CPA Australia is one of the world's largest accounting bodies. It has a global membership of more than 150,000 members working in 120 countries around the world, and more than 25,000 members working in senior leadership positions. Their core services to members include education, training, technical support and advocacy.
CPA Australia offers CPA members the opportunity to reflect on current challenges facing the public sector with the CIPFA FM Model – and the good practice it promotes.
CIPFA's Neil Vincent, Head of Training and Consultancy, and Des Pearson, PFM Advocate from CPA Australia, explain why the FM Model is crucial to public sector organisations.
Government Finance Officers Association (GFOA)
The Government Finance Officers Association was founded in 1906. It represents public finance officials throughout the US and Canada. The association's more than 18,000 members are federal, state/provincial and local finance officials. They are involved in planning, financing and implementing thousands of governmental operations in each of their jurisdictions. The GFOA's mission is to enhance and promote the professional management of governmental financial resources. The GFOA has accepted the leadership challenge of public finance.
CIPFA worked closely with the GFOA giving access to the CIPFA FM Model self-assessment tool. Lots of members across America and Canada have been using the diagnostic tool to scrutinise their financial management framework against the best practice.
One practitioner, Mike E Bailey from Redmond, Washington, US, shares his thoughts on the value of putting your current frameworks under the microscope to find out how robust they are. Read more.
New Zealand Treasury
Established in 1840, the Treasury is one of New Zealand’s oldest institutions. Initially the Treasury consisted of just a few officials responsible for managing the government’s day-to-day financial affairs. Today the Treasury employs over 300 people, is the government’s lead advisor on economic and financial policy, and has the overall vision of helping governments achieve higher living standards for New Zealanders.
During 2013 the New Zealand Treasury implemented a new process to offer assurance on internal control in governmental departments. CIPFA's FM Model was used to help departments understand where they might not be aligned with department's risk appetite.
The CIPFA TICK was adapted from the CIPFA FM Model. The framework examines nine principles of good practice for evaluating and improving internal control systems, focusing on areas where the practical application of internal control often fails in many organisations.
New Zealand Treasury
Abu Dhabi Accountability Authority (ADAA)
ADAA is primarily responsible for enhancing and promoting transparency and accountability across Abu Dhabi government and public entities, ensuring that they manage and utilise their resources and funds efficiently, effectively, economically, ethically and in alignment with achieving the overall vision of Abu Dhabi.
The Authority aspires to be one of the top five accountability authorities in the world. So best practice in governance, auditing methodologies, performance assurance, training and development and benchmarking are crucial.
CIPFA worked closely with ADAA FAPRG employees delivering a comprehensive workshop to employees. The main objective was to share the information about how to apply the self assessment tool so that it provided an effective audit/assurance tool. Their primary use was to use the FM Model tool as an external audit tool covering all state entities. This was applied to some key departments including health, transport and their national bank.