HM Treasury is improving the content of the Whole of Government Accounts, which shows the overall financial position of the UK public sector, and the document has been produced faster than ever.
The NAO publishes a briefing paper considering capital investment by government and how it chooses to finance it.
This guide is designed to provide a quick and accessible overview of the financial services regulation, redress and advice bodies, using our published work. It covers:
• The responsibilities 5 financial services regulation, redress and advice bodies and how they spend their money
• Interaction and cooperation between the 5 bodies
• Our recent findings and future challenges for the 5 bodies
• Case studies on the impact of payment protection insurance mis-selling on the Financial Ombudsman Service and the financial crisis on the Financial Services Compensation Scheme
Under the Scheme, the Treasury guarantees that lenders to infrastructure projects will be repaid in full and on time, irrespective of project performance. The NAO is calling for the Treasury to be rigorous and objective in assessing whether the guarantees, which transfer risk to the public sector, are genuinely needed.
HM Treasury and HMRC do not keep track of tax reliefs intended to change behaviour, or adequately report to Parliament on whether tax reliefs work as expected.
Fiscal pressure on government departments is set to continue through the next Parliament, with citizen expectations continuing to rise. With the ‘more for less’ challenge continuing indefinitely and an increasingly complex public sector landscape, a strong and integrated finance function across government is crucial.
This Departmental Overview is one of 17 we are producing covering our work on each major government department. It summarises our work on the HM Treasury during 2013-14.
This fact sheet highlights the key changes in the HM Treasury-published Financial Reporting Manual (FReM).
This report draws together insights from our previous reports and those of the PAC on the role of, and recent changes to, the centre of government. The centre of government has responsibility for coordinating and overseeing the work of government, enabling it to achieve its strategic aims and ensuring there is a central view of the effective operation of government as a whole. Most of these strategic functions are performed by the Cabinet Office and the Treasury.
The Treasury Committee asked the National Audit Office to undertake an analysis of the VFM assessment process and model for PFI. The assessment process combines a quantitative and qualitative approach to VFM appraisal. Our review focused, primarily, on the use of the financial model in the VFM assessment process and was submitted to the Treasury Committee as part of their inquiry into PF2.
