NAO financial audit insights 2024-25

The National Audit Office (NAO) performs financial audits of over 400 public organisations, overseeing £1.2trillion in spending, providing assurance to Parliament as it does on how taxpayers’ money is being spent. It establishes whether organisations’ financial statements are true and fair, and whether what is being spent and collected is in accordance with Parliament’s intentions. … Show more

The National Audit Office (NAO) performs financial audits of over 400 public organisations, overseeing £1.2trillion in spending, providing assurance to Parliament as it does on how taxpayers’ money is being spent. It establishes whether organisations’ financial statements are true and fair, and whether what is being spent and collected is in accordance with Parliament’s intentions. The public finances are constrained, meaning that government is constantly under pressure to do more with less. A strengthening of financial reporting standards in recent years has led to longer and more complex annual reports for many public sector organisations. The Public Accounts Committee’s (PAC) report on the Whole of Government Accounts 2022-23 warned government’s accounts are not focused sufficiently on long-term financial risks posed by climate change, rising health spending, and geopolitical tensions. It further highlighted the fact that there was not enough oversight over worsening local authority finances. The NAO in 2026 publishes a report laying out lessons and findings from its financial audits in 2024-25, which aims to highlight areas of emerging importance for government to focus on. Proceeding from the NAO’s report, the PAC will take evidence from senior Treasury officials as it scrutinises the key lessons and measures from the report that ought to be put in place to ensure proper transparency, accountability and scrutiny of public money. If you have evidence on these issues, please submit here by 23:59 on Thursday 5 March 2026 . Please look at the requirements for written evidence submissions and note that the Committee cannot accept material as evidence that is published elsewhere. The Committee decides what information to publish and how. You can request anonymity or confidentiality when you send evidence, but it is for the Committee to say whether it will agree.It may treat submissions confidentially, even where you have not requested this. Please note that the Committee’s inquiry cannot assist with individual cases. If you need help with an individual problem you are having, you may wish to read the information on Parliament’s website about who you can contact with different issues. Show less