Govt to switch accounting system

The Government will prioritise financial data migration from the Papua New Guinea Accounting System (PGAS) to the Integrated Financial Management System (IFMS) in 2017.

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.

Also, non-compliance with internal controls, frequent reallocation decisions and delays in implementing the IFMS has impeded the ability of the government to implement the budget, as approved.

The State says the Budgeting facility of the IFMS has now been fully rolled out to all Government agencies and the facility was used for the 2016 Budget.

The accounting facility of the IFMS has been rolled out to the line departments.



Cedric Patjole