Cook Islands Government Public Financial Management Roadmap 2016-2020
The Cook Islands Government (CIG) Public Financial Management (PFM) Roadmap was developed to highlight and outline specific actions to improve weaknesses in the current public financial management system and to maintain areas of strength.
This latest PFM Roadmap, endorsed by Cabinet in November, builds on the success of the previous Roadmap for 2011-2015 by presenting agreed deliverables to improve key compenents of its Public Financial Management (PFM) systems, whilst at the same time addressing challenges identified in the 2015 Public Expenditure and Financial Accountability (PEFA) assessment.
The Roadmap will focus on the following areas:
- Improving measures of transparency and accountability across Government;
- Improving the timeliness of financial reporting
- Further reducing systemic vulnerabilities to corruption;
- Greater invovlvement of the lefislature in scrutinising public finances and the annual budget law;
- Improved control in budget execution, and
- Improving public fianncial management across Government.
The document also provides the following:
- Discussions on the broad challenges of the current PFM system;
- Summarised the key PFM performance indicators and scores highlighted in PEFA; and
- A roadmap of medium-term actions to be undertaken over 2016/2017 to 2019/2020 including responsible Fovernment agenvies and stakeholders for achieving improved results.
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