Who is accountable for FM & C?
While the Deputy Head has overall accountability,
all managers and employees are
accountable for exercising FM & C, and financial
management specialists13 have the additional
accountability for ensuring that a sound
framework, on behalf of the Deputy Head, is
in place to foster the exercise of FM & C.
These specialists must also have the capacity to
provide sound advice on the interpretation and
use of the framework, and to monitor its application
so that its purposes are achieved.
The Pillars of a Financial Management
and Control Framework
The four pillars of comptrollership advocated
by the Independent Review Panel14
and later by the Modern Comptrollership
team at the Treasury Board Secretariat can
be summarized as follows:
1. Performance Information – financial and
non-financial information
2. Risk Management
3. Control Systems
4.Ethics, ethical practices and values
(beyond a focus on legal compliance)
Each of these pillars fit well with the FM
& C Framework:
Linking financial and non-financial
information
• The key objective of this pillar is to link
resources to results. In my view, the reason
why this objective has been so hard