Principal Financial Accountant

Client

Local Authority in Barking

Job Title

Principal Financial Accountant

Pay Rate

550 DAILY UMBRELLA

Hours

35 hours Mon to Fri (09:00:AM - 05:00:PM)

Duration

Initial 3 month Contract

Location

Hybrid Working- 3 days a week office based in Barking Town Hall

Description

Responsible for:

Manage the year-end accounts closure process and lead on the integrity, accuracy and transparency of the Council's financial reporting, ensuring compliance with statutory requirements and professional standards. The role supports robust financial governance and continuous improvement by overseeing financial accounting processes, systems, VAT compliance and stakeholder engagement.

Specific Accountabilities of the Role:

1. Maintain accurate and meaningful financial data through regular data integrity reviews, system reconciliations and cleansing of the chart of accounts, balance sheet and trial balance.
2. Lead the closure of accounts process, develop and maintain financial reports, processes and timetables to complete the year-end reporting cycle.
3. Contribute to the production of the annual Statement of Accounts, including Group Accounts and Whole of Government Accounts, ensuring compliance with statutory regulations, accounting standards and audit requirements.
4. Prepare and maintain detailed disclosures in the 'Notes to the Financial Statements', ensuring clarity, transparency and regulatory compliance.
5. Produce financial reports and/ or draft financial implications for reports to Boards, Members, partners and other external agencies, present reports at meetings and represent Finance in meetings. Ensure all reports contain comprehensive evidenced-based financial information that accurately reflects the financial and accounting implications of the options under consideration and provide a recommendation from a financial perspective.
6. 1. Provide expert advice on accounting treatment, VAT and complex financial matters, including preparation of VAT returns, partial exemption calculations, the overview of properties that have been Opted to Tax and resolution of HMRC queries.
   2. Ensure compliance with CIPFA Codes of Practice, accounting standards, financial regulations and audit standards, undertake investigation to address breaches and non-compliance promptly.
   3. Support the monitoring and reconciliation of the Collection Fund and associated statutory submissions in partnership with Revenues & Benefits.

Knowledge, Skills and Experience:

Technical Proficiency (at least 3 years' experience):

Proven experience delivering end-to-end financial reporting cycles, including leading the closure of accounts, drafting statutory financial statements, and preparing detailed disclosure notes in line with regulatory standards.

Experience of working in or with large complex public sector organisations in a similar capacity, and in-depth knowledge of Local Government Finance

Good understanding of the Movement in Reserves Statement (MiRS) and its role in reflecting the adjustments between accounting basis and funding basis under statutory provisions

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