revenue and Expense: Recognition - David Bean, GASB, John Stanford, IPSASBOECD Governance
Presentation made by David Bean, GASB, and John Stanford, IPSASB, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
Update on the EPSAS project - Alexandre Makaronidis, EUROSTATOECD Governance
Presentation made by Alexandre Makaronidis, Eurostat, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
This presentation was made by Marine Camiade, France, at the 12th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 15-16 December 2016
revenue and Expense: Recognition - David Bean, GASB, John Stanford, IPSASBOECD Governance
Presentation made by David Bean, GASB, and John Stanford, IPSASB, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
Update on the EPSAS project - Alexandre Makaronidis, EUROSTATOECD Governance
Presentation made by Alexandre Makaronidis, Eurostat, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
This presentation was made by Marine Camiade, France, at the 12th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 15-16 December 2016
Managing Government Balance Sheet: a Focus on Public Assets - Manal Fouad, IMFOECD Governance
This presentation was made by Manal Fouad, IMF, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019
Atkins: Preliminary results for the year ended 31 March 2016Atkins
Our strategy is to focus on revenue growth and, selectively, to increase our geographic footprint and capabilities through targeted international expansion organically and by acquisition.
Assessing the Past Decade of the Korean Performance Budgeting Experience by N...OECD Governance
Presentation by Nowook Park at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
Performance Budgeting in the Canadian Federal Government by Kiran HanspalOECD Governance
Presentation by Kiran Hanspal at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
Performance Budgeting: The French Experience by Veronique FouqueOECD Governance
Presentation by Veronique Fouque at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
IPSAS Implementation at the United Nations - Unis Valencia Williams-Baker, Un...OECD Governance
Presentation made by Unis Valencia Williams-Baker, United Nations, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
Presentation by Karen Hill, Head of SIGMA, at the regional conference on Public Administration Reform Challenges in Western Balkan Countries held at the OECD in Paris, 4 December 2015
Effectiveness of the Public Financial Management Assessment Tool or (PFMAT) i...IJAEMSJORNAL
In both theoretical and practical areas, the issue of public sector management and the use of public finances is highly critical. The management of public finances is vital if public services, like local government, are to operate smoothly and effectively. If public financial management is such a vital element in a country's growth, it is crucial to know, quantify and develop the factors leading to poor public financial management. This descriptive research interest is on the effectiveness of the public financial management assessment tool or PFMAT for local government units. The chosen subject of the study is the Municipality of Talavera, Nueva Ecija, and the focus is on the results of the PFMAT report of the municipality for the covered fiscal years 2014-2016 and 2016-2018. The study revealed that the PFMAT is a standard tool that states the weak areas of the public financial performance of LGU-Talavera, thus paving the way for improved services for the residents of the municipality. LGU-Talavera has gradually improved its public financial performance in 2014-2018. PFMAT is therefore an effective tool for evaluating public finances to strengthen the town's financial capability, thereby enhancing the overall performance of the LGU.
Procurement Case Study - Chile
Jorge Claro, President and CEO, International Procurement Institute
The International Procurement Institute, together with the Graduate School, USDA, present
this session focusing on a recent procurement assessment conducted in Chile. Mr. Claro
will provide an overview of how the OECD/DAC assessment was applied in a country
procurement assessment report conducted in Chile. The session will conclude with an
interactive discussion on the environment required for successful application of the tool
and issues that should be anticipated while conducting the benchmarking.
Managing Government Balance Sheet: a Focus on Public Assets - Manal Fouad, IMFOECD Governance
This presentation was made by Manal Fouad, IMF, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019
Atkins: Preliminary results for the year ended 31 March 2016Atkins
Our strategy is to focus on revenue growth and, selectively, to increase our geographic footprint and capabilities through targeted international expansion organically and by acquisition.
