Fiscal consolidation is the single biggest strategic challenge currently facing the public sector and has moved squarely into the heartland of Finance. We believe that this presents a once in a generation opportunity for Finance to force its way onto the top table, engaging the business as a partner and providing high level insight, to inform key decisions that impact on every one of us.
This publication continues PricewaterhouseCoopers' research into the role of Finance in the public sector, examining the trends, issues and the changing environment faced by finance directors across the sector.
The findings show that Finance is still struggling to get the balance right. Too much time is still being spent on compliance & control and not enough on insight; shared services need to be implemented aggressively; and there is no great appetite to learn from others either in the public or private sectors. Strong leadership will be crucial now as Finance seeks to focus on the higher value activities needed to help organisations cope with the onset of the public sector's own recession. The time for Finance to take action is now.