The Financial Conduct Authority cannot know whether its activities are reducing the overall scale of financial services mis-selling to consumers. The most prominent example of mis-selling is Payment Protection Insurance (PPI). Between April 2011 and November 2015, firms paid out £22.2 billion in compensation to more than 12 million customers who had bought PPI.
In 2011, the Financial Ombudsman Service invited the National Audit Office to conduct a review of the efficiency of its operations.
This report examines the use of financial models across government.
Head of the National Audit Office Sir John Bourn today reported to Parliament on the financial management of European Union funds. Today’s report highlights the main findings of the latest Annual Report by the European Court of Auditors, which was published in November 2001 and covered the management of the General Budget of the European […]
Head of the National Audit Office Sir John Bourn today reported to Parliament on developments in the financial management of European Union funds. His report summarises the main findings of the latest Annual Report by the European Court of Auditors, which covers the management of the General Budget of the European Union for 2002. Sir […]
Today Sir John Bourn, head of the National Audit Office, reported to Parliament on developments in the financial management of European Union funds. His report summarises the main findings of the latest Annual Report by the European Court of Auditors, published in November 2004, which covers the management of the General Budget of the European […]
Sir John Bourn, the Head of the National Audit Office, today reported to Parliament on the need to strengthen the financial management of European funds and tackle fraud and irregularity, and on the far-reaching programme of reform that the European Commission is seeking to implement over the next two years. Sir John’s report highlights the […]
Sir John Bourn, the head of the National Audit Office, today reported to Parliament on the financial management of European funds. The European Commission has made some headway in implementing its programme of reforms, but it is too early to say how successful they will be in reducing levels of error and fraud. Sir John’s […]
The NHS reported a surplus of £1.67 billion in 2007-08. According to a report jointly prepared by the Audit Commission and the National Audit Office and published today, the surplus achieved reflected good use of resources rather than a failure to deliver healthcare. The Department of Health (DH) has given a commitment that the NHS […]
There was a deficit across the NHS as a whole in 2004-05 for the first time since 1999-00. Latest figures also show the deficit has worsened for 2005-06. Compared to 2003-04, the number of NHS bodies with deficits increased, and more of these deficits were significant in size, according to Financial Management in the NHS, […]
The challenges facing local NHS bodies are unprecedented and improved financial management will be essential to meeting them, according to a study by the National Audit Office and the Audit Commission. The report, Financial Management in the NHS, published today, is the first joint study carried out by the NAO and the Commission. It shows […]
The Home Office has improved the financial management of its core business but strengths at the centre are not being demonstrated in its ‘change programmes’.
The Home Office has made substantial improvements in its financial management since 2006, when the Comptroller and Auditor General disclaimed an opinion on its 2004-05 Resource Accounts. Further sustained improvement will still be needed over the next few years, so that good financial management becomes “business as usual” across all of the Department’s operations, which […]
The Foreign and Commonwealth Office has made good progress in its financial management, aiming to establish itself as one of the best departments in Whitehall in this respect. It has shown strong leadership in raising the profile of good financial management across the Department, according to a report today from the National Audit Office. Up […]
Head of the National Audit Office Sir John Bourn has reported to Parliament on the financial management of European Union funds. Today’s report highlights the main findings of the latest Annual Report by the European Court of Auditors (November 2002) which covers the management of the General Budget of the European Union for 2001. The […]