C&AG: Finance system €68m over budget and 3 years late

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The rollout of a new shared financial management system for the public service is expected to cost €68m more than was originally budgeted and be delivered nearly four years behind schedule.

That's according to a report by the Comptroller and Auditor General examining the implementation of the Financial Management Shared Services project, which found that so far a working version of the system has not yet been delivered, even though it was due for completion in June.

"This has turned out to be significantly more challenging than originally envisaged," the C&AG report concludes. By the end of last year, the National Shared Services Office had spent €38.4 million ex VAT on the project and it is expected that an additional €15 million will be spent this year. A review has since been completed with a revised design specification prepared and an agreed chart of accounts signed off this year.

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