A Level Economics Revision: Market Failure & Government Intervention

An estimated 3.7 million people are citizens of other European Union countries and currently live and work in the United Kingdom – many calling the UK home for years. They work in virtually every private and public sector of the economy, pay taxes, buy and consume the goods sold by local shops, own and rent homes and businesses, educate their children in the local schools, and otherwise participate in British life alongside UK citizens.

Government cash management can be defined as “having the right amount of money in the right place and time to meet the government’s obligations in the most cost-effective way”. Despite the clarity of this definition and the multiple references in the IMF-WB Guidelines, the exact perimeter of government cash management is not always consensual: “from the perspective of budget policy or management, it is an internal government function - ensuring that cash flows to where it is needed without wastage or idling. But to debt managers and central banks it is about the impact and management of the government’s cash flows in the financial sector”.

Amidst the changing tech landscape, data is and will remain one of the most valuable resources for the public sector. In recent years, much emphasis has been placed on IT modernization and digital transformation across government - from the President’s Management Agenda to the establishment of the IT Modernization Centers of Excellence. But transformation is only possible when an organization’s data is protected, shared, accessed, tapped, and applied effectively and efficiently.

Many companies doing business with the federal government or looking to start, don't fully understand the many rules and regulations that come with federal contracts. Many of these companies struggle to implement the proper internal controls to ensure compliance and avoid audit pitfalls. This topic helps the persons responsible for compliance to understand how to establish an internal control system for federal government contractors. The material explains the unique challenges with that come with different contract types.