Policy Commentary

Government Operations Committee Recognizes Importance of Financial Officers

In their Tenth Report, the House of Commons Standing Committee on Government Operations and Estimates formally recognized the concerns of the Association of Canadian Financial Officers (ACFO). ACFO president Milt Isaacs was called to testify at the Committee, and informed the committee members of the important role that Financial Officers (FIs) play in the accountability process within departments and the necessity of considering the impact operating budget freeze will have on financial oversight.

The Committee’s Final Report (which can be accessed here) was presented to the House of Commons on March 11. The report included Mr. Isaacs’ statement that said, “when a financial officer’s position becomes vacant, it could get absorbed into programs; when that happens you’ve weakened oversight. You’ve lost your financial road map.”

A vibrant, healthy FI community is the cornerstone of the Government of Canada’s world-class financial management and accountability framework as Financial Officers oversee that their tax dollars are spent following the terms of the Financial Accountability Act and the Financial Administration Act. By convincing the highest levels of government operations to safeguard FI capacity, we can make sure this foundation remains strong to the benefit of our members, the government for whom they work, and ultimately Canadian taxpayers.

21/3/2011

 

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