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How to Improve the Governance model for the Public Sector (Government).pptx

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HOW TO FIX
THE
GOVERNANC
E MODEL
FOR
GOVERNMEN
T
Paul Young CPA CGA
Senior CSM – Data and AI and Business
Strategist
August 31, 2023
PAUL YOUNG CGA CPA
SENIOR CUSTOMER SUCCESS
MANAGER AND BUSINESS
STRATEGIST – DATA AND AI
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – ESG and Sustainability Reporting and
Policy Development
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email:
paul_young_cga@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-
young-055632b/
AGENDA
What is the Fiscal Management Cycle
What is governance?
What factors impact governance?
How can performance audits help with governance?
How to improve data ethics?
How to improve data literacy?
How to mitigate risk from geopolitical events?
Public sector is no island
Infused AI and Audit Management
Reporting Challenges
ESG reporting
AI Governance
Importance of GAP Analysis
Importance of Integrated Planning and Reporting
PRESENTATION TITLE 5/30/201 3
WHAT IS THE FISCAL MANAGEMENT
CYCLE
PRESENTATION TITLE 2/11/20XX 4
What is financial management cycle process?
The Financial Management Cycle includes four phases that are essential for the overall
evaluation of the financial management of any firm. The four phases are Planning,
Budgeting, Managing Operations, and Annual Reporting.
FEDERAL GOVERNMENT – CANADA (FISCAL
MONITOR)
PRESENTATION TITLE 2/11/20XX 5
Source – Government of Canada
TAXATION / FEDERAL
PRESENTATION TITLE 2/11/20XX 6
Ad

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How to Improve the Governance model for the Public Sector (Government).pptx

  • 1. HOW TO FIX THE GOVERNANC E MODEL FOR GOVERNMEN T Paul Young CPA CGA Senior CSM – Data and AI and Business Strategist August 31, 2023
  • 2. PAUL YOUNG CGA CPA SENIOR CUSTOMER SUCCESS MANAGER AND BUSINESS STRATEGIST – DATA AND AI • CPA, CGA (1996) • Academia (PF1, FA4, FN2, MU1. and MS2) • SME – Customer Success Management • SME – Risk Management • SME – ESG and Sustainability Reporting and Policy Development • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Emerging Technology • SME – Business Process Change • SME – Financial Solutions • SME – Macro/Micro Indicators • SME – Supply Chain Management • SME – Data, AI, Security, and Platform • SME – Internal Controls and Auditing Contact information email: paul_young_cga@outlook.com LinkedIn: https://www.linkedin.com/in/paul- young-055632b/
  • 3. AGENDA What is the Fiscal Management Cycle What is governance? What factors impact governance? How can performance audits help with governance? How to improve data ethics? How to improve data literacy? How to mitigate risk from geopolitical events? Public sector is no island Infused AI and Audit Management Reporting Challenges ESG reporting AI Governance Importance of GAP Analysis Importance of Integrated Planning and Reporting PRESENTATION TITLE 5/30/201 3
  • 4. WHAT IS THE FISCAL MANAGEMENT CYCLE PRESENTATION TITLE 2/11/20XX 4 What is financial management cycle process? The Financial Management Cycle includes four phases that are essential for the overall evaluation of the financial management of any firm. The four phases are Planning, Budgeting, Managing Operations, and Annual Reporting.
  • 5. FEDERAL GOVERNMENT – CANADA (FISCAL MONITOR) PRESENTATION TITLE 2/11/20XX 5 Source – Government of Canada
  • 8. KEY FINANCIAL STATS – ALL LEVELS OF GOVERNMENT PRESENTATION TITLE 2/11/20XX 8
  • 9. KEY FINANCIAL STATS – ALL LEVELS OF GOVERNMENT PRESENTATION TITLE 2/11/20XX 9
  • 11. THE UNITED STATES FISCAL CYCLE PRESENTATION TITLE 2/11/20XX 11
  • 12. WHAT IS GOVERNANCE Source: https://www.caaf-fcar.ca/en/oversight-concepts-and-context/what-is-oversight-and-how- does-it-relate-to-governance/what-is-governance PRESENTATION TITLE 5/30/2021 12 While governance includes oversight, it is a broader concept. Governance refers to the structures, systems, and practices an organization has in place to: • assign decision-making authorities, define how decisions are to be made, and establish the organization’s strategic direction; • oversee the delivery of its services; the implementation of its policies, plans, programs, and projects; and the monitoring and mitigation of its key risks; and • report on its performance in achieving intended results and use performance information to drive ongoing improvements and corrective actions.
