Strong demand for improvement in public services treasury management skills

A new treasury management qualification for the public services, launched in the wake of the Icelandic banking collapse last year has attracted high levels of interest and excellent student numbers.

160 students have enrolled on the qualification, which has been developed through close co-operation between the Chartered Institute of Public Finance and Accountancy (CIPFA) and the Association of Corporate Treasurers (ACT).

ACT and CIPFA have developed this qualification to ensure that staff managing funds in the public services have all the relevant skills and knowledge to perform the function in a highly competent and professional manner.

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

Stuart Siddall, ACT Chief Executive said:

 We are delighted at the excellent reception the CertITM-PF has received from the public sector, particularly local authorities. However, many more organisations should be asking themselves whether they too need to take steps to ensure that they have all the relevant skills and knowledge and are qualified in this vital area. It is critically important to be absolutely confident that funds are being managed effectively and with a clear understanding of the balance of risk and return. Stuart Siddall, ACT Chief Executive

Steve Freer, CIPFA Chief Executive said:

 The large number of applications for this programme confirms that CIPFA and the ACT are clearly tapping into a real market need. Throughout the public sector there is increasing recognition that treasury management is a complex, specialised area which requires expert stewardship Steve Freer, CIPFA Chief Executive

The next course starts on 12 April 2010.

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

Notes to editors

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

One of the key recommendations of the Audit Commission’s Risk and Return report into the failure of the Icelandic banks 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 Local Authority investments on local authority investments.

The full Audit Commission report is available at http://www.audit-commission.gov.uk/nationalstudies/localgov/Pages/riskan...

The full House of Commons, Communities and Local Government, Local authority investments report from 11 June 2009 is available at http://www.publications.parliament.uk/pa/cm200809/cmselect/cmcomloc/164/...

About the ACT

The Association of Corporate Treasurers (ACT) is the international body for finance professionals working in treasury, risk and corporate finance. Through the ACT we come together as practitioners, technical experts and educators in a range of disciplines that underpin the financial security and prosperity of an organisation.

The ACT defines and promotes best practice in treasury and makes representations to government, regulators and standard setters.

We are also the world's leading examining body for treasury, providing benchmark qualifications and continuing development through training, conferences and publications - including The Treasurer magazine.

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 world’s only professional accountancy body to specialise in public services, CIPFA’s portfolio of qualifications are the foundation for 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. They are taught by our in-house CIPFA Education and Training Centre as well as other places of learning around the world. 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 donors, partner governments, accountancy bodies and the public sector around the world to advance public finance and support better public services.