Government’s unpreparedness for extreme weather events limits its ability to demonstrate whether value for money is being achieved.
This month’s top stories include a raft of Autumn Statement measures; HMRC issues its guidelines for compliance on what qualifies as R&D for tax purposes; and tips for returns for deceased individuals and estates.
HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC.
The Autumn Statement included several measures that are welcome news for businesses, but the medium-term outlook looks less positive.
Chartered Accountants' Hall recently hosted the inaugural face to face event for finance business partners working in central government departments, agencies and other public bodies.
What does the pandemic mean for attitudes to risk and for the social contract that has underpinned the free market?, asks ICAEW President David Matthews
19 November 2020: 8,600 pandemic-related contracts worth £18bn were entered into in the period up to 31 July 2020, but a lack of transparency in how they were awarded has given rise to serious concerns about how public money has been spent.
17 November 2020: Croydon Council has gone into section 114 ‘bankruptcy’ following years of overspending, losses on commercial investments and the effects of the coronavirus pandemic. What went wrong?
3 November 2020: The Cabinet Office has announced new guidance on procurement for government departments, executive agencies and non-departmental public bodies.
21 October 2020: Recent reports on the commercial activities of local councils in Wales and Spelthorne Borough Council’s £1bn commercial property bet highlight the pressures local authority finances are under.
16 September: The National Audit Office has issued a report on the £20m cost of exiting the failed Magnox contract to decommission nuclear research sites and power stations.
15 September: Making better use of public data could benefit the economy, public services and the quality of peoples’ lives – so can the UK Government’s long-awaited National Data Strategy deliver this? Alison Ring, Director for Public Sector at ICAEW examines the proposals.
Reports and Analysis
ICAEW engages with the Fabian Society and their pamphlet ‘Prizing the Public Pound’ on local audit and spending effectiveness in central government, in which they call for a future Labour government to reorganise, revitalise and expand public audit in England.
An ICAEW policy insight aimed at helping governments and parliaments understand how good balance sheet management can improve the overall management of the public finances.
The role of professional accountants is fundamentally about creating trust. Trust that numbers are correctly stated and that a true and fair account has been produced, showing what money has been raised and how that money has been used.
A decade after the corporate debt crisis, public debt is at an all-time high and continues to rise. The potential for a global public debt crisis should not be ignored. ICAEW shares policy insight.
In this publication, we explore the drivers for strong financial leadership and the skills and competences that, in our view, a strong finance leader should have.
ICAEW has a new addition to the better government series: a guide for stakeholders working with the UK Central Government Public Financial Management System.
Sustainable Public Finances: EU Perspectives. Synopsis of discussion on 8 November 2016
ICAEW has published a new framework guidance document Building blocks to better PFM - A cash to accruals accounting toolkit as part of its Better Government Series.