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