Public financial management reform: an ongoing journey towards good governance

Alkaraan, Fadi (2018) Public financial management reform: an ongoing journey towards good governance. Journal of Financial Reporting and Accounting, 16 (4). pp. 585-609. ISSN 1985-2517

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Public financial management reform: an ongoing journey towards good governance
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This paper provides a better understanding of the influence of contextual factors on public financial management reform (PFMR) process. It provides a comprehensive analytical view of PFMR in the UAE over the period (2003-2016). The paper is based on a case study approach as a research methodology. It draws on archival data as well as interviews with key staff of the Ministry of Finance. A contingency model is used as conceptual framework to examine PFMR in the UAE.
Finding of this study show that PFMR process can’t be viewed as isolated initiative, rather, as part of a set of broader NPM reforms to strengthen public accountability for performance. The transition process creates major organisational changes; strategy, structure (new rules and roles), culture (core values about organisational vision, mission, and objectives), Benchmarks and milestones have been set in the accompanying monitoring matrix, though in practice delays have typically occurred in the implementation of reforms. Challenges ahead facing the MoF are addressed.
The findings should be understood in the economic, social and historical contexts of the UAE. Given the narrow scope of this paper, a single case study. Crucial themes for future research including how public sector executives employ effective independent measures of outcomes. The impact of basic supporting subsystems in translating strategic priorities and integrating them into the federal budget.
Research on PFMR is inherently practical. Essential factors for successful implantation of PFMR include government strategy, regulatory framework, information communication technology, technical experience, strong leadership, long-term political and administrative commitments, strategic pre-decision

Keywords:Public financial management reform, performance based budgeting, transparency, accountability, governance, MENA.
Subjects:N Business and Administrative studies > N412 Public Accountancy
Divisions:Lincoln International Business School
ID Code:34527
Deposited On:14 Feb 2019 13:16

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