19 September 2019
Treasury and Exchequer has responded to the ‘report on Financial Management and Internal Control’ issued today by the Comptroller and Auditor General (C&AG).
The report follows up on previous reports, carried out since 2014, on the effectiveness of financial management and internal controls in the public sector.
In her report, the C&AG, Karen McConnell, notes that “real progress has been made in delivering the recommended changes from previous reports.”
She also highlighted and welcomed the work undertaken to “strengthen consideration of finance matters by both the Council of Ministers and the Executive Management Team and to emphasise the importance of working together on finance.”
Speaking about the findings of the report States Treasurer, Richard Bell, said: “I would like to thank the C&AG for carrying out the follow-up review, and for acknowledging and praising the progress made by Treasury and Exchequer.
“In her review, the C&AG has highlighted the significant work carried out by the department in the past year, in particular the implementation of a new Public Finances Law, preparation of a new Public Finances Manual, the earlier publication of the States Annual Report and Accounts and a new Risk Management Strategy.
“Critical to the delivery of improved financial management were the key structural changes that took place, consolidating all finance staff into Treasury and Exchequer with a new operating structure. I would like to thank the team that led this transformation and for the patience and dedication of colleagues during this period of change.
“I also welcome the recommendations made by the C&AG to further improve our financial management and internal controls, recognising the work still to do and the investment required. While some of these actions are already underway, I will be working with my leadership team to put in place an action plan to address the recommendations made.”
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