By Neil Vincent, Head of Training and Advisory Services
Nearly all of the main government departments have now undertaken a CIPFA financial model review since 2012 under a mandate set out by the HM Treasury, helping those organisations to accurately pinpoint their financial management strengths and development areas against a framework of best practise. This has allowed them to create a clear and concise action plan to help them improve towards achieving world class financial management.
The CIPFA FM Model is the most comprehensive tool of its kind and has been used by all of the UK public sector as well as countries around the world to improve public financial management. Every organisation should strive to improve their financial management as it is the foundation of a well-run organisation. And it will help managers deal with the pressures of balancing limited resources with increasing demands on services. The FM Model will help to re-focus on the priorities, whilst managing risk and improving performance.
Tried and tested
CIPFA’s FM Model is structured to assess the health of financial management across the whole organisation. It is structured around three styles of financial management; securing stewardship, supporting performance and enabling transformation. It helps to pinpoint those areas that are essential in safeguarding those assets and demonstrate accountability, to the aspirations of top quality organisations. So if you want a health-check that will help to identify and plan improvements then we would like to help.
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Why not speak to us today, book an appointment with one of our experts to understand how we can help you.
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Hear from the expert
Stuart Fair, Senior Finance Advisor at CIPFA, talks you through the features of CIPFA's new web-based FM Model in the video below:-