The triumphant NHS turnaround, from a gross deficit of £547m to a £515m
surplus in a year, has been challenged by the
Public Accounts Committee.
Chairman Edward Leigh called the achievement in the 2006/07 accounts
‘commendable’, but added: ‘The headline figures mask some unwelcome evidence
that the NHS is not yet travelling along the road to long-term financial
More than one in five NHS organisations ran up a total deficit of £917m, and
some trusts only achieved budget by cutting back on healthcare, Leigh said.
There was ‘evidence that financial balance was achieved by slowing down or
postponing some healthcare’.
The surplus follows two years of rising deficits. It was achieved by
top-slicing some budgets to hold in reserve, with targeted support for the
worst-performing bodies and tighter management of resources by the Department
Leigh said: ‘Bad financial management at local level can have significant
consequences for patients: there is a clear link between financial performance
and the quality of clinical services. This is a lesson which must be driven home
across the NHS, to both financial and clinical staff.’
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.