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Financial and risk managament

About financial and risk management

Our teams are uniquely placed to comment on how well public finances are managed and governed, and our experience covers a broad range of essential business skills and disciplines.

Given the scale of government spending, and the unique challenges government faces, it is essential that good practice is shared.

Our knowledge and insights can help government:

  • monitor and control planned expenditure;
  • identify links between resources, outputs and outcomes to understand and improve value for money;
  • manage risk effectively, to support innovation and mitigate service failure;
  • improve processes for managing fraud and errors;
  • ensure complex decisions are underpinned by robust financial analysis; and
  • be transparent and accountable

The reports and guidance on this page contain analysis, case studies and advice for government to deliver better financial and risk management.


Bundles of £20 pound notes

Tackling the tax gap

This report examines the effectiveness of HMRC’s approach, in partnership with HM Treasury, in reducing the tax gap.

a stethoscope lying on a laptop

NHS financial sustainability

Our report recommends systemic changes to establish more stable long-term funding and improve financial transparency.

chairs in Parliament

Accountability to Parliament for taxpayer’s money

Four areas of financial management that can help Accounting Officers.

More publications →

Work in progress

Local government finance and the pandemic

An examination of the evolving financial pressures on local government resulting from COVID-19 and central government’s measures to support financial sustainability.

Infographic: £850 billion: approximate annual UK government spend on public services, social security payments and major capital projects

Our experts

Claire Rollo

Claire has led our audits of fraud and error in benefit expenditure since 2015. She uses insight from this work to help departments and other bodies respond to specific fraud and error challenges, sharing best practice with colleagues across the NAO and government to reduce losses from fraud and error.

Steven Corbishley

Steven’s work focuses on improving financial transparency. Working across a number of government departments, he has promoted the use of Annual Reports and Accounts as mechanisms for holding bodies to account. For example, as our first Director auditing the Whole of Government Accounts, his commentary provided unique insights into the UK’s public sector balance sheet.

Steven is on the judging panel for the annual Building Public Trust Awards, making recommendations on which public sector annual reports are ‘best in class’.