Brief summary of General financial Rules and Public financial management system

Question

Accepted Answer

General financial rules and public financial management system are guidelines and procedures for managing public funds.

General financial rules provide guidelines for budgeting, accounting, and auditing of public funds.
Public financial management system is a framework for managing public funds efficiently and effectively.
It includes budget preparation, execution, accounting, reporting, and auditing.
Examples of public financial management systems include Integrated Financial Management Information System (IFMIS) and Public Expenditure and Financial Accountability (PEFA).

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