The Government Finance Profession (GFP) launched the Government Finance Academy (GFA) earlier this year, taking a big step forward towards strengthening the profession across Whitehall and continuing to strive to “put finance at the heart of decision making” throughout the Civil Service.
The GFP is made up of over 10,000 finance professionals drawn from across government departments and agencies who work on a hugely diverse range of topics – from schools, to hospitals, to energy policy and infrastructure, to supporting the UK’s global network of embassies, to supporting economic growth, innovation and trade. There aren’t many FTSE100 organisations with the same challenges of size, diversity and delivery risk.
Having spent my entire career in government – as a civil servant and latterly as an advisor – I have witnessed many initiatives to professionalise finance in government. EY are delighted to be a key partner of the GFA and I do believe that the GFA have got it right! The Financial Management Review (FMR) – and subsequent reform programme – made establishing the GFA one of its key recommendations. The GFA will focus on the development of the Finance Profession – supporting them with technical updates and learning, developing softer skills for business partner roles, looking at GFP succession planning and talent management and helping individuals identify their next career move with an interactive career path tool.
We’re continuing to develop interactive and engaging e-learns on topics such as data visualisation and commercial awareness as well as developing a GFA summer school programme to deliver to the GFP technical accounting updates from the world of IFRS, working through what that means for government accounting and budgeting, and setting out the range of challenges that finance colleagues from outside of government are tackling. The technical training for instance – provided by my team – will update accountants across government with precisely the same training that we receive at EY.
Overall, it’s a fascinating piece of work, genuinely at the heart of the development of the Whitehall finance professional and we’re really proud to be partnering the GFA during these important early stages. Internationally, the GFA is attracting attention too with overseas government representatives at the conference wanting to know more about its intentions.
However, wherever you may work or reside, learning is a two-way street and I would urge all accountants across government to take this opportunity to steer what the GFA can offer and help create not just an online library, but an on-message legacy.
Samantha Foley, Director of the GFA stated: “what I really want is a one-stop shop which is accessible and invaluable to the Government Finance Professional and has a real reputation for quality. But it also needs to resonate with individuals as they plan their own careers and help deliver a pipeline of talent to be future Permanent Secretaries and senior finance professionals across the civil service. We’re now up and running, with lots more to come, and I’m really pleased to be working in partnership with EY to deliver this exciting initiative”.
David Smith, Government & Public Sector leader of EY’s Financial Accounting Advisory Service.
Public sector Group, March 2016
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