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

2. 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

3. Role of the CFO

5. 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

6. To deal more explicitly with partnerships and third party provision. Revised statement to be published late 2014. Currently seeking initial views and thoughts. Wider consultation over the summer. Role of the CFO – Revised Statement

7. cipfa.org Alison Scott Assistant Director, Policy and Technical CIPFA E: alison.scott@cipfa.org www.cipfa.org Questions / Discussion

8. 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

9. 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

10. Alison Scott Assistant Director, Policy and Technical CIPFA E: alison.scott@cipfa.org www.cipfa.org Questions / Discussion