“London Underground and the Secretary of State should not take a decision solely on the basis of the numbers emerging from their financial analysis. There are other important factors that need to be considered alongside the figures to assess the best value for money option.”
“My report provides a large measure of assurance about the Inland Revenue’s administration of petroleum revenue tax. I endorse the Department’s policy of continuing to develop its risk-based approach to the tax. Closer working with other government agencies and regular assessment of performance will help ensure that resources remain focused on areas of higher risk.”
“The partnership entered into by the Agency demonstrates that public sector bodies can produce innovative solutions to traditional problems. The project demonstrates that, properly managed, risk taking and innovation can lead to improved value for money for taxpayers.”
Sir John Bourn, head of the National Audit Office, told Parliament today that, since the 1995 drought, leakage in England and Wales has been reduced by some 1.8 million cubic metres a day, equivalent to the amount of water used daily by more than 12 million people. The National Audit Office examined how the Office … Read more
“I welcome the encouraging signs that the Ministry of Defence is improving cost control on major projects and in future Major Projects Report I will look to see that this improvement is sustained. It is also reassuring that the Ministry of Defence is expecting to meet the technical requirements for new equipment for the Armed Forces. However, that equipment is not always available on time is a concern and it is disappointing that the average project delay is getting longer. The Ministry of Defence must translate the improvements on cost that are coming through under Smart Acquisition to time as well and must reduce project delays.”
Sir John Bourn, head of the National Audit Office, today reported to Parliament that in October 1998 the National Museum of Wales made an irregular payment to Mr Tim Arnold, their departing Assistant Director (Resource Management).
Sir John Bourn, head of the National Audit Office, today reported to Parliament on the 1999-2000 account of the Millennium Commission, without qualifying his audit opinion on those accounts. The full text of his report is attached.
“Building and opening the Millennium Dome on the very short timescale required was a tremendous achievement. But the New Millennium Experience Company has experienced severe financial difficulties this year and has required considerable additional lottery funding.
“The main cause of these difficulties is the failure to achieve the visitor numbers and income required. The targets were highly ambitious and inherently risky leading to a significant degree of financial exposure on the project. In addition, the task of managing the project has been complicated by the complex organisational arrangements put in place from the outset, and by the failure to establish sufficiently robust financial management.”
“The Board have assured me of the importance they place on effective internal financial controls, and they are confident that these controls have now been restored. I remain concerned, however, that these problems arose.
The lesson for other public bodies from the Board’s experiences is that, when letting and managing such a contract, potential risks need to be identified, evaluated, mitigated and managed so that the fundamental responsibilities of the Board and its Accounting Officer for the proper management of its resources can continue to be discharged.”
