Public Financial Management
Public Financial Management (PFM), provides a framework for parliamentary authorisation and scrutiny of the Government's expenditure proposals and the Government's management of its assets and liabilities, including: Public sector performance management approach emphasises, among other things, clear objectives and clear lines of responsibility, greater freedom to manage, and a corresponding expectation of greater accountability for results. Such a system requires good measures of performance that interested external parties can trust. This requires that public sector entities to prepare financial information that: