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Despite sustainability and transformation plans (STPs) emerging as a good means of addressing the need for financial stability, some strategies drawn up do not include enough substance to prove they are tackling the problems realistically, according to a new report released today (18 November) by CIPFA.
“However, it is of vital importance that STPs fully assess whether the actions proposed can actually meet savings targets and boost the quality of services by doing robust financial planning. STPs are our best shot at making our health and social care sustainable for future generations. Therefore, local leaders and NHS providers must do all they can to ensure that the proposals are deliverable.”
The report’s findings also include:
CIPFA’s STP report, Sorting the Plans, is available available online.
The Chartered Institute of Public Finance and Accountancy (CIPFA) is one of the leading professional accountancy bodies in the UK and the only one which specialises in the public services. It is responsible for the education and training of professional accountants and for their regulation through the setting and monitoring of professional standards.
Uniquely among the professional accountancy bodies in the UK, CIPFA has responsibility for setting accounting standards for a significant part of the economy, namely local government. CIPFA’s members work (often at the most senior level) in the public service bodies, in the national audit agencies and major accountancy firms. They are respected throughout for their high technical and ethical standards and professional integrity. CIPFA also provides a range of high quality advisory, information and training and consultancy services to public service organisations. As such, CIPFA is the leading independent commentator on managing and accounting for public money.