Source · Select Committees · Public Accounts Committee
Recommendation 21
21
Acknowledged
Treasury recognises the need for proportionate financial reporting and improved fee transparency.
Conclusion
The NAO report highlighted the importance of proportionate financial reporting requirements, particularly for smaller bodies.43 We asked how the Treasury will make sure its disclosure requirements are proportionate. The Treasury told us that it is mindful of the administrative burden, and it intends to do more to help departments improve transparency and ensure the public and Parliament have a clear understanding of how fees are set and what they cover.44 Incentivising efficiencies
Government Response Summary
The Treasury will update the Financial Reporting Manual (FReM) to align to 6.11 of Managing Public Money (MPM) by Spring 2026 to include clearer reporting guidance for fee-charging public bodies to ensure more effective Parliamentary scrutiny and will continue to keep this under review including considering as part of a wider review of Central Government financial reporting.
Government Response
Acknowledged
HM Government
Acknowledged
4.1 The government disagrees with the Committee’s recommendation. 4.2 The government agrees that published information on fees and charges should be improved. This needs to be balanced against the wider aim to reduce the financial reporting burden and efforts to improve timeliness of financial reporting more generally. The Treasury will update the Financial Reporting Manual (FReM) to align to 6.11 of Managing Public Money (MPM) by Spring 2026 to include clearer reporting guidance for fee-charging public bodies to ensure more effective Parliamentary scrutiny. 4.3 The government will continue to keep this under review including considering as part of a wider review of Central Government financial reporting and consider if this will be sufficient or whether additional reporting requirements are necessary to achieve the Committee’s objectives.