Richard Callender-Reid* looks at how Australia’s public sector can create a global benchmark and achieve financial best practice by exploring the CIPFA Financial Management Model now available from CPA Australia.
How would your organisation’s financial management compare to international public sector best practice?
Does Finance have a seat at the table?
Discover how to profile your organisation’s strengths and areas for improvement, and ultimately enable transformational change, with the Chartered Institute of Public Finance and Accountancy (CIPFA) Financial Management Model.
Used extensively in the UK for more than 14 years, CPA Australia has an exclusive partnership with CIPFA to provide public sector organisations in Australia, New Zealand, Asia, and the South Pacific with the internationally recognised framework, measurement, and self-improvement diagnostic tool.
Designed specifically for the public sector, the CIPFA FM model comprises of a comprehensive and relevant framework to support your organisational journey towards financial management best practice.
The model is a practical, hands-on and simple approach to something that is not simple.
Through anonymous online scoring, face-to-face interviews with key stakeholders and documentation review, assessments are made against a recognised framework for best practice financial management.
The CIPFA FM model highlights capability strengths and gaps, and assesses the maturity of organisational financial management in three ‘vertical’ dimensions: Delivering accountability, Supporting Performance, and Enabling Transformation, while also measuring across four ‘horizontal’ elements, including Leadership, People, Process, and Stakeholders.
The model can be tailored to focus on key areas of financial management to provide a highly relevant ‘heatmap’ and comprehensive report.
The heatmap results in a finance maturity matrix, benchmarked against other public-sector agencies.
This matrix and supporting report articulates strengths and improvement opportunities, offers a roadmap for finance development, and drives your organisation towards world-class financial management.
With two years’ access to the intuitive online tool, organisations can quantify their progress towards world class financial maturity over time.
Access the only financial management model designed specifically for the public sector – encompassing the whole spectrum of financial management – and ensure finance is involved in making strategic decisions to help your organisation thrive.
Until 31 October 2018, CPA Australia is offering a one-hour complimentary consultation and demonstration of the CIPFA FM model, including the CIPFA online tool, report, and heatmap.
Contact our CIPFA consultants today at [email protected], or (03) 9606 9883, to find out more and gain access to their world-class insights.
For more details, visit CPA Australia at this PS News link.
* Richard Callender-Reid is the CIPFA Lead and Corporate Learning Solutions Consultant at CPA Australia, working closely with government, corporate and NFP clients across the Asia-Pacific region to enhance Finance capability.
Richard can be contacted directly at this PS News link.
