This series of good practice guides is aimed at senior finance leaders within central government. The actions and practical tips in this guidance may also be useful for other areas of the public sector and beyond. Our guides span the full financial management lifecycle.
What it covers
The financial management good practice guides:
- set out why finance teams have a crucial role in helping their organisations navigate future challenges – from promoting accountability and realism, to providing trusted and timely information, and working across boundaries to deliver efficiencies and greater value
- provide a number of actions across the entire financial management lifecycle that enable senior finance leaders to assess the health of their finance function at regular intervals
- can also be used by Audit and Risk Assurance Committees to assess how well organisations are equipped to deal with financial management challenges.
Good practice guides
The financial management in government series is made up of five guides:
- Enablers of success – looks at the fundamental themes that underpin each stage of the financial management lifecycle
- Strategic planning and budgeting – sets out how finance leaders can plan strategically and realistically in the face of an uncertain landscape
- Allocating resources – focuses on how finance leaders can allocate resources effectively when resources are scarce and trade-offs need to be made
- Monitoring and forecasting – outlines how finance leaders can monitor budgets and their performance and ensure forecasting is effective
- Reporting for decision-making – sets out insights and good practice on how information can be reported to make better financial management decisions
