Value For Money Statement 2016 VFM Statement 2017 | Page 16
Registered providers
shall… How Accord delivers against these requirements
“Have performance
management and scrutiny
functions which are effective
at driving and delivering
improved VFM performance.” n The Accord Board and the Executive Board at each meeting receive a range of evidence based
assurance reports to measure and scrutinise performance in the context of agreed targets.
n Accord has an embedded, mature and agile approach to risk management, owned at a
Board level which includes regular reviews of risk appetite. The Risk Register informs
Accord’s annual internal audit plan.
n Accord’s Internal Audit function undertakes a series of reviews as part of an
approved plan of work as identified by the Finance, Risk and Audit Committee. These
reviews identify, where appropriate, performance improvement observations and
recommendations and improvement in internal controls. An additional layer of challenge
and scrutiny is provided by the FRAC.
n Accord’s senior management team has been tasked with undertaking a series of short-
life performance improvement projects. These are designed to quickly implement change
management process to improve performance.
n Monthly management accounts and budget monitoring reports are prepared and
scrutinised at a corporate, management and budget-holder level. Support and
intervention by Finance colleagues is undertaken as deemed necessary.
n People management processes include an appraisal framework which measures
performance against agreed objectives. There is a clear alignment with the business
plan strategic objectives, ensuring there is a clear line of sight between corporate and
personal objectives.
n The Board measures its own performance through robust reviews of the Code of
Governance (NHF) and compliance with Regulatory Controls.
n A Board approved VFM strategy and implementation plan is in place to ensure delivery of
key objectives. The VFM strategy has clear alignment to the business plan objectives and
is reported to Board.
n Contract management and review processes are in place to assess spend and quality
management matters. To ensure full value added is driven from all outsourcing
arrangements, contracts are managed closely by senior management colleagues with
regular reviews of performance, outputs, and liaison as required.
n The Chief Executive and Executive Director of Resources carry out performance reviews
of services to scrutinise and challenge current performance as well as to understand key
priorities for those services in the short and medium term.
n Board members act as sponsors or champions on specific areas of work ensuring that the
Accord offer benefits from wider private sector and other expertise.