  We investigate the role of magnetic fluctuations in the spectral properties
of paramagnetic gamma-Mn. Two methods are employed. The Local Density
Approximation plus Dynamical Mean-Field Theory together with the numerically
exact quantum Monte-Carlo solver is used as a reference for the spectral
properties. Then the same scheme is used with the computationally less
demanding perturbative spin-polarized fluctuation-exchange solver in
combination with the Disordered Local Moment approach, and photoemission
spectra are calculated within the one-step model. It is shown that the
formation of local magnetic moments in gamma-Mn is very sensitive to the value
of Hund's exchange parameter. Comparison with the experimental photoemission
spectra demonstrates that gamma-Mn is a strongly correlated system, with the
Hubbard band formation, which cannot be described by the perturbative approach.
However, minor change of parameters would transform it into a weakly correlated
system.
