ACCA calls for public contracts transparency

ACCA has partnered with Open Contracting Partnership (OCP) to call for more transparency, accountability and value for money in public procurement.

The association signed a Memorandum of Understanding with OCP, a global group that promotes open, fair and sustainable public contracting. As part of the alliance, both groups are advocating for changes in UK law to “ensure that the best practices are embedded in public procurement”.

The MOU was signed by Helen Brand, chief executive of ACCA, and Gavin Hayman, executive director of OCP at ACCA’s headquarters in London.

Brand said: “Accountability and fairness in public procurement are very important to our members, and they’re important for society too, because they go to the heart of trust in government.

“Between a third and a half of government spending goes on procurement, and it’s vital that taxpayers get value for money. ACCA and OCP are in an important position to act as a bridge between the needs and interests of private and public providers, as well as guarding value for money for taxpayers.”

She added: “The Covid crisis has pushed forward the conversation about the best practices for public procurement, and how accountants can play their part in promoting and protecting taxpayers’ interests. Along with our friends from OCP, we have extensive experience which can help governments agree on first principles on what fair procurement looks like.”

Hayman said: “Our world runs on public contracts. We have a unique opportunity to transform antiquated, paper-based approaches to public spending to make it smart, digital and accountable. We are excited to work with ACCA and its huge network of accountants to that end.”