The Chartered Institute of Public Finance Accountancy’s (CIPFA) new President, Sir Tony Redmond, has said that the biggest challenge facing the global finance profession today is the quality of government reporting, auditing and financial management.
Speaking at CIPFA’s Annual Conference in Liverpool on 4 July.
Delivering his inaugural Presidential address to the conference, he said:
“We are committed to bringing about a step change in financial management performance and we are convinced that there is no better time to get this message across.
“We're not talking about financial paracetamol or sticking plasters, this is about getting down to the foundations of good public financial management and making sure that they are cemented in best practice.”
Other conference speakers include:
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Notes to Editors:
About Sir Tony Redmond
Sir Tony has had a long and substantial career in public service, in particular local government. He was Chairman and Chief Executive of the Commission for Local Administration and Local Government Ombudsman for a period of nine years and is currently Local Government Boundary Commissioner for England and also Treasurer of Unicef UK. He was recently appointed the new Chairman of the CCAB. He is a Fellow of the Institute of Revenues and Rating Valuation and a Fellow of the RSA.
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.
About Fixing the Foundations
Fixing the Foundations is CIPFA’s international prospectus aimed at improving global public financial management.
The global financial and sovereign debt crises have highlighted more vividly than ever before the damaging consequences of weak public financial management.
Poor financial management by governments impacts on public services, living standards and life chances. It adversely affects investor confidence, economic performance, and trust in government. And at a time when governments are making crucial decisions of national economic importance, it means that their decisions are based on incomplete, inaccurate, and out-of-date financial data.
These difficulties exist in individual public sector organisations as well as national governments in all parts of the world and at all stages of economic development.
Improving public financial management is therefore a critically important challenge for all governments, requiring concerted and co-ordinated international action at global, regional, national and local levels.
CIPFA is aiming to achieve real impact and deliver outcomes which really matter, high quality public services, economic growth and prosperity, and improvement in life chances. CIPFA aims to work with a range of partners including: international agencies, governments, banks, charitable foundations, accountancy bodies and others.