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 replaced 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

Managing Resources - Implementing Resource Based Financial Management
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
Management of Risk - Principles and Concepts
Audit Committee Handbook
'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 2004-05
Trading Funds Accounts Guidance 2004-05
Government Internal Audit Standards
Regularity, Propriety and Value for Money
Dear Accounting Officer Letters
National Audit Office / HM Treasury guide: Good practice in tackling external fraud
Guide to Scrutiny of Public Expenditure

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

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)

Public Spending and Services index