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CIPFA, the Chartered Institute of Public Finance and Accountancy, has received an unprecedented level of response to the consultation on its proposals to launch a local government financial resilience index.
In early July, CIPFA launched a consultation on its proposal to measure the financial resilience of English local authorities. Over a seven-week period, CIPFA received a wide range of views on the methodology, design and presentation of the index.
Since the consultation closed on 24 August, CIPFA has been carefully analysing the responses it has received. The Institute will issue its analysis of those responses by early October, along with clarification on next steps; and in the meantime continue to engage sector representatives and finance leaders.
Chief Executive of CIPFA, Rob Whiteman, said: “We are positively blown away by the scale and quality of the responses we have received, which shows the importance of the subject and that debate is much needed.
“The many thoughtful and insightful comments will help us create a tool that works for individual local authorities and strengthens the sector.
“As important for us, as a body representing professionals who owe a direct duty to the public to act in their interest, is the welcome and quite widespread feedback that we are right to prompt much needed debate where we believe it’s needed.
“CIPFA will always play a leading role in lobbying for more resources for councils, but the consultation has demonstrated that accountants also play a unique role at times to provide uncomfortable challenge.”
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CIPFA is the professional body for people in public finance. It represents approximately 14,000 members who are public finance leaders and officials in the United Kingdom and overseas, specialising in high quality public financial management and governance for organisations in, and providing support to, government and public services. Its members work throughout the public sector, in national audit agencies, in major accountancy firms, and in other public and private sector 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 is the foundation for a career in public finance. It also champions high performance in public services, translating its experience and insight into clear advice and practical services. Globally, CIPFA shows the way in public finance by standing up for sound public financial management and good governance.