  • 13. FACTORS THAT IMPACT GOVERNANCE • Ability of ombudsman, commissioner, auditor-general, and other key members of government to work free of partisan appointment • Government ability to provide open, transparent, and accountable reporting through financial statements, fiscal management cycle, and performance and operational audits • Ability of committees to work free of partisan politics as part of reviewing laws or spending bills or other areas of government. • Ability of government to make key appointments without partisan politics • Ability of government to digitalize its government through use of technology as part of focusing on the tax fairness and the delivery of program spending with value for money. PRESENTATION TITLE 5/30/2021 13
  • 14. HOW CAN PERFORMANCE AUDITS HELP IMPROVE THE GOVERNANCE MODEL • All levels of government provide key performance reporting in areas like accounting standards - https://www.bdo.ca/en-ca/services/assurance-and-accounting/a-a-knowledge-centre/psas/ • All levels of government providing key performance measurements through SORP Reporting - https://www.frascanada.ca/en/psab/about/due-process/what-are-sorps • Mandatory emergency and crisis management reporting including annual audit review by external and internal auditors – https://www.slideshare.net/paulyoungcga/how-to-better-management-future-variants- and-diseases-through-better-crisis-and-risk-manatgement • Use of data and AI as part of automation of various audit programs - https://www.slideshare.net/paulyoungcga/business-analytics-and-audit-analyticspptx • Various ombudsman, commissioner, and other groups reporting into committee and the house. • Monthly updates of the fiscal management results including key areas like taxation and program spending. This should include key targets, i.e., outcomes and results (Planned vs Actual) PRESENTATION TITLE 5/30/2021 14
  • 15. HOW TO IMPROVE DATA ETHICS Data ethics Data ethics is a branch of ethics that evaluates data practices—collecting, generating, analyzing and disseminating data, both structured and unstructured—that have the potential to adversely impact people and society. It includes addressing and recommending concepts of right and wrong conduct, with transparency in and defensibility of actions and decisions driven by automated/artificial intelligence (AI) in relation to data in general and personal data in particular. Source - https://www.turing.ac.uk/research/publications/what-data-ethics or https://www.cognizant.com/glossary/data-ethics Global Standard / Data Ethics: EUGDPR - https://edps.europa.eu/data-protection/our-work/subjects/general-data-protection-regulation_en Data Governance - https://www.datanami.com/2021/01/21/governance-privacy-and-ethics-at-the-forefront-of-data-in- 2021/ PRESENTATION TITLE 5/30/2021 15
  • 16. HOW TO IMPROVE DATA LITERACY Blog – How improve data literacy for both the public and private sector? What is data literacy? That’s essentially how a data-driven business functions when there is no data literacy. If no one outside the department understands what is being said, it does not matter if data and analytics offers immense business value and is a required component of digital business. By 2020, 50% of organizations will lack sufficient AI and data literacy skills to achieve business value. “The prevalence of data and analytics capabilities, including artificial intelligence, requires creators and consumers to ‘speak data’ as a common language,” says Valerie Logan, Senior Director Analyst, Gartner. “Data and analytics leaders must champion workforce data literacy as an enabler of digital business and treat information as a second language.” As data and analytics becomes a core part of digital business and data becomes an organizational asset, employees must have at least a basic ability to communicate and understand conversations about data. In short, the ability to “speak data” will become an integral aspect of most day-to-day jobs. https://www.gartner.com/smarterwithgartner/a-data-and-analytics-leaders-guide-to-data-literacy/ I have done a lot of work on blogs and presentation related to how best to managed data: Top Reporting Challenges - https://www.slideshare.net/paulyoungcga/top-reporting-challenges-facing-both-the-private-and-public-sectorpptx PRESENTATION TITLE 5/30/2021 16
