November 17 ,2015 | by Thiago Kiwi

“Balanced approach” needed for open book accounting, says outsourcing association

Balanced approach needed for open book accounting

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.

Less appealing

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.

Thiago Kiwi

Thiago is the LSBF Blog Editor who manages news and features content on the site, and writes about business, finance, technology, education and careers.

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