In December 2016, a new body for public finance management practitioners was launched alongside the amended Act.
The body is called the Papua New Guinea Association of Government Accountants and Public Finance Managers Incorporated. Minister for Finance, James Marape, urged the custodians of the Public Finance Management Act to read and take to heart the newly amended Public Finance Management Act.
The PNG Association of Government Accountants and Public Finance Managers Incorporated was launched by Minister Marape, Finance Secretary Dr Ken Ngangan, and Chief Secretary Isaac Lupari. It’s an initiative of Secretary Ngangan, that will run parallel with his other initiative to redeem the Public Finance Management practice in PNG.
Minister Marape who is also interim patron, said members need to know the Act as amended, for efficient work to be done.
The PNG Association of Government Accountants and Public Finance Manager Incorporated was established as an avenue to motivate and provide professional development for public finance management practitioners, including public service managers.
The aim is to bring about improvement and efficiency at the work place.
(a) To promote professional development and enhance the capacity of Public Sector Accountants (PSAs) through adherence to requirements of Public Sector Accounting Standards;
(b) To educate and award qualifications to members and would-be members within the Public Sector generally including those with governments, government bodies, departments, and state-owned enterprises in the practice and application of public sector accounting and Public Sector Accounting Standards and guidelines;
(c) To determine, define and set professional qualification schemes, training programs and ethical conduct rules for PSAs to enhance their standing and status as accountants, public funds managers and professionals in their own right in society;
(d) To encourage the application of professional proficiency and promote the objects of government, public enterprises and public organisations through inputs and continuous development of financial regulations and practices;
(e) To guard against and/or monitor occurrences of unprofessional or unethical conduct by members in discharging respective responsibilities and duties to clients, employers and other stakeholders;
(f) To promote the Association, the Profession, build capacity of members and sustain by increased public awareness through campaigns, workshops, conferences and forums;
(g) To encourage and build alliances with other public sector accounting bodies, auxiliary professions and stakeholders globally; and
(h) To be the focal point for all interactions of the Association.