  • 17. HOW TO MITIGATE RISKS FROM GEOPOLITICAL EVENTS The world needs a coordinated effort as part of mitigation geopolitical risks - https://globalriskinsights.com/ Global risks need to be assessed by both the private and public sectors - https://www.govtech.com/em/emergency- blogs/disaster-zone/the-global-risks-report-2021.html. It is very important for both the private and public sectors to have audited risk and crisis management reports. - https://www.slideshare.net/paulyoungcga/why-there-needs-to-be-audited- reports-of-crisis-emergency-management-policies-and-procedures World is moving more to a digital cloud base model. More needs to be done to mitigate security risks - https://www.splunk.com/en_us/form/top-50-security- threats.html?utm_campaign=google_amer_en_search_generic_dynamic&utm_source=google&utm_medium=cpc&utm_con tent=dynamic_search&utm_term=&_bk=&_bt=427536315752&_bm=b&_bn=g&_bg=107944675828&device=c&gclid=Cj wKCAiAm-2BBhANEiwAe7eyFNHAbY5qDr2iRWGLWWQn1UfJ6Y- kMfs7TSfPotXlM7htbW5l2cv2PhoC5NwQAvD_BwE PRESENTATION TITLE 5/30/2021 17
  • 18. PUBLIC SECTOR IS NO ISLAND • Goal of government has always been to deliver program spending with value for money - https://www.slideshare.net/paulyoungcga/designing-social-programs-and-tax-fairness-policies • Government ability to manage their taxation policies as part of protecting the environment while growing the economy is a sustainable way will also lead to a stronger governance model. More oversight into planned vs actual results related to key environmental targets and economic targets. This means all levels of government need to adopt ESG reporting including setting standards for ESG reporting - https://www.slideshare.net/paulyoungcga/introductory-to-esg-and-sustainability-reportingpptx-257524640 • Elected officials need to held accountable including enforcing balance budget acts or recall elections or other areas that will provide people with a better governance model from their elected officials. • Government needs to revisit its operational model as part of better management and oversight into taxation and program spending - https://www.slideshare.net/paulyoungcga/the-importance-of-value-for-money-and- perfomance-based-audits PRESENTATION TITLE 5/30/202 18
  • 19. VALUE FOR MONEY AND PERFORMANCE AUDITING • All levels of government need to re-look at the internal controls and testing including development AI and Data models that get better safeguard assets. • All levels of government need to invest in internal audit and risk base solutions. • All levels of government need to work with auditors and departments as part of implementing changes recommended in the audit reports. There should be status reports on each and every audit to ensure changes have been implemented. Here is a brief look at why value for money and performance audits are very important for all levels of government - https://www.slideshare.net/paulyoungcga/why-are-value-for-money-and-performance-audits- important-for-government-public-sector PRESENTATION TITLE 2/11/20XX 19
  • 20. BLOG - ESG AND SUSTAINABILITY - OPERATIONAL AND CAPITAL SPENDING AS PART OF GETTING TO NET ZERO - CLIMATE CHANGE - HTTPS://WWW.LINKEDIN.COM/POSTS/PAUL-YOUNG- 055632B_ESGREPORTING-ESGASSURANCE- ESGINVESTING-ACTIVITY-7064605744196702208- WD86?UTM_SOURCE=SHARE&UTM_MEDIUM=MEMBER _DESKTOP EVERY YEAR, CANADIAN BUSINESSES SPEND BILLIONS OF DOLLARS TO REDUCE THE IMPACT OF THEIR ACTIVITIES ON THE ENVIRONMENT, WHETHER THEY ARE IN RESPONSE TO CURRENT OR ANTICIPATED CANADIAN OR INTERNATIONAL ENVIRONMENTAL REGULATIONS, CONVENTIONS, OR VOLUNTARY AGREEMENTS. THESE DATA HIGHLIGHT THE TYPE OF CASH OUTLAYS, INVESTMENT, AND MOBILIZATION OF INTERNAL RESOURCES, AND PROVIDE INFORMATION ON BUSINESS DRIVERS AND OBSTACLES TO THE PURCHASE OF GOODS, TECHNOLOGIES, AND SERVICES TO PROTECT THE ENVIRONMENT, AMONG OTHERS. PRESENTATION TITLE 2/11/20XX 20
  • 21. VEGETATION MANAGEMENT AND CLIMATE PRESENTATION TITLE 2/11/20XX 21 Blog - Safeguarding Assets through use of Weather Analytics and Vegetation Management Solutions - ESG and Climate Change - https://www.linkedin.com/posts/paul-young- 055632b_vegetation- TQfV?utm_source=share&utm_medium=member_desktop https://www.ibm.com/products/environmental-intelligence- suite/vegetation-management This is a great opportunity for the utility sector to re-look at their asset management through using vegetation and weather management solutions. Mitigation of risk from climate is becoming a key focus area for the utility sector. https://www.slideshare.net/paulyoungcga/electricity-analysis- canada-and-the-oecd-february-2023pptx
  • 22. AI AND THE PUBLIC SECTOR PRESENTATION TITLE 2/11/20XX 22 1. AI and the Public Sector – Salesforce - https://www.youtube.com/watch?v=LG3K8evTpkU 2. Audit - https://www.youtube.com/watch?v=yqN3mZu_TN4
  • 23. DEVELOPING A DATA STRATEGY PRESENTATION TITLE 2/11/20XX 23 Blog – Driving Data Strategy as part of driving better Business Analytics to Improve Business Outcomes - https://www.linkedin.com/posts/paul-young-055632b_unlock-the-full-value-of-your-data-activity- 7023960172133838848-6AyT?utm_source=share&utm_medium=member_desktop
