PracticePeople In PracticeMPs to press for public sector accounting body at Treasury grilling tonight

MPs to press for public sector accounting body at Treasury grilling tonight

The chief secretary to the Treasury will asked why a new independent accounting standards body for the public sector can not be included as part of the Government Resources and Accounts Bill.

The Government has already rejected the suggestion at a meeting of a standing committee debating the Bill, but Andrew Smith appearing before the Commons Public Accounts Committee tonight, is likely to be pressed on the issue and asked to explain why a new body could not be brought into being.

Such a body would produce guidance which mirror standards issued by the Accounting Standards Board already employed in the private sector.

A source close to the committee said only by setting up an independent body could the Bill be effective.

The committee is also understood to want to ask Smith how the Comptroller and Auditor General of the National Audit Office can be guaranteed access to all public bodies.

A recent statement from the PAC revealed that more than £3b of government expenditure was not covered by the Bill.

Treasury chief facing grilling tonight over Resource Accounting

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