Public finance accountant
Public finance accountants make sure money is spent properly in public sector organisations.
Also known as: Chartered public finance accountant
- Starter salary£25,000 a year
- Experienced£60,000 a year
- Typical hours37 to 39 a week
What you'll do
As a public finance accountant you could:
- prepare financial records and statements
- make sure records meet legal and ethical standards
- monitor spending and cashflows
- advise treasury departments on investments and borrowing
- manage an organisation's financial systems and processes
- conduct internal audits
- present reports to boards and budget holders
Working environment
You could work in an office.
Skills and knowledge you'll need
You'll need:
- knowledge of economics and accounting
- maths knowledge
- to be thorough and pay attention to detail
- administration skills
- analytical thinking skills
- the ability to work well with others
- ambition and a desire to succeed
- the ability to use your initiative
- to have a thorough understanding of computer systems and applications
How to become a public finance accountant
You can get into this job through:
- a university course
- an apprenticeship
- training with a professional body
University
Training in public finance accountancy is open to graduates of all subjects, though some employers may prefer you to have a degree in:
- accounting and finance
- business and management
- maths
- economics
- public administration
Look for work experience opportunities during your studies, as these can give you an advantage when applying for jobs.
Opportunities include:
- insight days
- virtual and in person work placements
- Easter and summer vacation schemes
- internships
After your degree you could join a structured graduate training scheme. Many employers will help you to gain the Professional Accountancy Qualification (PAQ) with the Chartered Institute of Public Finance and Accountancy (CIPFA).
There may be some exemptions for the certificate level of the PAQ, depending on your degree.
You can find graduate training schemes with:
- local and central government
- housing associations and charities
- the NHS and other healthcare bodies
- police authorities and the military
- private sector accountancy firms that offer services to public sector organisations
Entry requirements
You'll usually need:
- 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths
- 2 to 3 A levels, or equivalent, for a degree
Apprenticeship
You could take your first steps into an accountancy career by applying to do a Professional Accounting Technician or Professional Taxation Technician Level 4 Higher Apprenticeship. These can take up to 2 years.
You might then use this as entry onto the Accountancy Professional Level 7 Apprenticeship, or an accountancy degree at university.
Entry requirements
You'll usually need:
- 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship
Other routes
You could study with the Chartered Institute of Public Finance and Accountancy (CIPFA) to qualify.
You would complete the Professional Accountancy Qualification (PAQ) .
You can apply to take the CIPFA PAQ if you're:
- over 18 and have at least 3 GCSEs, grades 9 to 4 (A* to C), and 2 A levels - including English and maths at either level
- a graduate with an accountancy related degree
- an accountant qualified with a different professional body
- a part-qualified accountant
- a chartered internal auditor
- a graduate with the Association of Accountancy Technicians
You could also do the CIPFA PAQ if you're in a senior public finance role but don't yet hold a professional accountancy qualification.
Career path and progression
With experience you could become a senior accountant, move into management or progress to a director of finance position.
You could also move into private practice or management accountancy.
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Contains public sector information licensed under the Open Government Licence v3.0