Accounts closedown brochure

Accounts closedown

All authorities must transform financial management functions to achieve excellence and streamline processes; then by closing your accounts sooner you can dramatically reduce costs.

How does the package of support from CIPFA work?

We tailor our support to your specific needs. If you simply need access to a technical expert for a specific purpose or a broader review to identify recommended improvements, contact us today

The beginning of each process to identify improvements begins with a CIPFA expert-led diagnostic or review of current processes, systems, structure, style or culture and skills. 

Once the review is complete, we will provide a report with recommendations that will highlight where to focus efforts to achieve mutually agreed objectives and how these will be achieved.

Consultancy support from our experts

We have expert consultancy and advisory support that can be provided at each stage of the process towards achieving the previously agreed objectives.

Whether these objectives reflect technical compliance with the Code of Practice and/or dramatically cutting costs associated with the closedown process, our team can guide you and in a lot of instances roll up their sleeves alongside you to deliver the changes.

Software solution to close accounts at the ‘press of a button’

Depending on the outcomes of the initial review process, one recommendation could be to implement our specifically designed and Code-compliant accounts software solution known as CIPFA Closedown.

This licensed software application has been designed and built by our local authority experts and our global accountancy software specialist partner. CIPFA Closedown consolidates all ledger entries, other data and required commentary that form the basis for a local authority’s complete statement of accounts at the ‘press of a button’. 

The implementation will follow a user requirements definition developed as part of the consultancy support detailed above.

Assured managed accounts closedown service – a fully outsourced solution

CIPFA, together with our partners EY, has developed an outsourced solution that is fully staffed, secure, confidential, reliable and trustworthy.

Each year, for typically three to six months, your finance team may be busy consolidating the data required to produce the end of year accounts. Our outsourced solution is available for any authority deciding to free up this high level of resource required from its finance team. 

Harnessing the power of standard setters and financial management experts CIPFA, with the expertise and scale of resource available from EY, will guarantee a fully compliant set of accounts delivered when required.

There are potentially large cost savings that can be derived by implementing this totally outsourced solution. We can provide monthly consolidated accounts for review as well as authority-specific requirements. While we have a core solution, augmented aspects can be incorporated and tailored to meet the needs of each authority.

Whether you require an audit of your current accounts closedown process to highlight areas of improvement or wish to reap the rewards of potentially large time and cost savings, CIPFA has a tailored solution that will deliver results.

Call our customer services team today on T: 020 7543 5600 or email us at E: customerservices@cipfa.org.

Benefits

Benefits of the accounts closedown service include that it is:

  • a peace of mind solution
  • removes significant cost
  • better utilises skilled resource to add value
  • complies with legislation without concern
  • saves huge amounts of time.

Access the accounts closedown service

View the recorded webinar


X

contact us

Please fill in this form and we will contact you shortly to discuss how we can help you:

*
*
*
*
*
*

Related Products

Financial Resilience Advisory Report

Giving an independent, informed and insightful opinion to councils on their financial resilience and advice on options to deliver a balanced budget.

Find out more

Financial Management Model

CIPFA’s Financial Management (FM) Model allows finance to transform a public organisation through robust financial management and resilience.

Find out more

Cash Flow Toolkit

CIPFA's Cash Flow Toolkit, updated for 2016/17, is a key tool for many authorities in producing their statement of accounts.

Find out more

Finance Advisory Network

Welcome to the Finance Advisory Network – advising you on finance best practice.

Find out more