role of the cfo simplification of reporting alison scott policy and technical assistant director,...
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Role of the CFO Simplification of Reporting
Alison ScottPolicy and Technical Assistant Director, CIPFA
CIPFA Conference
2 July 2014
• To promote the role and importance of the CFO
• To be the definitive source on CIPFA’s expectations of members in the role
• To provide guidance
Statement on Role of the CFOAims
Role of the CFO
Role of the CFO
• Joint management teams.
• Support services provided through either public service joint arrangements or through outsourcing.
• Services provided through third parties.
• Potential for conflicts of interest.
Role of the CFO – Current Issues
• To deal more explicitly with partnerships and third party provision.
• Revised statement to be published late 2014.
• Currently seeking initial views and thoughts.
• Wider consultation over the summer.
Role of the CFO – Revised Statement
cipfa.org
Alison ScottAssistant Director, Policy and TechnicalCIPFAE: [email protected]
www.cipfa.org
Questions / Discussion
• Long standing projects for both CIPFA/LASAAC and HMT
• Good practice guide December 2013
• Updated “Telling the Story”, July 2014
• CFOs “getting out the red pen”
• Integrated reporting project
• Revised Accounts and Audit Regulations
Simplification of Accounts - Background
• Aims – To make the Statement of Accounts more relevant to the
individual authority.– To improve accessibility and promote understanding– To maintain financial reporting standards
• Suggested approach– Look for opportunities to cut out immaterial information– Implement Narrative Reporting– Align the CIES with individual authority budget structures– Take a fresh look at MiRS
Simplification of Accounts - Proposals
Alison ScottAssistant Director, Policy and TechnicalCIPFAE: [email protected]
www.cipfa.org
Questions / Discussion