  • 24. ASSET MONITORING PRESENTATION TITLE 2/11/20XX 24 Blog - Safeguarding Assets through use of Weather Analytics and Vegetation Management Solutions - ESG and Climate Change - https://www.linkedin.com/posts/paul-young-055632b_vegetation- TQfV?utm_source=share&utm_medium=member_desktop https://www.ibm.com/products/environmental-intelligence-suite/vegetation-management This is a great opportunity for the utility sector to re-look at their asset management through using vegetation and weather management solutions. Mitigation of risk from climate is becoming a key focus area for the utility sector. https://www.slideshare.net/paulyoungcga/electricity-analysis-canada-and-the-oecd-february-2023pptx
  • 25. CRISIS AND RISK MANAGEMENT PRESENTATION TITLE 2/11/20XX 25 https://www.linkedin.com/posts/rwlord_river-flood-highest-since-2001-in-miss-valley-activity-7062395985708085249- YI2M?utm_source=share&utm_medium=member_desktop Leverage data and AI as part mitigating geopolitical risks and threats is becoming increasing important for both private and public sectors. The ability to leverage geospatial data with business analytical tools like Cognos Analytics and Planning Analtyics can lead to better risk mitigation as part of safeguarding assets. Blog – Geospatial data with Planning Analytics - https://www.linkedin.com/posts/paul-young-055632b_geospatial-data- with-planning-analytics-activity-7062420172178915328-l43Y?utm_source=share&utm_medium=member_desktop Crisis and Risk Management - https://www.slideshare.net/paulyoungcga/why-both-the-private-and-public-sectors- need-mandatory-audits-of-crisis-and-risk-management-reports
  • 26. IMPORTANT OF GAP ANALYSIS PRESENTATION TITLE 2/11/20XX 26 What is GAP Analysis A gap analysis is the process that companies use to compare their current performance with their desired, expected performance. This analysis is used to determine whether a company is meeting expectations and using its resources effectively. A gap analysis is how a company can recognize its current state—by measuring time, capital, Revenue, operational, planning, ESG, and HR planning—and compare it with its target state. By defining and analyzing these gaps, the management team can create an action plan to move the organization forward and fill in the performance gaps. Source - https://www.investopedia.com/terms/g/gap-analysis.asp Additional Link - https://www.slideshare.net/paulyoungcga/how-gap-analysis-can-better-support-business- decisions
  • 27. IMPORTANCE OF INTEGRATED PLANNING AND REPORTING PRESENTATION TITLE 2/11/20XX 27
  • 28. SUMMARY PRESENTATION TITLE 2/11/20XX 28 • More needs to be done transform all levels of government Blog – Transforming the Public Sector Governance model for local, state, provincial, and Federal Governments I have written many blogs on the public sector, especially their challenges. https://www.globalgovernmentforum.com/top-trends-in-2023-what-will-governments-prioritise-in-the- year-ahead/ One of the major challenges with the public sector is the data silos as part of driving better decisions based on data. https://cfotech.com.au/story/data-leaders-should-balance-governance-and-innovation- qlik Much has been written on ESG adoption by the private sector. Little has been said how all levels of government also need to adopt ESG policies including key metrics as part of the integrated planning and reporting cycle. https://www.thefashionlaw.com/companies-governments-need-a-new-approach-to-esg- policies/ This has been horrible past few months for weather related events. These related events have highlighted the need for better crisis, emergency, and risk management plans including audited reports as part of the fiscal management cycle. https://www.reuters.com/business/environment/hawaiian- electric-ceos-bonus-lacked-incentive-cut-wildfire-risk-documents-show-2023-08-25/ or https://www.slideshare.net/paulyoungcga/why-both-the-private-and-public-sectors-need-mandatory- audits-of-crisis-and-risk-management-reports All levels of government need to work with the private sector on balancing economic policies with protecting the environment. https://www.bnnbloomberg.ca/imf-chief-sees-monetary-policy-divergence- after-inflation-fight-1.1963556 2023-25-08_Fiscal Monitor.pdf Public Sector and ESG.pdf Hawaii Power.pdf GDP and Risks.pdf WestpacWeekly20230 828.pdf Australia - Fiscal Gap.pdf

Editor's Notes

  1. Source - https://www.decisionlens.com/blog/what-is-integrated-planning-and-how-to-be-successful-at-it