learning and development

An Overview of Open Book Accounting

A one-day course providing a solid grounding in the basic principles and concepts of open book accounting, plus practical tips on its application in managing the operation of contracts.

How to book

Contact us on E: InHouseTraining@cipfa.org or T: 020 7543 5600.

About the programme

Open book accounting is not just about accounting, it is about smarter procurement and contract management processes.

Open book accounting offers a transparent and fair way of procuring and delivering services in the public sector. The concepts and principles supporting it are increasingly being seen as key to successfully driving efficiency in cost reimbursable or target price construction and works contracts.

This one-day training course will give you a good grounding in the basic principles and concepts of open book accounting as well as practical tips on its application in managing the operation of contracts.

Who is it for?

The course is ideal for managers, procurement and financial professionals.

Format and duration

The course includes facilitated group discussions and exercises using case studies and examples.

The day normally begins at 09:30 and ends at 16:00 with breaks for lunch and refreshments. This can be adjusted, depending on your needs.

Course content

Below is the typical course outline, which can be tailored to meet your and your team’s needs.

  • The context for open book
  • The history and principles of open book processes
  • Where open book is appropriate and the advantages/disadvantages of the approach
  • Overview of the open book processes
  • The end to end process, who is involved and the roles they play
  • Risks and pitfalls in the procurement and initiation of an open book contract
  • Management of open book contracts to improve performance
  • Open book contract management including managing change and variations
  • Cost reduction strategies and incentives
  • Good governance
  • Audit strategies and implementation to ensure governance and risk management are in place and effective

This courses carries 7 CPD hours

All CIPFA training counts towards your continuing professional development (CPD). If you are a CIPFA Chartered Member, you are required to undertake a minimum of 20 hours of relevant CPD activity each year as part of maintaining your professional competence and to develop skills and knowledge.

For full details visit: www.cipfa.org/cpd

Extend your learning

If you are interested in developing your knowledge further, have a look at our three-day accredited course on open book processes.

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