The centre, which is based in Cardiff, offers the Chartered Public Finance Accountant (CPFA) qualification, with specific focus on Welsh issues.

Students from NHS Wales, the Welsh government and a number of local authorities were the first to begin the three year long course at the new training centre.

The centre, to help with training, also uses online services.

Chris Tidswell, head of CIPFA Wales, said: ‘With £38bn annual public spending and the power to shape its own services, Wales needs a new generation of public finance professionals with bespoke training and support.

‘The public sector in Wales is a hotbed of innovation with particular strengths in providing services to diverse communities. The CIPFA Cardiff training centre will help strengthen public financial management in Wales and spread Welsh innovation across the UK.’

Christine Salter, corporate director resources, City of Cardiff Council said: ‘The CIPFA professional qualification is the world’s leading public finance qualification. CIPFA qualified accountants are recognised for their skills, knowledge and professionalism.

‘This represents a unique opportunity, not only to improve public financial management in Wales, but also for organisations to unite and support the Welsh public sector finance community.’