Ladies and Gentlemen, The topic of this meeting centered on the place of women in governing bodies refers inevitably to the challenges of women contribution to economic activity and more broadly to the issue of gender inequality. In this respect, I think there is no need to argue nor to justify the importance of this issue. It is discussed and debated every now and then in public debates within national and international bodies, not to mention the regular or specific reports devoted to it. This increasingly highlights the stakes involved and, fortunately, the greater awareness about it. It is not only a problem of social exclusion but, as we all know, a considerable economic loss. The available data on the different dimensions of this issue unfortunately show that our region MENA appears to have among the highest levels of gender inequality, if not the highest, in the world. However, I believe that there is a growing awareness about the situation. We have seen in recent years the adoption of policies and initiatives in the region to empower women and strengthen their economic, social and political status. I would like, if I may, to illustrate further on this referring to my home country and the institution I have the honor to lead. Ladies and Gentlemen, Since many years now, Morocco engaged in a process of improving the situation of women, ratifying several international conventions and complying with UN instruments on human rights in general and women rights in particular.

This is a major transformation in role of accountants compared to only two decades ago. As the profession grows in technical mastery and sophistication, accountants will contribute significantly to charting a new path for the public sector. A key area that I foresee accountants will wield considerable influence is in performance measurement. This brings me to my final point on Validity of Measurement. Validity of Measurement: Identifying, measuring and assessing outcomes I have so far alluded to initiatives and policies for the transformation of the public sector. However, these would be futile if we do not know how effective they are. In this respect, we must develop identifiable, measurable and practical performance indicators. Our performance indicators should be defined by three key features: Long-term in outlook, integrated with overall strategic objectives and should also focused on impact of social outcomes. Achieving the objectives of national development requires strong coordination across all parts of the government machinery. It is important to eradicate silo mentality and turf protection. Cross collaboration will generate unique and fresh policy perspectives. Collaborative ownership will also increase the probability of policy success. It will also minimize unnecessary and costly overlaps. 3/4  BIS central bankers' speeches  Performance measurement should go beyond budgetary considerations. Our performance as public officials is mainly determined by how well we have served the needs of the public. We must consider public satisfaction and post-completion financial sustainability. Unintended consequences or externalities should also be taken into account, particularly in terms of socioeconomic and environmental impact.