Effects of Integrated Financial Management Information System Practices on Public Financial Management Performance in the Ministry of Finance
Published: 2023
Author(s) Name: Dakito Alemu Kesto, Aweke Alemu Misganaw |
Author(s) Affiliation: Accounting & Finance Program Unit, School of Commerce, CoBE, Addis Ababa University, Ethiopia.
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Abstract
Since 2010, the Federal Republic of Ethiopia’s Ministry of Finance has employed an Integrated Financial Management Information System (IFMIS) to improve the efficiency and performance of public sector financial management. As a result, the purpose of this study was to examine the effect of IFMIS on public financial management performance in the ministry of finance. 162 employees from the ministry of finance directorates who use the IFMIS were studied using an explanatory research design with a purposive sample. Primary data was gathered through a questionnaire linked to the study’s specific objectives. The data were analysed using descriptive analysis and inferential analysis by SPSS version 25.0 and Excel. The investigation reveals that the IFMIS budgeting system, financial reporting system and organisational accountability mechanism all have an impact on public financial management. The study suggests that the ministry of finance should properly use the information of IFMIS to plan and formulate budgets, examine results against budgets and plans, monitor the performance of specific departments or units and make revisions and adjustments as necessary.
Keywords: Integrated Financial Management Information System, Public Financial Management, Budgeting System, Financial Reporting System, Organizational Accountability Mechanism, Optimal Resource Allocation
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