ABSTRACT
Money is a key resource for all PSOs and the various trends in the public sector, referred to in Chapter 3, have impacted significantly on the status, role and practice of financial management in the public sector. In particular, the following points should be kept in mind as having had a major impact on the practice of financial management and control in PSOs:
the emphasis on PSOs achieving strategic objectives
the continued drive for improved performance including improved resource efficiency
increased managerial delegation within PSOs including budgetary delegation
increased emphasis on public accountability and probity
the trend towards charging for services and hence the need to cost those services.
