Promoting Financial Accountability

U.S. foreign policy promotes and supports robust economies through efficient and transparent management of public funds. Participants explored the role of government institutions, independent oversight agencies, private sector watchdog groups, academia, and traditional and social media in ensuring financial transparency and accountability in all levels of government. Meetings and site visits examined public sector strategies to prevent financial corruption, encourage ethical leadership and transparency, and ensure accountability to the public. Visitors went to New York, Cleveland Ohio, Salt Lake City Utah, and San Francisco, California.

The project objectives were: to examine the development, adoption and implementation of international standards and guidance in public sector financial reporting and management; to explore the creation and support of strong professional organizations that support high-quality practices by professionals; to review academic training, certifications and continuing professional development programs in the field of public sector financial reporting and management; and to illustrate the role of an independent media (including social media) in reporting cases of financial mismanagement and corruption.