Brexit & EconomyPoliticsState accounting overhaul on track

State accounting overhaul on track

The government is embarking on the biggest change in government accounting practices since the switch to resource accounting

Treasury minister Angela Eagle said the government had set a three-year
timetable to bring the government’s budgeting, forecasting and accounting
systems into line in the interests of ‘clarity, coherence, consistency and
transparency and therefore better accountability’.

Different systems are currently used to set the government’s control budgets,
present the annual estimates to parliament and publish audited resource
accounts.

The result, Eagle said, is that ‘it is not easy to compare planned
expenditure with actual expenditure’, with the differences causing ‘confusion
and inefficiency’.
Eagle said the project would see better alignment of budgets, estimates and
accounts.

‘I believe that it will be a welcome step towards making the various systems
easier to understand and more efficient to operate,’ Eagle said.

The Treasury will be working closely with the Public Accounts Committee and
the National Audit Office to make the accounting changes by the end of the
current expenditure round in 2010.

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

3m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter