PM quiet on qualified accounts
Prime minister Tony Blair has flatly refused to publish more details of the irregularities which led to the National Audit Office qualifying the financial statements of the UK's security and intelligence services.
Prime minister Tony Blair has flatly refused to publish more details of the irregularities which led to the National Audit Office qualifying the financial statements of the UK's security and intelligence services.
Link: PM faces security audit grilling
He said the ‘shortcomings’ in the secret accounts of the Government Communications Headquarters were being taken ‘seriously’ but implied when stating that steps were being taken to ‘improve the situation’ that it had yet to be put right.
The prime minister also dismissed ‘weaknesses’ in the unpublished accounts of other security agencies as ‘of a smaller scale’ and said steps had already been taken to deal with them.
He was replying to a demand from Labour accountant MP Harry Cohen for details of the ‘weaknesses of control’ identified in the accounts by NAO chief Sir John Bourn. Sir John’s report indicated they were not complying with ‘generally accepted accounting practice’ or the requirements of the government’s own resource accounting manual.
Cohen put formal questions to Blair in the Commons after Accountancy Age revealed the problems earlier this month.
Blair insisted: ‘It is a long-standing government policy not to make public information relating to the accounts of the individual security and intelligence agencies.’
The numbers you crunch tell a story. Your expertis...
21yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Bank of England has appointed Ernst and Young LLP (EY) as its external auditor from the financial year ending 28 February 2025. Read More...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View article