Workshop / Pre-accounts planning 2024
About this event
This conference provided those responsible for financial reporting the opportunity to start to plan for the financial year-end. This year, the conference ran online over two days.
The programme explored changes to accounting and reporting requirements and provided opportunities to raise any issues/questions with NHS England and DHSC colleagues.
Delegates were given opportunities to interact via a series of question and answer sessions and focused workshops.
Session content
As in previous years, this session will provide a strategic overview on behalf of the department of health and social care. Vanessa and Tim will explore the importance of producing good quality accounts, how these feed into the national picture, including their effect on new funding streams and the autumn statement.
They will also provide feedback on the group accounts, pulling out themes at this level as well as discussing the key challenges ahead for year 24/25, including what to expect in terms of consolidation schedules.
This session will provide an update on financial reporting standards and public sector reporting
standards that will affect NHS bodies in 2023/24 and future years. The session will also cover
changes to auditing standards and regulation that may affect the audit of NHS bodies.
This session will act as a first timer’s guide to preparing and presenting the NHS annual accounts. Martin will discuss key success factors, how the accounts fit together and how to finalise the accounts in a timely manner
This session is designed to offer step by step guidance around what to expect in implementing IFRS 17.
Steven will begin by introducing the concepts underpinning Insurance contracts, and how they might arise within your contractual agreements, what accounting to consider and what impact it could have on your budgets.
Attending this workshop will ensure that you are on the front foot in planning, included will also be examples from the private sector who have adopted this from 23/24.
NHS Shared Business Services transacts and processes millions of NHS transactions each year.
This session will begin by reflecting on previous years’ experience, looking at best practice in transacting including effective coding in areas such as VAT as well as agreement of balances.
Anne-Marie will also provide insight into maximising VAT recovery and how attendees can support their wider teams. Finally, the session will look to the future, exploring what initiatives such as making tax digital will mean in practice.
Manchester University NHS Foundation Trust have been introducing RPA as a way of saving time and cutting costs. They started by turning their attention to invoicing as an initial proof of concept and now have bots processing 10,000 invoices per month.
Enlisting the support of a third party as well as students keen to test their coding skills, they were able to build bots to do some of these more labour-intensive tasks, saving approximately 450 hours of administration time.
18 months on and the trust is seeing many tangible results, with RPA now also being adopted and embedded by the workforce team as well as clinical services in the community, being used to identify patient need and saving on wasted clinical visits.
Edd will join delegates today to outline their journey so far, how they were able to engage and educate staff as well as exploring what the future holds for their finance team as they look to incorporate and utilise an AI model to forecast.
There is widespread acceptance that there is a climate emergency, and action needs to be taken. NHS bodies are required to prepare green plans and no doubt there are climate-related risks in their risk registers. But how is this to be reported?
From 2023/24, central government departments will be required to start to apply the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The reporting requirements focus on the quality of reporting and management information. In this session Steven will outline how the HM Treasury approach to adaptation of the TCFD recommendations is being implemented in the Group Accounting Manual for NHS bodies to apply in 2023/24 and beyond.
This session will look at what can be done to improve the audit process by all concerned. It will cover issues such as what evidence auditors are looking for and how difficult issues are best presented - from both the auditor and the audited body's perspective.
The session will also cover auditor's responsibilities, how their internal review processes work and why they ask particular questions.
This is an opportunity for Providers to ask questions to their relevant regulators about specific accounting and standards.
This is an opportunity for Commissioners to ask questions to their relevant regulators about specific accounting and standards.
Related content
This conference will keep all those involved with NHS charities up to date with any changes to practices and procedures.
This forum will bring together national updates, topical issues, best practice examples and networking opportunities.