The Chartered Institute of Public Finance and Accountancy (CIPFA) has revealed its proposed changes to toughen the prudential code.
Launching a consultation on the changes, CIPFA stressed that commercial investments for financial benefits rather than for service outcomes ‘need more careful financial risk assessment’. The consultation also proposed that in order to support an effective approach to risk management the chief finance officer should ‘report explicitly on the deliverability, affordability and risk associated with the capital strategy’.
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