The Finance Global Design Principles are a set of common processes and procedures, which are used by core government departments and their arms’ length bodies, (ALBs), to ensure consistency across government and facilitate greater sharing of expertise. The Finance Global Design Principles have been developed for 12 areas of the finance taxonomy, to promote convergence and best practice across government; Purchase to Pay, Order to Cash, Cash Management, Grants Administration, Payroll, Expenses, Inventory, Investment Appraisal, Project Accounting, Record to Report, Tax, Non-Current Assets
- are based on leading practice from the public and private sectors
- have been developed collaboratively with colleagues across government departments and special interest groups.
- are system agnostic i.e. do not depend on a specific system
- are mandatory for all core government departments
A tool is provided for entities to self-assess their compliance against the Finance Global Design Principles.