CGFM TOPICS Newsletter
CGFM Helps PwC's Federal Practice Better Serve Its Government Clients
"Stale,
old and dated,” was how Carter Pate described his knowledge of
federal financial management when he was asked to reinvigorate the
U.S. federal practice for PricewaterhouseCoopers LLP, but that was
before he teamed up with AGA to earn his CGFM.
Pate, a managing partner in Dallas,
moved to Washington, D.C. in July 2004 after more than 20 years on
the commercial side. Although he is a nationally known business
restructuring expert, author, former CEO and chairman of several
public companies and founding partner of his own national consulting
firm, Pate still worried he was rusty on the specifics of
governmental accounting.
Pate asked around, looking for the
best course of study to improve his skills. A number of government
finance professionals suggested earning the CGFM credential. “It was
exactly what I was looking for,” Pate said.
He decided AGA’s series of three
Government Financial Management courses, offered in partnership with
Management Concepts, could serve as a “leveling” course of study for
the entire staff. Pate sat through the courses with his staff and
passed all three “significantly difficult” exams. “If I made
everyone sit through it, I could have the comfort as the leader of
the practice that we were all on the same baseline level of
knowledge.”
He brought the courses to PwC,
making it as convenient as possible for the 23 staff members, who
each earned 48 CPE hours last year from the courses. The courses
cover governmental financial reporting and budgeting, auditing and
internal controls, and help prepare professionals to take the three
CGFM Examinations.
Pate, who is also a CPA and a CFE,
found it much easier to get into specifics with government clients
after earning his CGFM. “I was able to drop all insecurity about
getting into a deep conversation regarding budgeting matters and
compliance issues.”
The federal practice, which has
undergone tremendous growth under Pate, advises government agencies
on financial management issues, risk and compliance, program
management, data management and other challenges. Government clients
include the Internal Revenue Service, Social Security
Administration, and the U.S. Departments of Defense and Veterans
Affairs.
When the federal practice seeks
federal contracts, the qualifications of the team members—including
the CGFM—is highlighted. “I believe that it sends a signal as to the
quality of our personnel. It shows our commitment to our industry
and our commitment to continuing training in order to keep the
certification,” Pate said. Maintaining the CGFM requires 80 hours of
continuing professional education every two years. “There’s no
on-the-job learning at the government’s expense,” Pate said.
The firm itself benefits because
staff are continuously upgrading their skills and expanding their
knowledge, and Pate looks for CGFMs when hiring. “It’s a bonus. It
can easily determine whether you get hired over someone else.”
PwC’s support of AGA extends beyond
its CGFM Program. The company is a professional-level corporate
partner involved in AGA’s Corporate Partner Advisory Group, which
brings together finance professionals in the private sector with
top-level government leaders. Pate said the Corporate Partner
program gives PwC more exposure to senior government executives. “We
have unfettered access to the key policy decision-makers.”
Managers interested in bringing AGA’s
Government Financial Management courses to their workplace can
contact Katya Silver at
ksilver@agacgfm.org. Anyone interested in
AGA’s Corporate Partner Program can contact Susan Fritzlen at
sfritzlen@agacgfm.org.
