CIPFA teams up with DFID to boost international finance standards

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Tuesday, 17, Jun 2008 12:00

Accountancy body, CIPFA, has joined forces with the Department for International Development (DFID) to improve public financial management internationally, it was announced today. A new agreement will see the government department fund research and other programmes run by CIPFA to improve the quality of public financial management in the developing world.

As part of the agreement CIPFA and DFID are cooperating on a ground-breaking analysis of the PFM institutional framework and systems that operate globally, regionally and at country level, and that help determine the effectiveness of public financial management internationally.

Commenting on the announcement, made at CIPFA’s annual conference taking place this week in Brighton, Caroline Rickatson, International Director at CIPFA, said:

“We are delighted to sign this agreement with DFID and appreciate their confidence in our expertise. We know full well that improving public financial management in the developing world in particular can generate more money for investment in vital public services, and make a major contribution to poverty reduction and the achievement of the Millennium Development Goals. With this support from DFID we plan to support partner governments to make greater strides in improving the financial health of their countries.”

Work on the first of the projects to be carried out under the agreement is already under way, with the endorsement of the OECD Development Assistance Committee’s Joint Venture on public financial management at its meeting in Pretoria recently.

Mark Lowcock, DFID’s Director General of Country Programmes, said:

“DFID is delighted to lend our support to CIPFA’s new International Strategy which is closely aligned to our own PFM Objectives. We believe that CIPFA is uniquely placed to contribute to the necessary improvement of international public sector accounting and auditing standards, as well as professionalisation in developing countries.”

ENDS

Contact: Guy Roberts or Richard Taylor, CIPFA Press Office, tel: 020 7543 5712/5687, Mobile:07798 501842, email: pressoffice@cipfa.org

Notes to Editors:

1. The CIPFA 2008 Annual Conference is taking place at the Hilton Metropole Hotel, Brighton from 17-19 June. Guest speakers include John Prescott MP; John Healey MP, local government minister; Edward Leigh MP, Chairman of the Parliamentary Accounts Committee; Sir Simon Milton, Chairman of the Local Government Association; and Lord Coe. The event is open to all members of the media. For more information please contact the CIPFA Press Office on 020 7541 5687 or visit www.cipfa.org/conference

2. The Chartered Institute of Public Finance and Accountancy (CIPFA) is one of the leading professional accountancy bodies in the UK and the only one which specialises in the public services. It is responsible for the education and training of professional accountants and for their regulation through the setting and monitoring of professional standards. Uniquely among the professional accountancy bodies in the UK, CIPFA has responsibility for setting accounting standards for a significant part of the economy, namely local government. CIPFA’s members work (often at the most senior level) in the public service bodies, in the national audit agencies and major accountancy firms. They are respected throughout for their high technical and ethical standards and professional integrity. CIPFA also provides a range of high quality advisory, information and training and consultancy services to public service organisations. As such, CIPFA is the leading independent commentator on managing and accounting for public money.

3. The Department for International Development (DFID) is leading the UK government’s fight against global poverty. DFID supports initiatives that promote understanding about the wider world and global issues in the UK. www.dfid.gov.uk