President Ferdinand Marcos Jr. has issued an executive order urging all government offices and LGUs to adopt and implement an integrated financial management information system in their transactions with the general public. | DYGalvezINQ
The President also ordered the creation of a Public Financial Management Committee, composed of representatives from the Department of Budget and Management , Department of Finance , Commission on Audit , and the Bureau of Treasury , to help in the transition to full digitalization of the PFM processes via the IFMIS.
Under the EO, the PFM Committee will conduct policy and process review of key PFM processes, including:-accounting and reporting to pinpoint bottlenecks-reengineer PFM processes and maximize the use of financial systems to ensure seamless government transactions The PFM Committee will also come up with a five-year plan for the development and implementation of the IFMIS that links national government agencies with DBM, DOF, COA, and BTr; oversee, coordinate, and develop integration, simplification, harmonization of the government’s financial management processes and information systems; and, develop, oversee, and conduct comprehensive mid-term review of the implementation of PFM Reforms Roadmap.
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