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Full webinar slide from 2014-03-04
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Reflections from an International
Financial Management Professional
Welcome to the Financial Management Institute WebinarTuesday, March 4, 2014 12:00pm EST
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Presenter:• Kevin Ross, Financial Reporting and
Performance Manager for Infrastructure UK, HM Treasury, Government of the United Kingdom
Moderator:• Suzanne Godbehere, Head of the
Association of Chartered Certified Accountants Canada (ACCA Canada)
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Key issues and challenges facing Government financial professionals – a UK central
government perspective
Kevin Ross FCCAFinancial Reporting and Performance
ManagerInfrastructure UK, HM treasury
Outline of discussion• Brief introduction• UK central government• The main challenge: more for less (and of
high quality!)• Meeting the challenge - the financial officer
role • Accountability and reporting – who and how?• The role of public sector shared services• The future...
Introduction• Qualified ACCA working for UK Prison
Service• HM Treasury – introducing accruals
accounting central government departments
• Commission for Racial Equality - Finance, IT and Facilities Management
• HM Treasury – Financial Accounts, Governance, Benchmarking
• HM Treasury, Infrastructure UK – Finance and Performance
UK central government• Departments and their agencies
responsible for putting government policy into practice
• Gov.uk – 46 departments, 23 non-ministerial departments, 300+agencies/public bodies
• Certain aspects devolved to Scotland, Wales and Northern Ireland
• Contrast with UK local government – various structures by area
The main challenge...• Budget
“Spending Round 2013: next stage in government’s plan to move from rescue to recovery"
https://www.gov.uk/government/topical-events/spending-round-2013
The main challenge...• Efficiency savings
Efficiency Reform Group:2013 to 2014 priorities include:• to work collaboratively with departments to make savings of
at least £12 billion in 2013 to 2014 • to support departments to innovate, digitise and use new
commercial models to improve how public services are delivered
• to minimise losses due to fraud and error in the distribution of benefits and grants and improve collection of debts owed to government
• https://www.gov.uk/government/organisations/efficiency-and-reform-group
Meeting the challenge...• Financial Officer role
- The Government Finance Profession
- Financial competences for all staff
- National Vocational Qualification (NVQs)
Accountability and reporting• Parliament
- Select Committees- Public Accounts Committee
http://www.parliament.uk/• Citizen
- Transparencyhttp://www.gist.cabinetoffice.gov.uk/
Public Sector Shared Services• Next Generation Shared Services – the
Strategic Plan“The Next Generation Shared Services Strategic Plan presents how central Government intends to implement, operate and manage back office transactional services across departments and arms length bodies.”
https://www.gov.uk/government/publications/next-generation-shared-services-strategic-plan
Context• Ministers expect sound business cases and quality financial
information supported by appropriate due diligence when making decisions on Cabinet proposals and their proposed use of resources.
• The current cost containment environment requires continued CFO vigilance in reviewing Cabinet submissions.
• Real interest in developing guidance for the CFO community to ensure a uniform approach to providing attestations, and a common understanding of processes and requirements.
• The implementation of the new guideline will be closely monitor by central agencies and these will provide the necessary support to departments and agencies. 12
The future...• Recruitment and retention –
specialist skills
• The Digital Vision
• International dimension
• What next...?
Questions and Answers
Be sure to tune in to next month’s webinar!• Keynote address from the Performance and
Planning Exchange Symposium• Presenter: Jan Washburn, Chief of Strategy
Management for the Government of New Brunswick
• Thursday, May 22nd, 2014 at 3:00pm EST