Integrated Financial Management System (IFMS)

New accounting system rollout in Central

This follows the two weeks of training at a workshop held at PNGIPA hall.

The training workshop for provincial government officials was underway for officers from the provincial headquarters, districts and local level government. It was funded by Department of Finance, through the IFMS Project team.

Central Provincial Administrator Gei Guni Raga said this will a major transitional period for the province from the current accounting package, the Papua New Guinea Government Accounting System (PGAS), into the Integrated Financial Management System (IFMS).

Govt to switch accounting system

This is to improve the quality of cash management and effectiveness of spending.

This follows an assessment by the Department of Finance in 2014 on PNG’s public financial management systems against the internationally recognised Public Expenditure and Financial Accountability (PEFA).

The Government says the assessment revealed that the use of both the PGAS and IFMS affected the comprehensiveness and quality data in budget execution reports.