PracticeAuditKPMG report reveals foundation trust money unaccounted for

KPMG report reveals foundation trust money unaccounted for

KPMG examined the income the foundation trusts had received from the private patient care division

KPMG has revealed that foundation trusts could have earned an estimated £70m
more in private patient funds than their accounts show.

The discovery was made when union Unison challenged the regulators Monitor on
the size of the income cap foundations can earn from private clients, the
Health
Service Journal
reported.

Unison head of health Karen Jennings said they had feared this outcome.

‘This is at least as bad as we feared. Foundations can do this because they
have been given the scope to by Monitor,’ said Jennings.

Monitor commissioned KPMG to look into the income the trusts had received
from the private patient care division.

KPMG found that £70m could be viewed as private income under the widest
possible definition. If the trusts had reported all income from private
clients, 24 of the 40 foundation trusts could have breached their cap.

The Big Four firm concluded that the widest definition could consist of
services to private patients including catering, and money recouped from private
insurers for road accident victims.

Further reading:

Survey
finds foundation trusts’ hidden private income

KPMG
gets court order to question Unwins director

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