Assessing the Past Decade of the Korean Performance Budgeting Experience by N...OECD Governance
Presentation by Nowook Park at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
Performance Budgeting in the Canadian Federal Government by Kiran HanspalOECD Governance
Presentation by Kiran Hanspal at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
Performance Budgeting: The French Experience by Veronique FouqueOECD Governance
Presentation by Veronique Fouque at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
IPSAS Implementation at the United Nations - Unis Valencia Williams-Baker, Un...OECD Governance
Presentation made by Unis Valencia Williams-Baker, United Nations, at the 16th Annual OECD Accruals Symposium held at the OECD Conference Centre, Paris, on 21-22 March 2016.
Presentation by Karen Hill, Head of SIGMA, at the regional conference on Public Administration Reform Challenges in Western Balkan Countries held at the OECD in Paris, 4 December 2015
Effectiveness of the Public Financial Management Assessment Tool or (PFMAT) i...IJAEMSJORNAL
In both theoretical and practical areas, the issue of public sector management and the use of public finances is highly critical. The management of public finances is vital if public services, like local government, are to operate smoothly and effectively. If public financial management is such a vital element in a country's growth, it is crucial to know, quantify and develop the factors leading to poor public financial management. This descriptive research interest is on the effectiveness of the public financial management assessment tool or PFMAT for local government units. The chosen subject of the study is the Municipality of Talavera, Nueva Ecija, and the focus is on the results of the PFMAT report of the municipality for the covered fiscal years 2014-2016 and 2016-2018. The study revealed that the PFMAT is a standard tool that states the weak areas of the public financial performance of LGU-Talavera, thus paving the way for improved services for the residents of the municipality. LGU-Talavera has gradually improved its public financial performance in 2014-2018. PFMAT is therefore an effective tool for evaluating public finances to strengthen the town's financial capability, thereby enhancing the overall performance of the LGU.
Procurement Case Study - Chile
Jorge Claro, President and CEO, International Procurement Institute
The International Procurement Institute, together with the Graduate School, USDA, present
this session focusing on a recent procurement assessment conducted in Chile. Mr. Claro
will provide an overview of how the OECD/DAC assessment was applied in a country
procurement assessment report conducted in Chile. The session will conclude with an
interactive discussion on the environment required for successful application of the tool
and issues that should be anticipated while conducting the benchmarking.
Financial Sector Strategies for Public Financial Managersicgfmconference
Debra C. von Koch, Associate Director for Government Debt Issuance and Management,
Office of Technical Assistance, United States Department of the Treasury
“Financial Sector Strategies for Public Financial Managers”
The presenters will discuss strategies and tactics that can be utilized in responding to
current financial sector and debt market challenges.
We welcome the decision by the International Public Sector Accounting Standards Board (IPSASB) to review the Cash Basis IPSAS, but we are reminded of the story of the pedestrian who was asked by a motorist for directions, and replied, “If I was you I wouldn’t start from here...”.
“Public Procurement Reform and Importance in the
Current Economic Climate”
Pamela Bigart, Lead Procurement Specialist, World Bank
Ms. Bigart will speak about the importance of Public Procurement Systems in how public
money is spent, overall spending in procurement in different countries, the role of technology
in improving procurement processes, as well as specific procurement reforms.
This presentation was delivered on July 22, 2020. For more information, or to watch the full webinar, please visit: https://www.ifac.org/knowledge-gateway/contributing-global-economy/discussion/securing-sustainable-finances-advancing-global-approach
This presentation was made by Delphine Moretti, OECD Secretariat, at the 18th Annual Meeting of OECD Senior Financial Management and Reporting Officials held at the OECD Conference Centre, Paris, on 1-2 March 2018
The IS design includes all components the IS function requires to operate effectively and efficiently in the future. The dependencies and interfaces between IS and other corporate functions and any potential overlaps need to be dealt with as part of the GOF programme of work.
Join senior members from the OECD's Centre for Tax Policy and Administration (CTPA) as they give the latest update on the OECD/G20 BEPS Project.
