Select committee: Public Accounts Committee
Conclusion 13
2nd Report - NAO financial audit insights 2024–25
Published 22 May 2026
Addressed to HM Treasury
Public Accounts Committee NAO financial audit insights 2024-25 All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The 17 main departmental groups reported more than 2.7 million losses in 2024–25 amounting to £6.6 billion in total. The most significant reported losses related to cancelling or retiring assets, write-offs and debts no longer 24 Q 22 25 Q 22 26 Q 23 27 C&AG’s report, para 3.28 28 Q 18 29 Q 18 30 Q 18 9 being pursued, and fraud. In addition, these departments made special payments of £293.5 million for non-standard transactions outside of allowed activities in 2024–25.31 Special payments can be made for many reasons, such as for adverse legal costs, compensation, or goodwill gestures related to personal injury or damaged property.32
From: Public Accounts Committee, 2nd Report - NAO financial audit insights 2024–25 (HC 94), 22 May 2026
Government response
The government responded to the whole report on 4 August 2026 (deadline 22 July 2026).