About the workshop
Throughout the world, the public sector is under pressure to deliver better services, often with reduced resources. This creates a need for excellence in managing resources, including people, assets, money and information. The impact of Covid-19 has shown the need for effective financial management to steer our organisations through the crisis. The role of public sector finance will be vital in enabling the post- crisis recovery.
This workshop will help you to achieve excellence in financial management so as to assist your organisation in achieving its objectives. We will examine how resources can be optimally planned, monitored and controlled. We will examine the latest developments in financial management practice and the use of technology to improve financial control and achieve efficiencies. The workshop examines various key roles and responsibilities in managing budgets and how these roles and responsibilities should be fulfilled and supported. The workshop will also focus on how sound management of public finances can best contribute to economic recovery in a post- pandemic world.
The workshop will cover:
• The “big picture” in managing financial resources – best practice approaches to both revenue and capital and budget setting and a monitoring process that enables timely remedial action when things go wrong
• The linkages between finance, human resources, information and asset management strategies and the role of the finance function
• Doing the fundamentals well – best practice inessential financial processes, including payments, treasury management, income collection, cashiering and payroll
• How financial management can assist recovery from the economic and social impacts of the Covid-19 crisis
• International Accounting Standards (IPSAS and IFRS) – these Standards have considerable implications for financial management and for the allocation of resources; requirements and implications of the Standards; effective mechanisms for improving financial management and reporting
• How jurisdictions seek accountability, responsibility and financial discipline
• Successfully applying technology – Integrated Financial Management Information Systems (IFMIS), alongside electronic transactions, have brought step changes in the performance of many organisations. How can technology be harnessed to provide real improvements in financial and resource management?
Who is it for?
The workshop is designed for accountants, policy-makers, financial practitioners and line managers with financial and resource management responsibilities.
How participants will benefit
The workshop will enable you to:
• Implement stable planning and budgeting frameworks to assist your organisation to become more effective
• Understand and fulfil the role of the manager and the accountant in financial management
• Support Management Boards and the political/ managerial process more effectively
• Appreciate the corporate governance implications of better management of resources
• Assist in implementing improved medium-term financial planning and budgeting
• Link the role of budgeting to risk management, performance management and resource allocation
• Understand the principles, challenges and benefits of International Accounting Standards.