Features and benefits

CIPFA's Financial Management (FM) Model provides an assessment of overall organisational financial management capability and provides the finance function with focus.

CIPFA's FM Model has been refreshed and updated for the realities of the new public sector and revised to make it a more streamlined, user-friendly online experience.

After extensive consultations with professionals across the public sector, the FM Model is better than ever. It will help your organisation identify weaknesses within your organisation's financial management, helping you to develop and implement a target-driven improvement plan.

The unique benefits of the FM Model version 4

  • It allows you to get a better understanding of the strengths and weaknesses of your financial management.
  • It is the only public sector-specific financial management framework and diagnostic tool.
  • It offers a powerful online self-assessment tool for flexible, convenient self-assessment.
  • It applies to beyond the finance function – it highlights areas for improvement that are otherwise difficult to identify.
  • It spans the full spectrum of financial management including strategy, audit, reporting and stakeholder confidence.

When should you use the FM Model?

The FM Model can be used at any time but organisations so far have found it especially helpful where:

  • assurance is required on optimising budgetary resources
  • there has been audit or inspection criticism of financial management; the FM Model can help set the action plan and provide confidence that the issues raised are being dealt with effectively
  • there are areas of specific concern, like efficiency gains or financial management competencies; the FM Model can be used in a targeted way to highlight the actions needed
  • there is a new CFO; the FM Model can provide a stock take of financial management and help establish priorities for change.