Financial management

Finance directors need to balance four main objectives in meeting government demands for efficiency and effectiveness:

• Delivering value through effective financial management and efficient use of funds
• Achieving financial management excellence through efficient and effective processes and controls
• Identifying, anticipating and mitigating risks
• Developing and maintaining governance and reporting systems

PricewaterhouseCoopers has specialist knowledge of finance in government and experience working with clients across sectors including health, defence, home affairs, education, work and pensions and devolved government, as well as financial stakeholders such as the HM Revenue and Customs, HM Treasury and the National Audit Office.

We focus on delivering solutions by harnessing the talent of our leading practitioners, using best practice knowledge and benchmarks, providing viewpoints on effective financial management and skills and knowledge transfer. We also host networks of fellow external finance professionals.

Potential improvement areas

• Moving to shared service centres and outsourcing providers
• Assessing/building PFI/PPP business cases
• Advancing the capability of finance personnel
• Establishing performance management regimes
• Improving processes procedures and controls including those related to
  
  
  • Changing processes to deliver sustainable lower costs
  • Ensuring governance and reporting systems are working properly
  • Assessing the technical and operational skills of the finance team
  • Identifying major risks to delivery
  • Ensuring that the organisation can meet Government reporting requirements

PwC services

• Performance and financial management
• Financial reporting for internal and external stakeholders
• Funds management advice for government organisations
• Support services & assessing and evaluating current operations
• Talent management & assessing skills & developing training where necessary
• Systems and tools & defining strategies & performance management requirements