Public sector financial management tool
About our public sector financial management tools
CPA Australia has partnered with the Chartered Institute of Public Finance and Accountancy (CIPFA) in the UK to create an internationally recognised framework and financial maturity measurement tool for public sector organisations.
How the tool works
An internationally recognised framework and diagnostic tool, the Chartered Institute of Public Finance and Accountancy (CIPFA) Public Sector Financial Management Model allows you to benchmark your financial management systems and processes against world class best practice for public sector finance.
With the tool you can:
- Profile your organisation's strengths and areas needing development
- Support your organisation's growth objectives
- Proactively manage risk
Our export consultants will implement and manage fully the assessment with the tool, including facilitating interviews and providing a full report and recommendations.
The Public Sector Financial Management Model takes an integrated view of public financial management. It provides leaders, managers and stakeholders with the measures to promote wise spending, tackle corruption and contribute to the economic growth of countries it covers.
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"
How we align your level of financial management to best practices
The diagnostic tool measures strengths and development areas across the whole organisation, including processes, people, leadership and stakeholders.
Building on each step of the process we compare the current level of financial management in an organisation against best practice by measuring the financial maturity of your organisation at three levels:
- Delivering accountability: Finance capability is strategic, customer-led, future oriented, proactive in managing change and risk, outcome focused and receptive to new ideas.
- Supporting performance: The finance team is committed to continuous improvement focused on efficient and effective delivery and organisational performance.
- Enabling transformation: The finance team operates as business partners and has input into strategic and operational plans. The focus is on proactive risk management, clear strategic directions and focus-based outcomes.
Organisations we've helped
The Public Sector Financial Management Model can be used as a powerful catalyst for change. Once your organisation's strengths and weaknesses are identified, we help you to meet your growth objectives through fully facilitated training. Find out how this positive change was seen at the Australian Financial Security Authority and the City of Melbourne.
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