About Committee on Public & Government Financial Management (CP&GFM), ICAI
Public financial management is central to the growth of an economy as it is essential to deliver sustainable and high quality public services. In India, public financial management reforms have evolved over decades, however, the fundamental changes are yet to be achieved. Since the quality of financial statements impacts the quality of various finance related decisions, financial reporting is considered as vital ingredient of public financial management. Improved financial reporting is also important from the accountability perspective.
ICAI keeping its mission and vision in mind has constituted the Committee on Public Finance and Government Financial Management (CP&GFM) which strives to assist Central & State Governments and Local Bodies in successful implementation of the accounting reforms and public finance management. This is an initiative of ICAI to meet its social obligations by providing professional services of CAs beyond corporate sector and to the public at large, by being true to its role of being a partner in nation building. The Committee primarily focuses on capacity building of the finance officials of various tiers of Government in India by various means such as organizing workshops, developing relevant e-training modules, etc. apart from formulating Accounting Standards for Local Bodies (ASLBs)