WORLD DEVELOPMENT REPORT 2024 - Economic Growth in Middle-Income Countries.
Reflections from an International Financial Management Professional
1. Welcome to the Financial Management Institute
TuesdayW, Mearbchi 4n, a20r14 12:00pm EST
Reflections from an
International Financial
Management Professional
2. 2
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)
3. 3
Key issues and challenges facing
Government financial professionals –
a UK central government perspective
Kevin Ross FCCA
Financial Reporting and Performance
Manager
Infrastructure UK, HM treasury
4. 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...
5. 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
6. 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
7. 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
8. 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
9. Meeting the challenge...
• Financial Officer role
- The Government Finance Profession
- Financial competences for all staff
- National Vocational Qualification (NVQs)
10. Accountability and reporting
• Parliament
- Select Committees
- Public Accounts Committee
http://www.parliament.uk/
• Citizen
- Transparency
http://www.gist.cabinetoffice.gov.uk/
11. 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/n
ext-generation-shared-services-strategic-plan
12. 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
13. The future...
• Recruitment and retention – specialist
skills
• The Digital Vision
• International dimension
• What next...?
14. 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