The States of Jersey has appointed global professional services firm, EY, as its partner to help modernise public finances, in a contract worth £2 million over two years.
The finance transformation programme aims to modernise how the States runs its finance operation, increasing efficiency, improving governance and effective financial management and eliminating the wasteful duplication in the current out-dated system.
The finance programme is an essential component of the ‘one government’ transformation, which the Chief Executive, Charlie Parker, has pledged will save tens of millions of pounds from the cost of the public service.
The programme, which will run to the end of 2019, was identified as a priority following an in-house review of the function. It also responds to concerns raised about financial management by both the Comptroller and Auditor General and the Public Accounts Committee of the States Assembly.
The programme will combine advisors from EY with in-house finance specialists, to make the best use of both international best practice expertise and local knowledge. This approach offers both best value for money and provides for skills and knowledge transfer from EY specialists to States finance staff.
Treasury and Resources Minister, Deputy Susie Pinel, said: “The root-and-branch reform of our outdated finance system is long overdue. All governments need effective financial planning and accountable financial management, to ensure that taxpayers’ money is being spent wisely, so this programme is a critical component of the modernisation of our public services, and its cost will be repaid many times over in future savings.”