Richard Godfrey

“With increasing scrutiny on public sector finances, timely and accurate reporting isn’t optional, it’s essential.” - Steven Porter, Head of Public Sector, Strada See how our Automated ACFR solution is helping teams cut time, reduce risk, and deliver award-quality reports in our latest press release. Read more: https://lnkd.in/eaBq9tvv

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We’ve just taken another important step in strengthening public sector financial reporting. When we introduced IPSAS 46, Measurement, we brought in a new measurement basis, current operational value, designed specifically for the public sector. It presents the value of assets used to deliver services, not to generate cash. Following that release (and an update to Chapter 7 of our Conceptual Framework), we set out to explore how this approach could be applied across existing IPSAS Standards. In August 2024, we shared our draft proposals and invited your feedback. 📐 Today, we're publishing the final pronouncement informed by your insights, Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement: https://lnkd.in/eGvpYDA6

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Our final guide on financial management in government looks at how better reporting can help leaders make informed decisions. https://lnkd.in/ethUVwCi Government organisations need real-time information to respond to shocks and unexpected events. Decision-makers need to rely on financial and non-financial information that not only looks backwards, but also forwards. This is challenging, but presents finance leader with the opportunity to really understand the value of the information they report. Real-time, high-quality reporting in government can inform better decision-making that delivers value for money. Advances in technology provide opportunities for workforces to engage and interact with information that is fit for purpose. Organisations need to make informed decisions and good reporting enables this. This latest guide – the fifth and final in our series - looks at reporting for informed decision-making and completes the financial management lifecycle. It focuses on four principles: 1. Understand the purpose of reporting 2. Set the standard for quality data 3. Modernise reporting systems and processes 4. Encourage positive behaviours Our short guide includes bite-sized insights and good practice examples that will help your organisation make better decisions. This guide has practical steps for senior finance leaders, with top tips for success. Read our guide on reporting: https://lnkd.in/ethUVwCi And if you missed our previous guides in the series, read them here: Enablers of success: https://lnkd.in/eYAqmcxG What you need to know about strategic planning and budgeting: https://lnkd.in/eA89BWSj Allocating resources: https://lnkd.in/ec62qkmA Monitoring and forecasting: https://lnkd.in/eYAMFi3g #FinancialReporting #Reporting #FinancialManagement

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The Model Region Blueprint outlines the next step in creating a high-performing NHS, featuring stronger leadership, improved governance, and a unified 'one-team' culture to deliver sustainable, high-quality care. Learn more ➡️ https://lnkd.in/g5GBPMFg

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