Published: 16 August 2022
COA Commissioner Roland C. Pondoc and former Assistant Commissioner Luzvi Pangan-Chatto were resource persons during the 2nd day of the Government Financial Management Innovators Circle’s 13th Annual Convention.
Commission on Audit (COA) Commissioner Roland C. Pondoc shared his perspectives on the expectations and future plans for Public Financial Management (PFM) initiatives and reforms that may be pursued by the new administration during his keynote address at the 13th Annual Convention of the Government Financial Management Innovators Circle’s (GFMIC).,
The annual convention was held online with the theme “Pursuing PFM Excellence: Onto the New Administration” on 10-12 August 2022. Meanwhile, former COA Assistant Commissioner Luzvi Pangan-Chatto, who is also a Trustee and Adviser of GFMIC, was a resource speaker for the 2nd technical session of the convention with the topic, “Revisiting EO 55: Toward an Integrated Financial Management Information System.”
Commissioner Pondoc gave a brief history on the country’s PFM journey before continuing on in defining the nature of PFM as a set of laws, rules, systems, and processes used by sovereign nations to mobilize revenue, allocate public funds, undertake public spending, account for funds and audit results. The Commissioner explained that the three oversight agencies which include the COA, Department of Budget, and Department of Finance’s Bureau of Treasury drew up a PFM Reform Roadmap to address the gaps identified by the country’s PFM assessment in 2007 using the Public Expenditure and Financial Accountability Framework by instituting a series of reforms in Budgeting, Treasury and Cash Management, Liability Management, Accounting, and Auditing.
“Our hands are full in effecting reforms that we have envisaged to ensure that the gains we have achieved for the last eleven years in improving our country’s PFM system will be preserved, and new reforms are instituted to address the remaining weaknesses that plague our PFM system. But there is not a single doubt in my mind that if we at least maintain the level and degree of collaboration, cooperation, and cohesiveness amongst oversight and implementing agencies, we will be able to continue to shape an effective PFM system in the Philippines and see our plans through in the coming years,” Commissioner Pondoc said.
Meanwhile, retired Ascom Pangan-Chatto reminded the participants of the mandate provided in Executive Order No. 55 issued in 2011 for the integration and automation of all government financial management systems and to serve as the backbone of all reporting systems of government. She also referred to the PFM Reform Roadmap earlier discussed by Commissioner Pondoc and pointed out that the development of the Government Integrated Financial Management Information System was one of the five major strategies outlined in the PFM Reform Program. She said that the other systems identified to be part of the integration were the Comprehensive Human Resource Information System and the National Payroll System
With the insightful sessions given by Commissioner Pondoc and Assistant Commissioner Pangan-Chato, the GFMIC Board of Trustees decided to pass a resolution addressed to the PFM Principals expressing the GFMIC’s support and willingness to contribute to the achievement of the PFM Reforms. #