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Pakistan
Vision for Good Governance
Pakistan is a vibrant and multicultural country 140 million
people located in a strategically significant region.
Through significant reform measures in the recent past
it has achieved macro economic stability. The economy
is being deregulated to make it attractive for both domestic
and international investors.
At the policy level it is recognized that modern accounting
systems and new audit methodologies are crucial for good
financial governance. Re-engineering of economic and financial
management functions In Pakistan include:
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Adoption and implementation of a modern accounting system
designed according to internationally recognized accounting
principles and standards, and based on modern information
technology for ensuring ready availability of relevant,
accurate and timely information required by managers.
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Increasing professionalism in the elements of its civil
services, which deal with financial and economic management,
and inclusion of key competencies in their training.
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Implementing a governance structure and legal framework
for an independent audit function that supports public
accountability through democratically elected public
representatives.
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Increasing partnership between the private and public
sectors in their respective areas of comparative advantage,
and
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Adopting improved standards for private sector financial
disclosure.
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