Tuesday, July 7, 2009

Robert McNamara - Driving Force in Government Financial Management Reform

Robert McNamara, former American Secretary of Defense died several days ago at the age of 93. Prior to becoming Secretary of Defense in the Kennedy and Johnson administrations he was President of Ford Motor Company. After leaving the US Cabinet he became President of the World Bank.

For accountants, McNamara is important for starting a reform process in public sector financial management which continues today. This reform process introduced corporate style financial management processes into government.

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