Download or read book Financial management report 2011 written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2011-11-23 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial management at the Ministry of Justice has improved considerably since the National Audit Office last examined this subject in 2010 (HC 187, ISBN 9780102965339). The Ministry now has effective governance structures in place and, in 2010-11, managed its money far more effectively, allowing it to redeploy funds to where they were most needed. Financial management is now much more central to the operation of the organisation and the quality and consistency of financial planning and forecasting have improved. Financial information for decision making is more relevant and useful, with the Ministry's planning work allowing it to bring together a wide range of business information to estimate the financial implications of its workload. It has also improved oversight of its arm's-length bodies. The Ministry still has gaps in financial reporting skills and some of its underlying systems need further improvement. It was one of only two government departments that failed to produce their financial accounts by the 2011 summer Parliamentary recess, mainly due to the accounts for the National Offender Management Service being produced late. The Legal Services Commission, an arm's-length body of the MOJ, had the audit opinion on its 2010-11 accounts qualified owing to the potential level of error, put at an estimated £50 million. There has also been little change in how the Ministry monitors and collects assets due under confiscation orders, with the amount of outstanding debt having increased by almost £400 million in 2010-11.
Download or read book Ministry of Justice financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-03-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ministry has improved its financial management since the Committee's last report in January 2011 (HC 574, ISBN 9780215556042). Many of the Ministry's processes have improved, including modelling and forecasting, but the Ministry has not achieved significant improvements in the delivery of key financial outcomes and therefore has much still to do. The most serious issue is the Ministry's inability to report its financial affairs on a timely and accurate basis. The Ministry's own resource accounts for 2010-11 were delivered late and there were significant problems with the accounts produced by two of its major arm's length bodies, the Legal Services Commission and HM Courts Service's Trust Statement. The Ministry faces significant accounting challenges for the 2011-12 financial year, due to the required earlier publication of the accounts. The Ministry needs to break the cycle of continuing failure to produce accurate and timely accounts. It also faces considerable challenges in meeting its tough spending review commitments, but without a full understanding of its costs, the Ministry risks unnecessarily cutting frontline services, which are critical to the poorest in the community, rather than ensuring savings are achieved through genuine efficiencies. Maximising the income it obtains will help the Ministry and fine collection is improving, but it is being outpaced by the growth in fines outstanding. Excellent financial management is critical to the Ministry's future success as it seeks to achieve significant efficiency gains while coping with workload pressures, such as increases in the prison population, that are largely outside its control.
Download or read book Financial Management written by Robert W. Tobin and published by . This book was released on 1979 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Management written by Robert Tobin and published by . This book was released on 1979 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ministry of Justice financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-01-25 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ministry of Justice delivers its services through a wide range of arm's length bodies and agencies, including the courts, prisons and probation services. The Ministry's Spending Review settlement requires a 23% reduction to its resource budget over the next four years. The Ministry has a range of financial management processes in place but lacks a consistent approach across its business, and to date it has not integrated financial management into its policy and operational workings. The Ministry needs to implement its Spending Review settlement on the basis of a full understanding of the cost and value of its services, so that financial cuts are best targeted to minimise the impact on frontline services. The Ministry and its arm's length bodies currently lack the detailed information they would need to do this. A comprehensive understanding of the costs and value of services must be a priority. For its arm's length bodies, having a clear direction, the details of which are formally agreed by both parties, is essential as is strong leadership and a shared sense of purpose. The Ministry now needs to oversee the performance of its arm's length bodies, such as framework documents, operational reviews, and accountability meetings. Fee recovery and fines collection have to be priority areas for improvement and the need to improve recovery rates where it does not currently recover the full cost of services provided. On fines collection, there was little sign of the sustained improvement promised when the Committee last took evidence in 2006.
Download or read book The Budget and Structure of the Ministry of Justice written by Great Britain: Parliament: House of Commons: Justice Committee and published by The Stationery Office. This book was released on 2012-08-18 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the five years since the Ministry of Justice was created, it has made improvements to its structure and performance and is now a more integrated Department. However, the Ministry is still too much in thrall to the prison service: better integrated offender management would enable the Ministry to make the financial savings demanded of it but also provide a more effective service to clients, users and the wider public, and in particular to achieve its key objective to reduce re-offending. The Ministry has been subject to past criticism for poor financial management - missing the Treasury's deadline for the laying of accounts three years running, woeful inefficiency in the administration of legal aid and too much focus on policy at the expense of delivery. Following an in-depth investigation into all aspects of the Department's work, the Committee concluded that the Ministry has got a grip of the situation and is justifying the rationale for its creation. However, the MPs believe the Department could undergo further restructuring to create a single delivery body. Additionally, the current structure of the National Offender Management Service (NOMS), which continues to be driven by prison priorities, produces difficulties in reducing re-offending. The Committee also makes a number of further recommendations to improve how the Department functions
Download or read book Progress in improving financial management in Government written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2011-03-03 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite good progress in improving the professional capability and capacity of government finance departments since the National Audit Office last reported in 2008, good financial management is still not embedded in the civil service culture, and financial matters do not have sufficient influence over departments' strategic decision making. The NAO concludes that departments have achieved a core level of competence in financial management, but further improvement in financial management capacity and capability throughout their organisations is required to enable them to meet the challenge of delivering the savings set out in the Spending Review 2010. There has been important progress - all departments now have a professionally qualified Finance Director, supported by an increased number of qualified finance staff. The Treasury is also implementing accounting changes to bring greater transparency to government financial reporting. Whitehall's central finance functions competently capture and report the transactions and financial position of the departments. Annual accounts are delivered before the July Parliamentary recess. The number of overall overspends against the amounts approved by Parliament is low. However, departments are generally weak at monitoring their balance sheets and at forecasting cash flow in the medium term. Departments do not fully understand the costs of their activities, and it is rare for them to have good information on the unit costs of outputs, levels of productivity or the value of outcomes. Departments generally focus on monitoring against the agreed one-year budget, with a few looking as far ahead as the current spending review period of four years.
