Finance holds an expanded meeting to complete the project to modernize public financial management systems
Economie Yesterday, 19:06
Today, Thursday, the Ministry of Finance held an expanded meeting to complete the project to modernize public financial management systems.
A statement by the ministry, received by the Iraqi News Agency (INA), stated that
"the Minister of Finance, Ihsan Abdul-Jabbar Agency, chaired an expanded meeting to complete the stages of preparing the project. Updating the IFMIS Public Financial Management Systems, with the participation of the members of the Project Steering Committee, the PMT Project Management Team Leader, and the AARC ICC Contract Consulting Company, in the presence of the Undersecretary of the Ministry and directors of the departments concerned with project implementation. The statement added,
"During the meeting, reports related to the project's work were reviewed in terms of market study and potential risks, as well as approving the outputs of the first phase of the project,
in addition to discussing the strategic factors for the success of the IFMIS project, and
providing all means within the efforts to complete it as follows: which ensures its safety from various potential strategic risks. He pointed out that
"during the meeting, the foundations for implementing the digitization of financial management PFM, which includes the
implementation of the first phase of the integrated financial management system, and the
introduction of new ways of working that are implemented through new tools and practices, in addition to
integrating and simplifying public financial management processes, as well as
strengthening strategic planning and utilization, were discussed. optimum financial resources.
According to the statement, Abdul-Jabbar stressed that
"the application of the system will work to achieve a set of goals, the most important of which is financial discipline, reducing errors, achieving efficiency and effectiveness in the use of government resources, in addition to providing accurate and real-time data and information on all government financial information that helps provide services efficiently and effectively."
Pointing to raising the level of financial transparency, follow-up, control and financial accountability, as well as increasing the ability to properly plan government cash flows. The statement continued,
"The IFMIS system is a means of linking all public government agencies and contains all the functions of public financial management from the financial and accounting operations that take place in all stages of preparing and implementing the budget, starting from the strategic planning stage and ending with the accounting stage and submitting final accounts." He pointed out that
"the process of implementing the system comes within the framework of the adoption of the financial and economic reform project represented in the white paper, and with the aim of shifting towards integrated financial and accounting management that is consistent with internationally approved programs and systems."