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Port Moresby
July 30, 2021
Business News

Department of Finance Host Financial Information Forum

A financial information forum was held today in Port Moresby with various presentations addressing financial management issues as well as reforms undertaken by the government.  

Hosted by the Department of Finance, the forum was attended by officers from most government agencies and development partners.

Acting secretary of the Department of Finance, Dr Ken Ngangan, said the department is in the process of establishing a Government Accounts Association to look into assisting finance managers better equip themselves.

The Department of Finance on occasions provides information to Government Departments and agencies about current financial management issues and reforms undertaken by the government.

One way the Department engages stakeholders on these issues is by hosting regular Finance Information Forums, which have been held since 2006.

It is an avenue to inform the public and other development partners of the measures taken to better manage public funds and resources.

The forum held today saw presentations on the roles of Financial Controllers within Departments and Agencies and also on the financial reporting for National Departments.

There was a session on the Government’s Sovereign Wealth Fund and the First Home Ownership Scheme.

The forum’s other topics included the Australian High Commission presentation on Accessing Donor Technical Assistance in various programs and fields.

Moving forward, the Finance Department signed an MOA with the University of PNG yesterday, to offer a Bachelor in Government (Public Sector) Accounting Program. The first 30 students will start next year, with the hope of having more Public Service practioners to attain a Government Accounting qualification.

The Department is also in the process of establishing a Government Accounts Association, which will look at assisting finance managers better equip themselves in terms of training, capacity building and professional development.

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