Conclusion 8

HMT agreed there are considerable benefits to reporting by summer because this frees up finance teams to focus on more value-added and forward-looking activities in the autumn.16 HMT and the GFF told us they provide support for the annual accounts process, and particularly for those that routinely submit their accounts late, in several ways. For example, HMT seeks to share learning through various finance groups or communities of practice, and by publishing good practice guides on specific issues or initiatives such as when new accounting standards are introduced.17 It also works closely with cross-government functions, such as Government Internal Audit Agency and UK Government Investments, to strengthen understanding of financial controls or provide technical assistance around complex accounting issues.18 HMT sought to reassure us there were real personal and professional consequences for the accounting officers of organisations that submitted their accounts late. However, it did not provide a convincing response when we asked for previous examples of this.19 Qualified annual reports and accounts