The Consortium is unique in the financial management community. It was established in 1978 by a distinguished and international group of financial management professionals from government and academia. They recognized the need for the various financial practitioners to engage in dialogue about their perspectives for improving government financial management. ICGFM became the first "umbrella" organization composed of government entities, university departments, private firms, and professional associations devoted to improving financial management.
Purposes and Objectives
The Consortium, as the only worldwide grouping of organizations and people involved in governmental financial management, encourages its members to work together to promote a better understanding of professional financial management among public officials at all levels of government through -
- exchanging information and ideas -- providing an international clearinghouse of information relevant to governmental financial management;
- researching, training, and publicizing results;
- liaisons between the individual organization to better promote mutual objectives;
- maintenance of high professional standards among governmental financial managers;
- stimulating governments to recognize the critical importance of improved professional management of public resources; and
- collaborating in development programs which channel technical assistance to developing countries.
- The Consortium's activities are limited to the following areas which constitute the disciplines of governmental financial management: accounting, auditing, budgeting, data processing, debt ad-ministration, retirement administration, and treasury management. These areas provide the general frame of reference for the programs, activities, and operations of the Consortium.
The Consortium does not duplicate the goals or functions of other financial organizations. Its purpose is to provide a worldwide framework for bringing together financial managers and auditors at the municipal, state, federal, and international levels, as well as others who are interested in their work. It operates through a network of existing organizations and institutions and constitutes a worldwide channel of communications for them.