Monday, July 28, 2008

Something we often forget

Quote of the Day on government public financial reforms;

Even when developed to the ultimate stage of perfection, governmental accounting cannot become a guaranty of good government. At best, it can never be more than a valuable tool for promotion of sound financial management. It does not offer a panacea for all the ills that beset representative government; nor will it fully overcome the influence of disinterested, uninformed citizens. It cannot be substituted for honesty and moral integrity on the part of public officials; it cannot eliminate the demands of selfish interests, whether in the form of individual citizens, corporations, or the pressure groups which always abound to influence government at al levels-(Mikesell, 1956: 10).

World Bank Support for Public Financial Management: Conceptual Roots and Evidence of Impact by Clay G. Wescott

via IMF PFM blog

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