Treasury accounts held back as auditor refuses to sign off
THE National Audit Office (NAO) has refused to sign off the accounts of five public bodies – including the Treasury – it was revealed yesterday.
It raised questions over the Treasury’s accounts because the department failed to to agree its toxic assets insurance scheme with parliament.
And it emerged that the NAO had “qualified” the accounts of four other bodies, meaning it has further questions that need answering.
The accounts of the Ministry of Defence, HM Revenue and Customs and the Department for Work and Pensions failed to get the approval of the auditors.
And the Equality and Human Rights Commission made unauthorised consultancy payments to seven former members, totalling £323,708, drawing criticism from the auditors.
This is only the second time in the Treasury’s 350-year history it has had its accounts queried by the auditors.
The NAO said overall the Treasury spent £24bn more last year than parliament had authorised.
The Treasury said the move is a “technical” hitch and no concerns have been raised about the £20bn to £50bn price tag of the scheme.