Role of the CFO Simplification of Reporting Alison Scott Policy and Technical Assistant Director, CIPFA CIPFA Conference 2 July 2014

To promote the role and importance of the CFO To be the definitive source on CIPFA’s expectations of members in the role To provide guidance Statement on Role of the CFO Aims

Role of the CFO

Joint management teams. Support services provided through either public service joint arrangements or through outsourcing. Services provided through third parties. Potential for conflicts of interest. Role of the CFO – Current Issues

To deal more explicitly with partnerships and third party provision. Revised statement to be published late Currently seeking initial views and thoughts. Wider consultation over the summer. Role of the CFO – Revised Statement

cipfa.org Alison Scott Assistant Director, Policy and Technical CIPFA E: Questions / Discussion

Long standing projects for both CIPFA/LASAAC and HMT Good practice guide December 2013 Updated “Telling the Story”, July 2014 CFOs “getting out the red pen” Integrated reporting project Revised Accounts and Audit Regulations Simplification of Accounts - Background

Aims –To make the Statement of Accounts more relevant to the individual authority. –To improve accessibility and promote understanding –To maintain financial reporting standards Suggested approach –Look for opportunities to cut out immaterial information –Implement Narrative Reporting –Align the CIES with individual authority budget structures –Take a fresh look at MiRS Simplification of Accounts - Proposals

Alison Scott Assistant Director, Policy and Technical CIPFA E: Questions / Discussion