PracticePeople In PracticeMet denies report shows £70m overspend

Met denies report shows £70m overspend

The Metropolitan Police is denying reports it overspent its budget by more than £70m, saying the out-turn for 2000/2001 was under £8m.

And the Capital’s police force said the majority of the extra spending had been spent on overtime. This was in part due to the massive police presence laid on for the May Day demonstrations earlier this year.

But doubts still hang over the Met’s internal financial controls.

A report from the chief internal auditor, who reports to the Treasurer of the Metropolitan Police Authority, said: ‘I can offer little assurance on the adequacy of internal control in the MPS. Although there is an increasing awareness of the need for adequate controls, there is an issue around the lack of accountability and acceptance of responsibility.’

This year the Met, which has the largest police budget in the country, switched from a cash accounting regime to an accrual system, and is currently restructuring its finance function.

It also said it was looking for an extra 21 finance staff and in the short term would be helped by its previous external auditor, KPMG. Last year KPMG produced a highly critical report on the Met’s internal controls.

Links

More on the KPMG report

Metropolitan Police

Related Articles

Is inefficiency stealing your time and money?

Accounting Firms Is inefficiency stealing your time and money?

6m Emma Smith, Managing Editor
CIMA elects new president

Institutes CIMA elects new president

6m Emma Smith, Managing Editor
Transparent currency trade: How to achieve costs visibility

Governance Transparent currency trade: How to achieve costs visibility

6m Emma Smith, Managing Editor
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
EY appoints head of UK Infrastructure Asset Intelligence practice

Accounting Firms EY appoints head of UK Infrastructure Asset Intelligence practice

8m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
MHA MacIntyre Hudson advises on management buy-out

Accounting Firms MHA MacIntyre Hudson advises on management buy-out

10m Emma Smith, Managing Editor