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Public Sector Financial Management

Read the latest insights on improving financial management in the public sector, including key findings from the UK National Audit Office, Audit Wales and public auditors around the world. Delve into the issues with ICAEW’s Better Government Series of policy insights that looks at how to improve financial management in the public sector and how to build strong finance leadership to ensure public money is spent wisely on behalf of citizens.
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Local government finance

Skills for the future

  • Hub page
  • 25 Oct 2024
Improving financial skills is critical in balancing the books and delivering value for citizens. As backstop dates for audited accounts come into force, ICAEW explores how local authorities can strengthen their approach to financial management.
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Insights

How a CEO’s pay package influences corporate culture
  • Article
  • 15 Apr 2025
The composition of a CEO’s pay deal can have a direct effect on how a company behaves. Aligning remuneration with corporate operations is key.
Audit Wales has audit delivery improvements in its sights
  • Article
  • 07 Apr 2025
With its Annual Plan, Audit Wales aims to bring the delivery of audit work closer to pre-pandemic timescales, noting it is ‘more important than ever’ to get value for money from public spending.
Chancellor walks tightrope over uncertain landscape
  • Article
  • 27 Mar 2025
Despite welcome improvements to the OBR forecast and positive noises on defence spending and capital investment in the Spring Statement, the economy remains on shaky ground.
Technical round-up: March 2025
  • Article
  • 27 Mar 2025
This month’s top stories feature 300,000 people who no longer need to submit a tax return, 10 tax changes taking effect from this April, and HMRC launching a new agent query resolution service.
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Skills for the future

Improving financial skills is critical in balancing the books and delivering value for citizens. As backstop dates for audited accounts come into force, ICAEW explores how local authorities can strengthen their approach to financial management.

Strengthening financial expertise across local government
  • Article
  • 25 Oct 2024
Marking the launch of a series of best practice case studies, Alison Ring OBE FCA CPFA, ICAEW Director of Public Sector & Taxation, shares the vital role that finance teams play in local government.
How successful finance business partners work at local authorities
  • Article
  • 21 Nov 2024
Finance business partners play a vital bridging role between the finance team and the wider organisation.
How to ensure colleagues understand financial information
  • Article
  • 27 Nov 2024
With local government budgets under pressure and more councils adopting commercialisation strategies, key stakeholders must have a strong grasp of financial information to aid sound decision-making.
How to prepare for an external audit in local government
  • Article
  • 03 Dec 2024
The mounting backlog in the publication of audited council accounts has shone the spotlight on external audit processes in local government.
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Highlights

Public funds fraud cost taxpayers £81bn, NAO says
  • Article
  • 04 Dec 2024
The National Audit Office outlines the impact of fraud and error on public funds, how public bodies can tackle fraud and error and the NAO’s efforts to reduce the impact of fraud.
Protecting public funds: tackling procurement fraud
  • Article
  • 24 Jan 2025
Valued at trillions of dollars per year, public procurement spending is a magnet for fraud. At a recent ICAEW event, leading experts shared insights on how to combat the problem.
MPs sceptical about Office for Value for Money impact
  • Article
  • 23 Jan 2025
A lack of resources, a short lifespan and high risk of duplication has left MPs on the Treasury Committee sceptical about the OVfM achieving its objectives.
NAO guide to aid financial management in government
  • Article
  • 30 Jan 2025
The latest in a series of best practice guides brings together feedback from experts including ICAEW and highlights the need to spend smarter against a backdrop of tight public funds.
Demystifying the role of NEDs in the public sector
  • Article
  • 21 May 2024
Chartered accountants possess many of the skills required to be an effective NED in the public sector. We explain what the role entails, how interested members can find vacancies and why they are so desperately needed.
Whole government response essential to local authorities’ financial sustainability
  • Article
  • 03 Mar 2025
Pressured public services and repeated delays to reform the funding system are contributing to local authorities’ finances becoming unsustainable, National Audit Office (NAO) report warns.

Reports and analysis

ICAEW responds to Fabian Society pamphlet: ‘Prizing the Public Pound’
  • Article
  • 10 Aug 2021
ICAEW engages with the Fabian Society and their pamphlet ‘Prizing the Public Pound’ on local audit and spending effectiveness in central government, in which they call for a future Labour government to reorganise, revitalise and expand public audit in England.
Managing the public balance sheet
  • Article
  • 16 Nov 2017
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.
Public money for the public good
  • Article
  • 05 Jun 2018
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.
The debt of nations
  • Report
  • 17 Apr 2018
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.
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Public Sector Audit and Assurance

Improving the quality of public audit. Becoming a registered local auditor. Assurance for grant-paying bodies

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Public Sector Finances

Insights and analysis on the UK public finances, including the #icaewchartoftheweek.

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Public Sector Financial Management

Our Better Government Series of policy insights looks at how to improve finance leadership and financial management in the public sector.

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Public Sector Financial Reporting

Developments in International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards (IFRS) affecting the public sector.

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Europe and International

Exploring public sector finances and financial management across the globe.

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Learning and Development

How we can help professionals, in the public sector and beyond, develop their skills and advance their careers.

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Further resources

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Public Sector webinars and recordings

Specialist resources and events for the public sector

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Public Sector Community

Free to join and open to non-ICAEW members

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Public Sector Community Newsletters

Latest news from the Public Sector Community

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