Amid mounting fiscal pressures and rising demands on public services, global accountancy body ACCA is calling for a sharper focus on productivity and outcomes in the public sector as part of a 'transformational shift’ broadening the focus from cost-cutting and cost control.
Launched today at its Virtual Public Sector Conference, a report from ACCA (the Association of Chartered Certified Accountants), A productive approach: finance professionals improving productivity in the public sector, provides practical insights and a ten-point plan for finance professionals to drive productivity at every stage of public service delivery. Findings are based on six roundtable discussions held across nine countries.
‘With governments worldwide managing unprecedented debt levels and competing demands, the call for innovation and efficiency in public finance has never been more urgent,’ says Mark Johnson, the report’s author. A keynote speaker at the conference, Johnson offered insights into the research and actionable recommendations for public sector leaders. He said, 'Finance teams are at the heart of public sector organisations, uniquely positioned to influence how public resources are allocated, processes are streamlined, and impactful outcomes are achieved. This report is a blueprint for transforming financial leadership into a driver of sustainable public value.’
Key findings of the report include:
The need for finance teams to evolve from a focus on cost-cutting to proactive scenario planning and long-term strategy alignment.
The importance of multi-year budgets to support sustained productivity improvements.
How public sector organisations can harness new technologies, including AI, to streamline operations and foster innovation.
The ACCA Virtual Public Sector Conference featured a line-up of more than fifteen global experts, policymakers, and finance professionals discussing themes of resilience, innovation, and sustainability in public finance across five sessions with almost 12,000 people registered for sessions. Read the report here.
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About ACCA
We are ACCA (the Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide.
Founded in 1904 to widen access to the accountancy profession, we’ve long championed inclusion and today proudly support a diverse community of over 252,500 members and 526,000 future members in 180 countries.
Our forward-looking qualifications, continuous learning and insights are respected and valued by employers in every sector. They equip individuals with the business and finance expertise and ethical judgment to create, protect, and report the sustainable value delivered by organisations and economies.
Guided by our purpose and values, our ambition is to lead the accountancy profession for a changed world. Partnering with policymakers, standard setters, the donor community, educators and other accountancy bodies, we’re strengthening and building a profession that drives a sustainable future for all. Find out more at: www.accaglobal.com