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Jersey Chamber of Commerce

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Category: Local Business News  Scrutiny  States of Jersey

Public Accounts Committee (PAC) Financial Management Report

Feb 17, 2020

Since 2018 the Public Accounts Committee (PAC) has been examining a number of ‘recurring themes’ that have arisen from its previous reports and those of the Comptroller and Auditor General (C&AG).  The PAC has today published its latest report in the series which focusses on following up the huge financial transformation taking place throughout the public sector.  

In its report, the PAC has highlighted the need to improve Financial Management within the States, following on from the Review of Financial Management undertaken by the C&AG in April 2015. Since then, financial management has ranked high on the list of legacy issues to be dealt with by the Treasury. However, the scale of change being attempted within the Finance function in the Treasury and Exchequer is unprecedented.

Although the PAC welcomed proposals for improvement and restructuring of financial management, the PAC wanted to ascertain what the Chief Executive and senior officers have achieved so far – and how that is objectively measured.

In its report, the PAC recognises that the implementation of the financial management restructuring is only just underway, with the Public Finances Manual underpinning the Public Finances (Jersey) Law 2019 coming into force on 1 January 2020. Furthermore, the Government Plan has only recently been approved by the States Assembly, however the PAC is cognisant of the need to keep the public informed of its ongoing scrutiny and its findings.

The Vice Chair of PAC, Connetable John Le Bailly, stated:

“Although many new improvements have been made to the finance function throughout the States departments, cultural change required to deliver the transformation and modernisation programme that aims to deliver accessible, digital information for staff and public across the finance function, is substantial. The PAC is supportive of the need to invest substantial sums of public money in modernisation of the systems and controls, to drive efficiency and reduce the risk of loss. However, the Government should be transparent about the total investment which it is believed will be required and the medium-term impact on public expenditure to finance this beyond the current government plan period. The benefits of this spend should be considered in the broadest sense and made clear as part of the business case.”

PAC Report on Financial Management

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