Opinion – Treasury must get a grip on financial risks highlighted by accounts – News from Parliament – UK Parliament

Read the original Public Accounts Committee report on the financial risk in the Whole of Government Accounts.

Source: Treasury must get a grip on financial risks highlighted by accounts – News from Parliament – UK Parliament

Having been a finance director of a major UK government department, I can readily relate to the content of the report.

As I read the PAC report I worry that these findings might have been OK pre-Brexit decision but now a much tougher regime is required.

Risk modelling needs to be much more sophisticated and sensitivity analysis is required against alternative Brexit scenarios. Also best practice in the private sector is necessary, like WGA in three work days. There is is still enormous opportunity for consolidation across government moving to national service centres.

Thoughts?

 

 

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