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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Head of editorial Kevin Reed discusses this week's important accountancy news, including Brexit and audit market evolution