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21 Jun 2010
Almost 80% of government finance divisions do not think of themselves as business partners to the rest of their departments, as they brace themselves for spending cuts across the public sector.
A PwC survey of 60 public sector divisions found that 78% did not think the finance function had a hand in designing, influencing or executing strategy.
In the run-up to sweeping public sector cuts, respondents said finance functions would need to be well-developed and fully enabled with supporting tools, resources and skills to be genuine business partners.
"Taken together, our research confirms our view that finance has some major challenges ahead," PwC said.
"And there is still a considerable way to go for finance generally to own its place at the top table as a fully integrated partner to the business."
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Visitor comments Add your comment
Why are FDs undervalued?
Two contributory factors might be that central govt seem to value economists more than finance staff; and many FDs literally don't have a seat at the top table - are not on the relevant Board for their organisation. Presumably they are in the background supporting the head of the organisation with information and advice to help formulate strategy - but those PwC stats seem to refute this. CIMA discuss some of these issues in our new report on performance management in the public sector which can be found at www.cimaglobal/publicsector
Posted by: Louise Ross, Performance Mgt Specialist, 22 Jun 2010 | 00:00
FDs in public sector
(this relates to the comment I posted yesterday) CIMA's report "New Public Sector performance management: making fiscal consolidation smarter" can be viewed or downloaded at www.cimaglobal.com/publicsector
Posted by: Louise Ross, 24 Jun 2010 | 00:00
The Future Devolopment of Public Sector Finance Functions
Developing and promoting this partnering role is a key strand of activity for the Public Sector Performance Management Forum (PSPMF). It has recently published two white paper style reports that provide practical advice for public sector bodies. These are entitled ?The Future of the Finance Function?? and ?Public Sector Performance Management?. They can be downloaded free of charge from www.pspmf.org.
Posted by: John Thornton, 28 Jun 2010 | 00:00