Audit, Accounting and Accountability index

Until the financial year 2001-02, government accounted for expenditure solely on the basis of cash spent and cash received.  From 2001-02, resource accounts replace appropriation accounts as the means by which each government department sets out for Parliament, as the public’s representative, how it has used the resources allocated to it by Parliament (see Parliamentary Supply).  Resource Accounts are accruals based accounts – recording expenditure when it is incurred, not when it is paid out, and income as it is earned, not when it is received.  Thus they provide a more accurate and useful picture of the government’s consumption of resources, and better incentives for departments to improve their asset management.  Follow the links below for an introduction to and detailed explanations of the new accounting and budgeting systems.
The Government’s long term aim is to publish fully audited Whole of Government Accounts (WGA), starting in 2006/07, based on Generally Accepted Accounting Practice (GAAP), covering the whole of the United Kingdom public sector.

Associated Documents

• Management of Risk - Principles and Concepts
• 
  Audit Committee Handbook
  
• 
  Managing Resources - Managing the Links to Parliamentary Supply
  
• Managing Resources - Analysing ResourceAccounts: an Introduction
• Managing Resources - Analysing Resource Account's: a User’s Guide
• Managing Resources - Implementing Resource Based Financial Management
• Managing Resources - Better Decision Taking in Departments: Third Edition
• Managing Resources - Reporting to the Board  
• Managing Resources - Accountability  
• Managing Resources - Faster Closing  
• Managing Resources - Case Studies  
• Managing Resources - Maximising the benefits for Departments  
• Managing Resources - A Strategic approach to Finance Training  
• 'Audit and Accountability for Central Government', the Government's response to the Sharman Report, 'Holding to Account' – the Government's response to the independent review of arrangements for the audit and accountability of central government in the 21st century.  The Sharman report itself is also included on this page.
• Fraud Reports- Annual reports produced by the Treasury to assist in combatting fraud.
• Managing the risk of Fraud
• NDPBs Annual Reports and Accounts Guidance 2003-04
• Trading Funds Accounts Guidance 2003-2004
• Government Internal Audit Standards
• Regularity and Propriety 1997
• Dear Accounting Officer Letters
• National Audit Office / HM Treasury guide: Good practice in tackling external fraud

Financial Reporting Advisory Board – The FRAB is an independent body which advises the Treasury on its financial reporting standards and principles.  This webpage gives its terms of reference, membership, reports and press notices.

External links

• Whole of Government Accounts: comprehensive details of the WGA project  
• Government Accounting: website of the Government Accounting manual  
• Resource Accounting: website of the Resource Accounting manual  

The Government Internal Audit Standards document is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.

For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

Media links

• PDF file of Government Internal Audit Standards: Good Practice Guide on Audit Strategy (90KB)  

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