Tougher monitoring powers were demanded by the committee after MPs discovered that at least £12 billion of taxpayers’ money spent each year is not subject to proper parliamentary scrutiny.
The money funds a range of public services through executive agencies, quangos and even private companies that are able to evade checks by independent auditors. They range from the Government’s New Deal for the unemployed to the private operators running six prisons, the Student Loans Company, and many housing associations.
One of the biggest contracts is with the Chessington Computer Centre, which processes the annual £4 billion Civil Service pay bill. Due to privatisation the new owners do not have to provide the National Audit Office with access to their records.
The cross-party group of MPs demanded statutory rights of access for the Comptroller and Auditor General over all non-departmental bodies that spend public money, including private companies.
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
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
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast