Boosting treasury management skills in the public services

Press release

Monday 22 June 2009

A new qualification, which will provide invaluable skills in treasury management for the public services, is being launched by the Association of Corporate Treasurers (ACT) and the Chartered Institute of Public Finance and Accountancy (CIPFA).

ACT and CIPFA have partnered to develop this qualification as it is vital that staff managing funds in the public services are trained in all aspects of treasury management. The recent Icelandic bank failures have highlighted this point on a very large scale. Significantly, one of the key recommendations of the Audit Commission’s study into that failure was that “CIPFA should continue to work with the Association of Corporate Treasurers to develop appropriate training and a qualification.” The development of specialist skills within local authorities was also supported by the Select Committee report on local authority investments.

The Certificate in International Treasury Management – Public Finance (CertITM-PF) is aimed at all professionals who work in treasury management within the public services or who are considering moving into this expert field. It will quickly result in more highly skilled specialists within the sector and become the standard qualification for public service treasury management roles.

The course will lead to a certified professional qualification, CertITM-PF from the ACT and CIPFA.

Stuart Siddall, ACT Chief Executive said:

 The launch of CertITM-PF is a further important step in the recognition of the need for formal qualifications for staff involved in treasury management activities. The ACT has been delighted to work with CIPFA to adapt one of our broadest treasury qualifications to the specific needs of the public finance sector. If recent events have taught us anything it is that management must ensure that they have the right skill and experience base to manage financial risk. 

Steve Freer, CIPFA Chief Executive said:

 While this new treasury management qualification from CIPFA and the ACT was in development prior to the collapse of the Icelandic Banks, it is perhaps this event above all others that confirms our belief in the necessity to provide the public services with a new era of specialist expertise. 

For further information about the qualification visit www.treasurers.org/certitmpf

---------- Ends -----------

NOTES TO EDITORS

For further information on the ACT, or to commission an article, please visit the ACT Press Room.

About CIPFA

CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. Our 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed. As the only UK professional accountancy body to specialise in public services, CIPFA’s qualifications are the foundation of a career in public finance. They include the benchmark professional qualification for public sector accountants as well as a postgraduate diploma for people already working in leadership positions. Our in-house CIPFA Education and Training Centre delivers the range of our programmes at locations across the UK, and works with other places of learning to provide our courses locally. We also champion high performance in public services, translating our experience and insight into clear advice and practical services. They include information and guidance, courses and conferences, property and asset management solutions, consultancy and interim people for a range of public sector clients. Globally, CIPFA shows the way in public finance by standing up for sound public financial management and good governance. We work with governments, accounting bodies and the public sector around the world to advance public finance and support its professionals.

For further information visit www.cipfa.org.uk