Download or read book Financial Management written by Robert Tobin and published by . This book was released on 1979 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Government Response to the Justice Committee s Second Report of Session 2012 13 written by Great Britain: Ministry of Justice and published by The Stationery Office. This book was released on 2012-10-19 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dated October 2012. Response to HC 97-I (ISBN 9780215047557)
Download or read book Financial Management of Emergency Response Costs During Provincial Activations written by British Columbia. Ministry of Justice and published by . This book was released on 2013 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Latvia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-09-15 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latvia is facing an inflation shock, slow growth, and geopolitical challenges, while the long-term policy concern is to sustain the income convergence process. Headline inflation has surged over the past year in Latvia, measuring 12.3 percent y/y in May, while core inflation increased to 12.4 percent y/y in May. The new government, which took office in December 2022, will also have to continue to deal with the spillovers in the Baltic region from the Russian invasion of Ukraine and the impact of sanctions imposed on Russia and Belarus, the cost-of-living crisis, energy security, and the expected slowdown in growth. To secure high long-term growth in a low-inflation environment, Latvia needs to address three structural issues: (i) low productivity, (ii) low investment, and (iii) skilled labor shortages.
Download or read book DfID financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-10-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the Department for International Development's financial management capability, its increasing focus on value for money, and the challenges it faces in managing its increasing programme budget while reducing its overall running costs. DFID is protected from overall expenditure reductions as the Government has committed to increasing the UK's aid spending to 0.7% of gross national income by 2013. The Department faces a substantial challenge to improve its financial management while reducing its administration costs by a third over the next four years. The Committee welcomes the planned introduction, in 2011, of a finance improvement plan. DFID must now keep up the focus on better financial management. There is concern that the Department does not quantify the likely level of leakage through fraud and corruption. And DFID is only considering fraud risk at the level of delivery method rather than at a country level. Management of fraud risk will require a stronger framework for ensuring money is properly spent on the ground, with effective monitoring and pro-active anti-fraud work. The likely increase in funding via multilateral organisations (which then determine how to distribute the aid worldwide) might not ensure value for money as DFID does not have the same visibility over the cost and performance of multilaterals' programmes as it does over its own bilateral programmes. Finally, the Committee is concerned that the Department still has insufficient data to make informed investment decisions based on value for money.
Download or read book Republic of Latvia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-08-07 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Republic of Latvia highlights that the economy continued to expand rapidly in 2018, as growth surprised with a strong construction-driven upswing. Fiscal and current account deficits are at manageable levels, as is the public debt. The financial system remains stable, despite a significant balance sheet restructuring of banks servicing foreign clients. The growth outlook is favourable; however, risks weigh on the downside due to a less supportive external environment. The financial system remains stable despite a significant balance sheet restructuring of banks servicing foreign clients. Banks remains well capitalized and liquid, with capital levels about 40 percent higher than the euro area average and average liquidity coverage four times the regulatory minimum. Higher productivity and investment growth are needed to offset the impact of Latvia’s exceptionally unfavorable demographic trends and achieve robust long-term growth and rapid income convergence.
Download or read book United States Attorneys Manual written by United States. Department of Justice and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Official Gazette written by Philippines and published by . This book was released on 1979 with total page 908 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modernisation of the Justice Sector in Portugal written by OECD and published by OECD Publishing. This book was released on 2024-06-20 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report assesses the modernisation of the justice sector in Portugal. It examines the country's progress towards a people-centred justice system and a modernised justice sector and offers a range of recommendations to sustain and amplify this progress. It highlights the importance of adopting continuous assessments of legal needs, designing and delivering services with a people-centred purpose; upskilling the justice sector to meet the demands of a digitally enabled and people-centred justice system; enhancing the availability, quality, and use of data and statistical systems; and using digital technologies and data to improve the accessibility, efficiency, and responsiveness of the justice system in Portugal.
Download or read book The Routledge Handbook of Financial Literacy written by Gianni Nicolini and published by Taylor & Francis. This book was released on 2021-12-30 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial literacy and financial education are not new topics, even though interest in these topics among policymakers, financial authorities, and academics continues to grow. The Routledge Handbook of Financial Literacy provides a comprehensive reference work that addresses both research perspectives and practical applications to financial education. This is the first volume to summarize the milestones of research in financial literacy from multiple perspectives to offer an overview. The book is organized into six parts. The first three parts provide a conceptual framework, which discusses what financial literacy is, how it should be measured, and explains why it represents a relevant topic and effective tool in enhancing decision-making among consumers as well as consumer protection strategies. Part IV addresses the connection between financial education and financial literacy, with chapters about financial education in school settings as well as for adults. This part includes an analysis of the role of Fintech and the use of gamification in financial education. Part V is a collection of contributions that analyze financial literacy and financial education around the world, with a focus on geographical areas including the U.S., South America, Western Europe, Eastern Europe, Asia, and Africa. This part also considers how financial literacy should be addressed in the case of Islamic finance. The concluding part of the book examines how financial literacy is related to other possible approaches to consumer finance and consumer protection, addressing the relationships between financial literacy and behavioral economics, financial well-being, and financial inclusion. This volume is an indispensable reference for scholars who are new to the topic, including undergraduate and graduate students, and for experienced researchers who wish to enrich their knowledge, policymakers seeking a broader understanding and an international perspective, and practitioners who seek knowledge of best practices as well as innovative approaches.
