going forward, new competencies are required. foremost of these is communication skill. technical know - how alone is not enough. our communication strategy should be guided by three principles : to say it correctly, to say it well, to say it differently. this will require an astute awareness of relationships from a social, economic and political standpoint. through this understanding, we will be able to articulate our ideas or positions more clearly and coherently. the use of multiple platforms, such as social media, instant messaging services, or public online forums will offer new possibilities. ralph waldo emerson, an essayist and poet who led the transcendentalist movement of the mid - 19th century, once said, “ in skating over thin ice, our safety is in our speed. ” this analogy is appropriate in our current environment. responding to a dynamic environment in a timely manner will require the intuition of skill and knowledge. many professions will see a dramatic shift in skill sets required over the coming decade, and the accountancy profession will be no exception. given finite resources, public policy is likely to be overwhelmed by a sense of cynicism or pessimism. this is where public sector accountants may offer a breakthrough by taking on a more strategic role. as financial data expands in scope, volume and complexity, operational efficiency demands a new set of technical skills and knowledge. complex problem solving, critical thinking, coordinating with others, service orientation, cognitive flexibility, just to name a few. amid new international accounting standards, rising trends in financial technology and the attendant changes required, accountants are becoming among the most flexible and multi - skilled individuals. 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

shifts. at present, an estimated 26. 3 % of our total population is between the ages of 25 to 40 years old. this represents a group of better - educated individuals, used to unfettered access to information. they are likely to have higher expectations on public service. the era of “ government knows best ” is a past participle. our engagements must therefore adapt and respond to evolving norms of our society. these are some of the challenges we are facing. the challenges are enormous yet exciting. the public sector must be ready to steer and lead the nation onto a new, uncharted path with confidence, certainty and conviction. this is a heavy responsibility. what we do today will have ramifications on the future of our children and our children ’ s children. we must rethink the way we formulate policies, the way we deliver on our mandates and the way we think about public policy. 1 / 4 bis central bankers'speeches today, i would like to speak about three possible characteristics that will be necessary for the public sector to navigate the challenges of the future. these are : integrity, agility and validity of measurement. integrity : the courage to take the road less travelled as public servants, our duty is to serve and protect the public interest. our legitimacy is strengthened by their confidence. discharging this responsibility will become more challenging as we move forward : priorities and needs will continue to expand faster than our resources. in these times, moral courage, integrity and transparency will be more important than ever. we must be brave enough to pursue the right course of action, doing the right thing, unpopular as they may be in the short - term. we must also be accountable for our decisions. this requires that we engage and communicate with the public as never before, explaining clearly the rationale of our policies. it is also important that we foster a culture and environment that prioritises these values at the level of the individual. the integrity of the public sector rests on the strength of character of each and every public official, without any exception. this will require leadership, incentives and structures that will enable individuals to be clear - eyed and independent - minded. this is a spirit best summed up in mahatma gandhi ’ s words : “ even if you are a minority of one, the truth is the truth. ” integrity is best demonstrated through the transparency and thoroughness of disclosures. the publication of financial and non - financial information is the central means by which