The global public sector landscape is expected to be reshaped by a combination of factors like a growing and ageing population, the need for better infrastructure and continuing concerns over sustainability and consumption, a report has stated.
The report by the Association of Certified Chartered Accountants (ACCA), is under the theme, “50 drivers of change in the public sector”.
According to the report, there is an increasing demand for greater transparency and accountability for public funds which will only be possible if the public sector accepts and adopts these changes.
Head of Public Sector, ACCA Global, Iain Mansfield speaking to reporters said the drivers of change will have serious consequences for public sector organisations and their finance professionals either positive or negative, should the drivers be adopted or not.
He said, “Our global partners are saying the 50 drivers are the biggest changes that are coming, which means that for the public sector, if they make the most of them, it can be used to drive benefits and opportunities but if they don’t can cause problems.”
Mr Mansfield said, “Particularly Africa, they were saying that most important things that needed attention were the interaction between the public and private sector which was to bring about the effective use of the Public-Private Partnerships.”
He added, “Access of global talent and building the professional finance function in the future. Another key one for Africa was the availability of the natural resources and ensuring that the public sector finance function was really at the forefront of using these effectively. “
To help professional accountants and leaders in the public sector prepare for an uncertain tomorrow, ACCA undertook the global study to explore which emerging drivers of change could have the biggest impact and to highlight the skills that will be required over the period to 2026.