ICGFM Survey & results - Levergood

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Presentation at ICGFM conference, May 2011

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  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • Jason Levergood
  • ICGFM Survey & results - Levergood

    1. 1. Global Financial Management Leaders: Responses to an Economically Challenging WorldJason LevergoodGrant Thornton LLPInternational Consortium on Governmental Financial Management Annual Conference, Miami, FLMay 17, 2011 – Key Biscayne Marriot Hotel<br />
    2. 2. Agenda<br />About the 2011 survey<br />Impact of the crisis<br />Investment in infrastructure<br />Increasing transparency<br />2012 ICGFM survey<br />2<br />
    3. 3. About the ICGFM survey<br />Sponsored by ICGFM, conducted by Grant Thornton<br />Survey methodology<br />Anonymity<br />Purpose: Examine impact and responses to economic upheaval and gain ideas for improving financial management <br />3<br />
    4. 4. Impact of the global financial crisis<br />Impact<br />Stimulus programs<br />4<br />
    5. 5. Impact of the global financial crisis<br />5<br />
    6. 6. Impact of the global financial crisis – Stimulus programs<br />6<br />
    7. 7. Impact of the global financial crisis – Stimulus programs<br />7<br />
    8. 8. Impact of the global financial crisis – Stimulus programs<br />8<br />
    9. 9. Investment in infrastructure<br />Attracting outside investment<br />Public private partnerships<br />9<br />
    10. 10. Investment in infrastructure – Attracting outside investment<br />10<br />
    11. 11. Investment in infrastructure – Attracting outside investment<br />11<br />
    12. 12. Investment in infrastructure – Public private partnerships<br />12<br />
    13. 13. Investment in infrastructure – Public private partnerships<br />13<br />
    14. 14. Investment in infrastructure – Public private partnerships<br />14<br />
    15. 15. Increasing transparency<br />XBRL and financial management<br />15<br />
    16. 16. Increasing transparency<br />16<br />
    17. 17. Increasing transparency<br />17<br />
    18. 18. Increasing transparency<br />18<br />
    19. 19. Increasing transparency – XBRL and financial management<br />19<br />
    20. 20. Increasing transparency – XBRL and financial management<br />20<br />
    21. 21. Conclusions<br />All countries have been affected by the global financial crisis<br />Economic growth, currency values and export revenue <br />More than 60% of our respondents adopted stimulus programs <br />Over half believed stimulus programs to be positive<br />Benchmarks for phasing out economic recovery programs included improvement in economic growth, general employment and limit to debt capacity<br />Increase in spending on infrastructure was given as the number one area of focus for increased investment<br />Education / Transportation / Healthcare<br />Combating the impact of the crisis resulted in an adoption of extraordinary polices<br />More than 75% of all respondents spoke of a new commitment to increased transparency<br />Adoption of new standards included IAS and IPSAS<br />21<br />
    22. 22. 2012 Global Financial Management Leaders Survey<br />Tools of PFM Accountability<br />Importance and barriers<br />Standards<br />Social media<br />Accountability in action<br />media; parliament; public auditors <br />Survey conducted all week<br />Thank you in advance for participation!<br />
    23. 23. Thank you<br />23<br />
    24. 24. Contact<br />Jason LevergoodGrant Thornton LLPGlobal Public Sector333 John Carlyle Street, Suite 500Alexandria, VA 22314 <br />P 703.637.3006E Jason.Levergood@gt.com<br />24<br />
    25. 25. Has the global financial crisis had an impact on your country?<br />Yes<br />No<br />Do not know/does not apply<br />
    26. 26. Has your country initiated a stimulus program?<br />Yes<br />No<br />Do not know/does not apply<br />
    27. 27. Rate the success of your country's stimulus program.<br />Very successful<br />Successful<br />No effect<br />Not successful<br />
    28. 28. What are the key indicators that will activate the need to unwind or end your country's stimulus program? <br />GDP Growth<br />Lower unemployment<br />Improved debt capacity<br />Inflation<br />Interest rates<br />Political climate<br />
    29. 29. Which areas of Infrastructure present the most critical need for investment?<br />Education<br />Transportation<br />Healthcare<br />Energy/Renewables<br />Information Technology<br />Housing<br />Water<br />Waste treatment<br />Defense<br />Prisons<br />
    30. 30. What are your areas of focus to increase outside investment?<br />Improve necessary infrastructure<br />Improve legal system<br />Greater transparency<br />Tax incentives<br />Currency Reforms<br />
    31. 31. Has your country used public private partnerships (PPPs) to find sustainable funding for infrastructure investments?<br />Yes<br />No<br />Do not know/does not apply<br />
    32. 32. Please rate the success of your country's PPPs.<br />Successful<br />No effect<br />Not very successful<br />
    33. 33. Why has your country not used PPPs?<br />Lack of policy and guidance<br />Lack of PPP unit to coordinate efforts on the ground<br />Political circumstances<br />Lack of interest from investors or operators<br />
    34. 34. Has your country made or renewed a strong commitment to improve public financial management transparency for your citizens?<br />Yes<br />No<br />Do not know/does not apply<br />
    35. 35. Has your country adopted new international standards to improve public financial management governance and transparency?<br />Yes<br />No<br />Do not know/does not apply<br />
    36. 36. Which new international standards has your country adopted?<br />International Auditing Standards<br />International Public Sector Accounting Standards<br />Government Financial Standards/Compliant Chart of Accounts<br />
    37. 37. Has your country adopted eXtensible Business Reporting Language (XBRL) to enhance transparency and public access to data?<br />Yes<br />No<br />Do not know/does not apply<br />
    38. 38. Are there plans to adopt XBRL in the future?<br />Yes<br />No<br />Do not know/does not apply<br />

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