The Audit Commission has warned that councils who have removed the chief finance officer from the board but left th...
The Audit Commission has warned that councils who have removed the chief finance officer from the board but left the post as the most senior officer responsible for finance are taking serious risks.
The Financial Times (p13) reports that the commission says the arrangement is 'never likely to be satisfactory' and urges chief finance officers to reinvent themselves in a broader, more strategic role.
About one in 15 councils have a chief finance officer who is not on the management board and the number is growing.
'There must be one individual with responsibility for financial management and he or she must be on the board,' said the commission, adding that guaranteed access to the chief executive and councillors was vital.