our drive to ensure transparency and accountability in financial processes will depend largely on our ability to come up with a seamlessly integrated IT system. It’s an urgent governance requirement that we’re quickly addressing head-on,” said Moya.
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Autor(en)/Author(s): Estrella Torres
Quelle/Source: Business Mirror, 20.03.2014
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