Closing accounts is often seen as an unwelcome distraction that takes resources from ongoing public financial management. A case of 'it's more of a reporting chore'. However, it's vital that accounts are closed on time and accurately - and that they fully comply with the latest Code of Practice. Read some expert advice on closing your accounts faster.
CIPFA and EY's flexible solutions relieve you of the time-consuming burden of delivering accounts. So you can free up your indispensable finance resource to add value in business partnering and financial planning. Our support ranges from technical expertise for a specific purpose to a larger and broader review or a fully-managed closedown service.
Benefits of CIPFA help
To achieve your objectives we can helps with three convenient solutions. These can be standalone, blended or tailored for you. Benefits include:
- better utilises skilled resource to add value elsewhere
- complies with Code of Practice legislation without concern
- peace of mind
- removes significant cost
- saves huge amounts of time.
Our flexible solutions
Whether you require an closedown audit to highlight areas of improvement or want to save time and cost savings, CIPFA has tailored solutions that will deliver results:-
Software solution to close accounts at the press of a button
Our specifically designed and Code-compliant accounts software solution - CIPFA Closedown - is a licensed software application designed and built by our local authority experts and global accountancy software specialists. CIPFA Closedown consolidates all ledger entries, other relevant data and required commentary that form the basis for a local authority’s complete statement of accounts at the press of a button.
Consultancy support from our experts
We have expert consultancy and advisory support that can be provided at each stage of the process towards achieving the previously agreed objectives. Whether these objectives reflect technical compliance with the Code of Practice and/or dramatically cutting costs associated with the closedown process, our team can guide you and in a lot of instances roll up their sleeves alongside you to deliver the changes.
Assured managed accounts closedown service for the public sector
CIPFA, together with our partners EY, has developed a fully managed solution that is fully staffed, secure, confidential, reliable and trustworthy. Each year, for typically three to six months, your finance team may be busy consolidating the data required to produce the end of year accounts.
What our customers say
Gwent Police on the software solution and support
"[The software solution] offers valuable automation and helps identify ways to improve processes...The CIPFA consultants were very responsive and able to offer close support."
Download PDF [321KB] case study, click on the icon on left. Or visit the Gwent case study web page.
More case studies coming shortly.