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Annual Report & Accounts 2004

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Annual Report and Accounts 2004 [PDF: 374KB]

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Foreword

2004 was a very significant year for CIPFA. Indeed, subject to events over coming months, it may prove to be a watershed in the Institute’s long, proud history.

Throughout the greater part of the year we worked closely with our sister professional bodies, the Chartered Institute of Management Accountants (CIMA) and the Institute of Chartered Accountants in England and Wales (ICAEW), to explore options for a major consolidation initiative.

Many commentators were less than positive about our chances of success, reciting the litany of failed merger attempts which have so dogged the profession for three or four decades – as if we needed to be reminded! But by the turn of the year a number were beginning to review their predictions, especially when we were able to announce formal plans for CIPFA and ICAEW to join forces in a new combined institute. Members will have the opportunity to vote on this proposal in October 2004.

The success or otherwise of this scheme will have huge implications, not only for the two bodies and their members and students, but also for the wider profession. A powerful new institute will have the capacity and credentials to serve all sectors of the economy and to span all of the specialisms which make up the modern profession. It will be able to command a leadership role globally, helping to position the public interest at the heart of the agenda and to deliver the very highest standards on which future confidence and credibility depend so heavily.

But this is only half the story of 2004. Bold new projects have a potential downside too. Most obviously they can sap energy and distract attention from the organisation’s day-to-day business.

Throughout the year we have been resolutely determined to avoid this pitfall. And I believe that our results confirm remarkable success. A surplus of £670,000 on the year’s activities (excluding property valuation adjustments) and our best new student registration numbers since 1990, speak volumes.

Two particular highlights of the year were the launches of the CIPFA Financial Management Model and the new Good Governance Standard for Public Services. The latter represented the work of an Independent Commission set up by CIPFA and the Office of Public Management, working in partnership with the Joseph Rowntree Foundation.

For me, these were examples of the Institute at its very best – conceiving big ideas, delivering them with style and finesse, and making a real difference in public service organisations up and down the land.

All of this leads me to thank the many volunteers and staff who work together so effectively to make our Institute such a vibrant organisation. Whatever the future holds, with these levels of skill and commitment, I am confident that we shall continue to thrive.