Topics covered:
- Progress report on the BEPS deliverables
- Discussion drafts and public consultations (consult the updated calendar)
- Developing countries’ engagement and input
- Schedule for release of finalised BEPS package
Publilc sector productivity - Johannes Wolff, United KingdomOECD Governance
This presentation was made by Johannes Wolff, United Kingdom, at the 12th Annual Meeting on Performance and Results held at the OECD, Paris, on 24-25 November 2016
Information Technology Infrastructure Roundtable Meeting on June 11th, 2014: Update on priorities and activities presentation given by Liseanne Forand, President of Shared Services Canada.
Delivering on results - Evidence-based decision making through better metrics...OECD Governance
Presentation by Kiran Hanspal, Canada, at the 11th annual meeting of the OECD Senior Budget Officials Performance and Results network, Paris, 26-27 November 2015.
The APM Enabling Change SIG held their AGM meeting on Monday 29th June 2015 in London.
After the AGM portion of the evening, there was a presentation from Simon Williams and Steve Foster from Transport for London (TfL) which served as a follow-on from another presentation earlier in the year.
Delegates were treated to an update on the huge transformation which has been going on at TfL, including this video: https://www.youtube.com/watch?v=57rm5jnw8MY
Integrating Climate Change Information into Mainstream Corporate Reports, EU ...CDSB
New environmental regulations are being discussed in the European Union and there are broader moves towards integrating non-financial with financial reporting for investors and other stakeholders. CDP is working closely with climate data and non-financial reporting experts the Climate Disclosure Standards Board (CDSB), as well as industry experts, to support companies in preparing for these developments.
We invite you to join us for a webinar to show how companies can place their climate change information into their annual financial reports – using CDSB’s Reporting Framework. You will hear perspectives from regulators, business, advisers, investors and non-financial reporting experts, as well as CDSB technical staff.
Chair: Lois Guthrie – Executive Director, CDSB
Regulatory Context: Ilaria Miller – Head of Corporate Governance, UK Department of Business, Innovation and Skills
CDSB Framework: Patrick Crawford - Corporate Engagement, CDSB
Corporate perspective: Jane Thostrup Jagd – Director, Control Compliance officer, A.P. Moller-Maersk Group
Preparation: Aissata Touré – PwC (Germany)
Presentation: Jonny McCaig – Radley Yeldar
Investor perspective: Francois Passant – Executive Director, Eurosif
A flagship CTO event, this has grown into a platform for knowledge-sharing among peer groups steering ICT projects in e-delivery of health care, education and governance. This Forum echoes the Commonwealth's 2013 theme: The Road Ahead for Africa.
Similar to Day3 sp1-2 carruthers-icicgfm_accrualadoption_ukexperiences_en (20)
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. cipfa.org
Phasing the accrual transition
― Entities
― Transaction / account areas
Managing the accrual programme
― Central vs local
― Building quality and compliance
Embedding accrual in decision making
― PFM frameworks
― Culture change
Accrual adoption:
Learning from the UK experiences
3. cipfa.org
Phasing the accrual transition – Entities (1):
Gradual adoption across public sector
• Public corporations – commercial accounts
• Local government – partial then full accrual
• NHS providers – accrual from creation
• Central government – departments last to implement
accrual at organisational level
• Public sector consolidation – Whole of Government
Accounts (WGA)
4. cipfa.org
Phasing the accrual transition – Entities (2):
Why publish WGA? - The benefits
• more complete - provides a more complete picture of
UK’s finances - as includes provisions (e.g. nuclear),
pensions, contingent liabilities, future contracts (PFI)
• decision making - can support longer-term fiscal
decision making – better quality information for ONS
• improve efficiency - drives conversion of accounting
practices and aligning processes. Highlights
discrepancies in interpretations of accounting standards
