RegulationAccounting StandardsCIPFA members to decide on governance overhaul

CIPFA members to decide on governance overhaul

CIPFA outlines a more powerful executive board, in plans for a governance overhaul

CIPFA members to decide on governance overhaul

THE FUTURE OF CIPFA is in its members’ hands, after they were asked to take part in a consultation on a new governance structure.

The review is chaired by CIPFA past president Sir Tony Redmond, and a working party formally began the process in September 2014.

A key plank of the plans include delegating more authority to the executive. CIPFA claims that its council currently deals with too many operational issues, and not enough time is spent on strategy. A more conventional board structure, with executives and non-executives, would sit alongside council.

CIPFA is also looking to give regions more of a voice on council and international representation; replacing the treasurer role with that of a junior VP, allowing a “much clearer” line of responsibility to its CFO and helping spread the ambassadorial workload across its honorary officers.

The CIPFA board will be chaired by its president, while council will be chaired by the vice-president.

Sir Tony Redmond, chair of the working party, said: “In the future, as we see our international profile and reach grow, our governance system will need to be adapted to support the institute’s need over the long-term in the best possible way.

“CIPFA members are at the heart of these developments and we hope they will share their thoughts and recommendations on the review so that together we can build on CIPFA’s achievements for the century ahead.”

The consultation document can be viewed here.

CIPFA chief executive Rob Whiteman was ranked 29 in Accountancy Age’s 2015 Financial Power List.

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