PUBLIC SECTOR
FINANCIAL MANAGEMENT
MODEL

Vision

OPTIMISE YOUR SYSTEMS, PROCESSES, RESOURCES, COMPLIANCE AND REPORTING

An internationally recognised framework and diagnostic tool, the Chartered Institute of Public Finance and Accountancy (CIPFA) Financial Management Model allows you to benchmark your financial management systems and processes against world class best practice for public sector finance.

• Profile your organisation’s strengths and development areas
• Support your organisation’s growth objectives
• Proactively manage risk


networking

BEST PRACTICE PUBLIC SECTOR FINANCIAL MANAGEMENT

CPA Australia has partnered with the Chartered Institute of Public Finance and Accountancy (CIPFA) in the UK to provide public sector organisations in Australia, New Zealand, Asia and the South Pacific with an internationally recognised framework and a measurement tool.

Best Practice Financial Management

We measure the financial maturity of your organisation at three levels:

1. Enabling transformation: The finance team operates as business partners and has input into strategic and operational plans, with a focus on proactive risk management, clear strategic directions and focus-based outcomes.

2. Supporting performance: The finance team is committed to continuous improvement and focuses on efficient and effective delivery and organisational performance.

3. Delivering accountability: Financial information is accurate, timely and focuses on controls, probity, compliance and accountability.
Best practice FM diagram

A Regular financial management health check

Use the CIPFA online diagnostic tool every two years to measure your organisation’s strengths and development areas across the whole organisation, including processes, people, leadership and stakeholders. Develop and implement a target-driven improvement plan and monitor progress closely. Complete the self-assessment regularly to ensure your financial management system is world class.

See how AFSA uses the CIPFA FM Model.

ACCOUNTABILITY, PERFORMANCE AND TRANSFORMATION

The CIPFA FM Model takes an integrated view of public financial management, providing leaders, managers and stakeholders with the measures to promote wise spending, tackle corruption and contribute to the economic growth of the country. It is through the efficient and effective use of public money that public financial management drives performance.

“GOOD FINANCIAL MANAGEMENT RELIES ON A COLLABORATIVE RELATIONSHIP BETWEEN FINANCE STAFF, BUDGET HOLDERS AND STAKEHOLDERS”

The Chartered Institute of Public Finance and Accountancy

Financial Management Transformation

Use the CIPFA FM Model as a catalyst for change. Once your organisation’s strengths and weaknesses have been identified, we can help you meet your growth objectives through fully facilitated training.

See how the City of Melbourne took their findings further.

IMPLEMENT IN A WAY THAT’S RIGHT FOR YOUR ORGANISATION

 
Assessment

SELF-ASSESSMENT

A 24-month licence to implement the CIPFA FM model into your organisation, from $10,000 (ex-GST)

Additional CPA Australia consultant support is also available.




Appendix

FULLY FACILITATED INDEPENDENT REVIEW

Full implementation and management of the assessment, including facilitation of interviews, full report and recommendations, undertaken by our expert consultants.


CONTACT US TODAY TO START THE CONVERSATION
cls@cpaaustralia.com.au or contact one of our consultants.