The Chartered Institute of Public Finance and Accountancy (CIPFA) has commented on the Audit Commission’s Tough Times report. The report finds that although councils face a real terms loss of total income of £4.7 billion (7.5 per cent) this financial year (2011/12), auditors felt nine out of ten councils are well prepared for this and will deliver their budgets.
The report goes on to illustrate the critical importance of sound financial management in local government.
Alison Scott, Assistant Director of Local Government Finance Policy at CIPFA, commented,
“Local government has done exceptionally well in managing the job so far. But in the face of further reductions in funding, councils need to ensure that their financial management remains of the highest possible standard. CIPFA can offer significant support in achieving this.”
CIPFA Press Office
T: 020 7543 5600
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. Our 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed. As the world’s only professional accountancy body to specialise in public services, CIPFA’s portfolio of qualifications are the foundation for a career in public finance. They include the benchmark professional qualification for public sector accountants as well as a postgraduate diploma for people already working in leadership positions. They are taught by our in-house CIPFA Education and Training Centre as well as other places of learning around the world. We also champion high performance in public services, translating our experience and insight into clear advice and practical services. They include information and guidance, courses and conferences, property and asset management solutions, consultancy and interim people for a range of public sector clients. Globally, CIPFA shows the way in public finance by standing up for sound public financial management and good governance. We work with donors, partner governments, accountancy bodies and the public sector around the world to advance public finance and support better public services. This includes the development of local professional qualifications in African countries like Lesotho and Nigeria and in Europe in post conflict states in the Balkans.