This new publication explores the issues that local public bodies in England are facing in the current economic climate against a backdrop of financial instability, increasing demands for services from an ageing and increasing population, complex structures (both organisational and financial) and weaknesses of effective accountability and governance structures. It looks at the role of local public auditors and those charged with governance in relation to these issues and considers what improvements could be made to enhance trust and confidence in how public money is spent.
Public sector finances
ICAEW members are business and finance leaders working in the public interest for the long-term benefit of the UK economy.
While the majority of our members work in business, many of them also work within the public sector. Building on their expertise and insights, ICAEW supports greater transparency and accountability in public sector finance and provides policy recommendations to ensure tax-payers money is managed wisely.
Latest policy recommendations:
ICAEW provided its expert insights into the UK government's finances for the fourth time, when the Institute of Fiscal Studies (IFS) published its Green Budget on 16 October 2018. Alongside hosting the launch at Chartered Accountants Hall, ICAEW has contributed two chapters examining the UK governments assets and defence spending.
ICAEW welcomes the publication today of the 2016-17 Whole of Government Accounts (WGA).
In its last manifesto, the Labour Party pledged to bring the water, rail and energy sectors back into public ownership, while at the same time introducing a Fiscal Credibility Rule. But is it possible to do both and ensure the sound economic future of the UK? ICAEW has joined forces with the Fabian Society to explore the tough spending choices that would face a Corbyn government.
The role of professional accountants is fundamentally about creating trust. Trust that numbers are correctly stated and that a true and fair account has been produced, showing what money has been raised and how that money has been used.
A decade after the corporate debt crisis, public debt is at an all-time high and continues to rise. The potential for a global public debt crisis should not be ignored. ICAEW shares policy insight.
This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014. It is largely based upon recent experiences by accountancy firms, gained in tendering for NHS Foundation Trusts and other public sector procurements, learning the lessons from these procurement exercises.
In this publication, we explore the role that finance leaders can and should play in managing sustainable public finances. We explore the drivers for strong financial leadership and the skills and competences that, in our view, a strong finance leader should have. Senior leaders, from around the world, provide their thoughts on the importance of strong finance leaders in the public sector.
ICAEW has a new addition to the better government series: a guide for stakeholders working with the UK Central Government Public Financial Management System.
An ICAEW policy insight aimed at helping governments and parliaments understand how good balance sheet management can improve the overall management of the public finances and the questions they should be asking to make the most of their integrated financial reports.