The Association of Chartered Certified Accountants (ACCA) is advocating for a transformational shift in the public sector, urging a focus on productivity and outcomes rather than cost-cutting.
This call to action was made during ACCA’s Virtual Public Sector Conference, where a new report was launched.
The report, titled ‘A productive approach: finance professionals improving productivity in the public sector,’ provides insights and a ten-point plan for finance professionals to enhance productivity in public service delivery.
The report’s findings are based on six roundtable discussions conducted across nine countries.
Key insights include the need for finance teams to transition from a cost-cutting focus to proactive scenario planning and alignment with long-term strategies.
It explores the importance of multi-year budgets to support sustained productivity improvements.
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By GlobalDataAdditionally, the report highlights how public sector organisations can leverage new technologies, such as AI, to streamline operations and foster innovation.
The report author Mark Johnson said: “With governments worldwide managing unprecedented debt levels and competing demands, the call for innovation and efficiency in public finance has never been more urgent.
“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.”
The ACCA Virtual Public Sector Conference featured more than 15 global experts, policymakers, and finance professionals.
They discussed themes of resilience, innovation, and sustainability in public finance across five sessions, attracting nearly 12,000 registrants.
Recently, ACCA celebrated its 120th anniversary.
Founded in London on 30 November 1904 by eight accountants, ACCA has grown into a global network with more than 252,500 members and 526,000 future members in 180 countries.
