CIMA: Government finance functions unexploited
Public sector finance functions have more to offer than number crunching, CIMA says
FINANCE FUNCTIONS are not being effectively exploited in the public sector, a new CIMA report has indicated.
Central governments are prone to viewing accountants as handy for stewardship and reporting, but neglect their potential to support management and decision making, the institute found.
Head of corporate performance management Louise Ross, said: “Many governments suffer from a shortage of high-quality finance professionals and finance functions that lack strategic influence.
“It is the role of the finance professional – and especially the management accountant – to provide information to support decision making.”
Too many targets and poor decision support make it “difficult to create a robust culture of evidence-based decision making,” CIMA continued, pointing to New Zealand and Singapore as examples of public sector efficiency.