BAKU, Azerbaijan, October 22. A conference titled “Digital Finance Ecosystem: A New Stage in Governance” is being held on October 22, Trend's correspondent reports from the event.
The event is organized by the Public Council under Azerbaijan's Ministry of Finance, with the Association of Professional Financial Managers of Azerbaijan (APFM) as its official partner and support from the Ministry of Finance.
The conference brings together representatives of government agencies, the private sector and civil society organizations, as well as professional accountants. Discussions focus on the digital transformation of public finance and its development prospects, effective financial data management, and modern approaches to strengthening transparency and accountability.
Two panel sessions are being held as part of the conference: “Digitalization of Public Finance: Inter-System Integration and a New Governance Model” and “Ensuring Resilience in Public Finance Data Management.”
The panel discussions address the transition to a unified digital public finance management model, expanded system integration, the development of national digital infrastructure, the digitalization of fiscal policy, digital payment infrastructure, and the creation of a secure and flexible settlement environment for public financial transactions.
Participants are also exchanging views on strengthening public trust in the digital finance ecosystem, applying data-driven auditing and analytical approaches to assess the efficiency of public spending, transitioning to results-oriented fiscal policy, improving databases used in public procurement, assessing competition and identifying risk indicators.
Other topics include the analysis of financial transactions and early detection of risks, establishing a reliable data ecosystem for public finance, and the role of professional accountants in this process.
