Published: 06 July 2006
Welsh Government improves financial management
The Welsh Auditor General has commented that standards of financial management in the Welsh central government and NHS sectors remain generally good and continue to get better, but improvements are necessary to control over grant-spending, asset management and payment standards.
The report summarises the 2004/2005 accounts of the National Assembly for Wales, its related bodies, local NHS bodies in Wales and European-funded projects.
Overall, the report found that accounts are being prepared more promptly and that there are improving arrangements for financial management.
Central government bodies are making good progress in relation to the management of risk and the requirements of the Freedom of Information Act and there are signs that financial management of EU-funded projects is improving.
Also, Value Wales is continuing to help secure better value for money from public sector procurement - reporting actual savings of £18 million in 2005.
The report describes how the Auditor General will supplement his work next year with extra risk-based reviews.
This work is to ensure that there will be no reduction in the degree of financial scrutiny applied to some areas of spending following the Assembly’s structural reforms, such as the merger of former sponsored bodies into the Assembly Government.
Jeremy Colman, Auditor General for Wales said today,
"My report highlights encouraging signs of improvement, but there is certainly no room for complacency.
All central government and NHS bodies will need to act on my recommendations regarding systems of control, to ensure that standards are maintained.
Recent structural reforms in Wales place an even greater premium on the availability of sound management information to make them work."
Further information
Audit report
Wales Audit Office
National Assembly of Wales
NHS Wales
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