Partner Article

Public sector governance framework launched at IFB 2014

A new framework to support good governance in the public sector has been launched at The International Festival For Business in Liverpool.

The International Federation of Accountants and the Chartered Institute of Public Finance and Accountancy have together developed the International Framework: Good Governance in the Public Sector.

The document is a response to a stream of governance failures, including nepotism, inefficiency, corruption and the overall poor financial control and management that ultimately led to the bank and sovereign debt crises.

The new framework, launched at an IFB event held at The Royal Liver Building offices of the accountancy firm Grant Thornton, encourages better governance and management of public sector entities by setting a benchmark as to how they can improve service delivery, achieve better outcomes for citizens, and improve accountability while acting in the public interest at all times.

Chair of CIPFA International Ian Ball said: “The framework requires enhanced stakeholder engagement, robust scrutiny and oversight of those charged with primary responsibility for determining an entity’s strategic direction and operations.

“The level of accountability leads to more effective interventions and better outcomes for the public at large.

“Public sector governance must focus explicitly on sustainable economic, social, and environmental outcomes, and [our approach] is unprecedented in highlighting the central role that outcomes and the public interest should play in the processes and structures of public sector governance.”

Mike Thomas, a director of the public sector audit team at Grant Thornton in the North West UK, said: “Confidence in public sector governance is a bedrock of investment decisions and sustainable growth.

“This framework will be a valuable asset here and in emerging economies. It embodies fundamental principles such as stakeholder engagement and transparency as the core of developing a sustained focus on better outcomes for citizens and acts as a benchmark for how governance should be approached. How it is implemented will remain the challenge.”

This was posted in Bdaily's Members' News section by Simon Malia .