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Defence Estate Quality Management System (DEQMS) Davis Langdon Certification Services

Finance Compliance Element Finance

Implementation & Operation

Finance Shared Services implementation plan relates to the roles and responsibilities of all members within the Finance Domain in Defence. Finance shared services model is a combination of pooled and embedded functions. Pooled functions within central Chief Finance Officer Group (CFO) head office includes:

  • Treasury and banking
  • Taxation
  • Accounts payable and receiveable processing cells
  • Financial systens and chart of accounts maintenance
  • Reporting

Embedded functions performed by CFO Finance staff embedded withinn each Group/Division and Branch include:

  • Budget management
  • Strategic financial advice
  • Project accounting and reporting
  • Financial analysis
  • Intergration between business units and CFO head office
  • Financial compliance and assurance
  • Payments processing for payment under security of payment legislation

The Chart of Accounts (part of FINMAN 3) is the framework for categorising the ‘who’ and ‘what of an organisation’s financial transactions. It is the backbone of the financial and accounting management system and underpins Defence’s external and internal reporting requirements.