Public finance management: Teach us not to prey | KPMG | KE

Public finance management: Teach us not to prey

Public finance management: Teach us not to prey

Why we must help make our regulatory framework deliver sound ethical conduct

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public finance management

Kenya is a religious country. For example, most of our official meetings begin with a word of prayer, especially in the public sector. At a recent three-day public sector conference that I attended, each day started and closed with a prayer. This is good: to seek divine intervention in our work-relatedactivities and to thank God for progress and success.

The divine intervention we seek, however, should translate into something more significant for Public Finance Management (PFM). Hence the need for a connection between our religious practices and what we see happening in the public finance space. PFM is facing unprecedented challenges. The new constitutional order that ushered in devolved entities has increased paying points countrywide and consequently increased our exposure to resource
mismanagement. For instance, from tax revenues of Ksh800.5 billion collected in 2012/13, we are now targeting Ksh2.3 trillion this financial year, 2016/17.

© 2017 KPMG Kenya, a registered partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

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