Gatineau, November 24, 2008 -- Canada’s financial managers can help create a model for the adoption of best Public Service governance practices around the world -- practices which are the key to containing a disintegrating global financial crises, according to a spokesman for the Canadian Advanced Technology Alliance (CATA). Using a new poll of CATA members, EVP Barry Gander today told a meeting of the Financial Management Institute that there are ten steps that CATA members advised financial planners to take to create “the twin pillars needed for a global recovery.”
“Financial managers have the two skills that could save the world from continuing its journey into a global financial crises,” said Mr. Gander, “the skills to deliver Transparency and Accountability. We can energize our society and promote Canada as a model of how to attack the global crises, if we take the steps needed to make ourselves masters of “Governing Smarter”.
Saying that governance is the key to overcoming the financial crises, Mr. Gander stated that “many experts have said that the current crises was caused -- and is being magnified now -- by a lack of Transparency and Accountability. Regulators in America have drawn a curtain around their activities, and no one really knows which institutions are in trouble or how badly in trouble they are. Few agree on the responsibility for overseeing the spending. Oversight of the bailout plan is missing. We are sailing in the dark and without a rudder.
“Both Canada and America, however, have the tools at hand to correct this. We both have an exemplary Public Service. We have the frameworks in place to be Accountable and Transparent. The United States has new leadership, and that will certainly inspire confidence. There will be a new hand on the rudder. Perhaps Canada, because it is not in the thick of the crises as much our American colleagues, can show the way first, and create an environment where the tools for even better governance can evolve -- the new charts for our society to sail by.
John Reid, President of CATA, noted that the poll results have been verified by recent leadership roundtables with senior Public Servants. “We have identified ten steps that would create the environment for “Governing Smarter”, and achieving best governance practices. Essentially, we need to design programs based on outcomes and results, educate employees about ethical reasoning skills and competencies, and improve information management to provide decision-makers with the tools they need to manage public policy outcomes.”
Canada has shown that it can get the basics right, concluded Mr. Gander: “Canada, for example, has had the rules in place to prevent the kind of mortgage melt-down that triggered the crises. We now have in our hands the power to change the outcome, and we can be a model for a change of outcomes everywhere. Canadians are trusted everywhere, and we can transfer this skill. Perhaps some day, it will be seen as one of our most valuable global contributions.”
CATA is Canada’s largest high-tech organization, by a factor of ten. With 33,000 members, CATA has worked for 30 years to grow the revenues and increase the strength of Canadian companies on the global stage. For more information see: www.cata.ca
For a copy of CATA’s Advocacy Agenda, see:
++ Action Item: For more information about this press release and related white papers and social networks, please contact:Emily Boucher, CATA Communications Director at email@example.com (613) 222-9525