Commissioner Woking Borough Council. CIPFA President. Previously Deputy Chief Executive and City Treasurer Manchester City Council
I've been listening in to the ICAEW Public Sector Conference today and I'm very pleased to be doing the closing remarks alongside Malcolm Bacchus The day has made me really reflect on what the finance function of the future will look like and how we start to build those skills and move to that today. Slightly scary to consider that c60% of finance jobs as we know them may not exist in 10 years time. But the glass half full is we have such an important role as story tellers, to ensure financial info has maximum impact, and the shift with AI away from the manual tasks will enable a much greater focus on the value add part of our roles, it becomes really exciting. (wow that was a long sentence). We need to shout about these opportunities to ensure our roles continue to be attractive. I also reflected on our roles on governance and stewardship. The stats the NAO shared (see below) were truly eye watering. Fraud is a hidden crime and we need to say more about its impact on resources available to deliver public services. I could go on. But I won't. I'll end this with I found this very inspiring ... and very useful. And made me reflect I'm proud to work in public services.
Our Director of Fraud and Propriety, Joshua Reddaway, will be on a panel discussing how to prevent fraud (and waste) in the public sector. If you’re planning on attending ICAEW Public Sector Conference on 6 December, then don’t miss this important panel session at 11.15. For more information, check here: https://lnkd.in/eRqTGs-z #icaewPublicSectorConference
Sounds an excellent day. The future is positive but the next five years (at least) is dealing with the reality we face in local government (and the wider public sector). Speaking to many treasurers the challenge is navigating the every day need to balance budgets and remain financially sustainable. I’m encouraged by the desire of ministers and officials in MHCLG to work their way through the immediate challenges we face and to put the sector on a more sustainable footing over the next few years. The institute needs to focus its resources on supporting MHCLG to achieve its aims. A personal view.
Finance Professional
2wIt was a well spent day, the highlight was Alan Vallance and Owen Mapley reconfirming the commitments from the great Institutes (ICAEW & CIPFA) that are geared towards ensuring that Finance Professionals, especially in the public sector continue to up-skill. As Accountants, embracing the impact of AI on our current way of working is the only way forward. The major take away for me is the fact that AI will not replace Accountants since it has to be human-led to be able to provide the compelling information required for decision making by those charged with governance, but Accountants with AI will replace Accountants. Accountants will still have to do the story-telling derived from the insights that promotes an effective decision making process. This position also aligns with the submission made in one of the CIPFA Speaks podcast that I listened to recently.