• transparency – ‘making public data public’
• accountability - improves accountability to Parliament
- as the only audited set of data across the public
sector
5. cipfa.org
UK WGA 2013-14
Net public service
pension liability
£1,302 bn
Government financing
£1,096 bn
Other liabilities
and provisions
£791 bn
Net liability
£1,852 bn
Property, plant
and equipment
£763 bn
Other assets and
equity investments
£574 bn
Liabilities Assets
6. cipfa.org
Whole of Government Accounts:
Reconciliation of public sector net debt
2013-14 2012-13
£bn £bn
Net liabilities 1,852 1,630
Net public service pensions liability (1,302) (1,172)
Provisions (142) (131)
PFI contracts (33) (32)
Unamortised premium or discount on gilts (29) (31)
Tangible and intangible fixed assets 763 747
UK Asset Resolution (UKAR) net impact on net debt 74 83
Payables and receivables 33 29
Investments 23 27
Network Rail 34 34
Asset Purchase Facility 45 44
Other 84 71
Public sector net debt (National Accounts) 1,402 1,299
7. cipfa.org
2013-14 2012-13
£bn £bn
Net deficit for year (WGA) 149 179
Public service pensions (49) (48)
Depreciation and Impairment of assets (18) (16)
Capital grants (11) (12)
Provisions (10) (16)
Net gains/losses on sale of assets 4 (3)
Other 8 -
Current deficit (National Accounts) 73 84
Whole of Government Accounts:
Reconciliation of current deficit
8. cipfa.org
Phasing the accrual transition – Entities (3):
Building WGA coverage – project timeline
Central
Government
Departments;
NDPBs; and
Devolved
Administrations
Local Authorities;
NHS Trusts;
Public corporations
01-02
02-03
03-04
04-05
06-07
05-06
07-08
09-10
08-09
9. cipfa.org
Phasing the accrual transition:
Transactions / account areas:
• Accrual for individual entities covers:
– Income (local taxation & charges for services)
– Expenditure
– Debtors and creditors
– Property plant & equipment
• Extension to WGA required accrual accounts for:
– Taxation (Income and Corporation Taxes, VAT etc)
– Debt and currency /gold reserves
– Employee pension schemes
10. cipfa.org
Managing the accrual programme (1):
IPSASB Study 14 – Success features
Clear mandate
Political commitment – major project
Commitment of central entities and key officials
Use of legislation
Effective project management structure
Adequate technological capacity and information
systems; and
Adequate resources (human and financial)
11. cipfa.org
Managing the accrual programme (2):
Central vs Local: Leadership
Small HM Treasury project team
Composition evolved with project
Policy and legislation responsibilities
Developed programme framework – timetables
and milestones
Programme management – monitoring and
addressing emerging issues
Stakeholder management - promotion and
progress reporting
12. cipfa.org
Managing the accrual programme (3):
Central vs Local: Entity-level systems
• Departmental choice:
– New System?
– Bespoke or off-the-shelf?
– New procedures?
• HM Treasury role:
– Project team set timetable and high level output
requirements
BUT
– No central system guidance
– No Standard Chart of Accounts
13. cipfa.org
Managing the accrual programme (4):
Central vs Local: HMT Systems
• Implemented new consolidation system
• Excel consolidation packs
• Departmental sub-consolidations
• Addressed lack of data standardisation through
• Accounting guidance changes
• Developing Standard Chart of Accounts (SCoA)
• Original consolidation system re-implemented to
integrate 3 HMT systems (COINS)
• Estimates, budgets, in-year reports, ONS data as
well as WGA
14. cipfa.org
Managing the accrual programme (5):
Central vs Local: Systems development
• Standard Chart of Accounts (SCoA) only used for HMT
data collection
• New transparency / transaction publication requirements
• COINS performance problems – complexity of framework
pre-alignment
• OSCAR replacement – top level SCoA
• Aiming for Common Chart of Accounts (CCoA) for all
departments
• Improved transparency, data consistency and
comparability, plus efficiency improvements.
15. cipfa.org
Managing the accrual programme (6):
IPSASB Study 14: Reform periods
• Short (1-3 Years) – strong political support; few
entities
• Medium (4-6 years) – increased preparation and
implementation time
• Long – (6+ years) – risk of ‘reform fatigue’.
