“Balanced approach” needed for open book accounting, says outsourcing association
- 17th November 2015
- Accountancy & Finance
The National Outsourcing Association (NOA) has criticised a recommendation from the National Audit Office and CIPFA in a submission to ministers.
According to the NOA, the government should take a “balanced approach” to Whitehall outsourcing reforms, which includes moves to open book accounting to ensure the continued provision of public services.
Public sector contracts could become less appealing to business if “a delicate balance” isn't maintained in any potential reforms, though the sector supports transparency and accountability measures, says the NOA.
It stated: “The government must focus on the value attained from outsourcing, rather than the profits made by its service providers.”
Active and vocal
The body went on to urge “active and vocal” support to the sector from the government, as it could be an important area of growth for the wider UK economy and provide a boost to jobs and growth by 2020.
“Purely attacking profits will have huge ramifications, restricting innovation which in turn will reduce productivity, and making the prospect of public sector contracts far less appealing,” the trade group added.
According to a recent article by The Guardian earlier this month, the Association of Chartered Certified Accountants (ACCA) and the…