16. cipfa.org
Managing the accrual programme (7):
CG Accrual accounts and budgets
• 1994 discussion paper
• 1996 policy adopted
• 1999 ‘Dry run’ accrual accounts
• 2000 first accrual accounts published
• 2001 last cash accounts published
• 2001/02 first accrual budgets; and
• 2003/04 full accrual budgets (including depreciation
and provisions)
18. cipfa.org
Managing the accrual programme (9):
Improvements in timeliness
• Average time to submit accrual accounts to Parliament:
2000 310 days
2001 255 days
2004 210 days
• By 2010 all accrual accounts laid within 110 days of year
end (pre Summer Parliamentary Recess)
19. cipfa.org
Managing the accrual programme (10):
WGA data problems
• Development of 1500 body consolidation from
scratch
• Data submission rates built gradually
• Poor timeliness
• Poor data quality
• Identification and agreement of intra-government
balances and transactions – large discrepancies
• Integration with other Treasury systems – COINS
20. cipfa.org
Embedding accrual – PFM frameworks (1):
Accrual accounting policies
• Government Resources and Accounts Act 2000
• IFRS adapted where necessary for public sector
• Adaptation process and criteria
• IPSAS as reference source (95% compliant)
• Financial Reporting Advisory Board oversight
• Annual FRAB reports to Parliament
21. cipfa.org
Embedding accrual – PFM frameworks (2):
Benefits of accrual budgeting
• Alignment of performance and accountability
frameworks – what gets measured gets managed!
• Improved risk management and stronger value for
money incentives
• Focus on asset management
• Management of working capital
• Transparent system with a single set of rules and
numbers
• Less complexity if budgets and accounts are fully
aligned……
22. cipfa.org
Then
Estimates Budgets
Accruals Accounts
0 58
357
-3.8
86 71
0
Then … and Now
0 0
470
22
0 0
0
Embedding accrual – PFM framework alignment
Amounts included under each framework (£bn) for departments’ 2008-09 resource plans.
Excludes devolved administrations.
23. cipfa.org
Embedding accrual – Culture change (1):
Building the skills
• Limited accounting expertise initially
• Training decentralised
• Some centrally-written guides
• Gradual management and external financial reporting
improvements:
– Quality and timeliness.
• Mainstream role for Finance
• Increased number of qualified accountants
• Qualified Finance Directors on Department Boards (by
2007)
24. cipfa.org
Embedding accrual – Culture change (2):
CIPFA Role of CFO Statement
www.cipfa.org.uk/panels/finance_director/
25. cipfa.org
Embedding accrual – Culture change (3):
CIPFA Role of CFO Statement
The CFO in a public service organisations:
1. is a key member of the Leadership Team, helping it to develop and implement
strategy and to resource and deliver the organisation’s strategic objectives
sustainably and in the public interest;
2. must be actively involved in, and able to bring influence to bear on, all material
business decisions to ensure immediate and longer term implications,
opportunities and risks are fully considered, and alignment with the organisation’s
overall financial strategy; and
3. must lead the promotion and delivery by the whole organisation of good
financial management so that public money is safeguarded at all times and used
appropriately, economically, efficiently and effectively.
To deliver these responsibilities the Chief Financial Officer:
4. must lead and direct a finance function that is resourced to be fit for purpose; and
5. must be professionally qualified and suitably experienced.
26. cipfa.org
Embedding accrual – Culture change (4):
The CIPFA FM Model
• Strong FM as corporate responsibility
• Is financial management where we want it to be?
• Identifies priority areas for improvement
• Allows tracking over time
• Can be used to benchmark between organisations
• Can test organisational leaders skills in financial
management
www.cipfafmmodel@cipfa.org.uk
27. cipfa.org
Accrual adoption:
Conclusions from UK experiences
• Accrual accounting and budgeting have improved
transparency and PFM
• Need for phased approach – entities and account areas
• Time required for reforms – but not too much!
• Medium term approach (4-6 years) works well
• Coordinated programme from start to avoid
unnecessary problems (and costs)
• Benefits maximised by PFM framework alignment
• Need to change culture as well as systems
• A long and continuing journey …