Select committee: Public Accounts Committee
Conclusion 15
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)
Despite these large amounts, HMT noted that special payments and losses are areas of much greater transparency in the public sector compared to the private sector, due to more stringent reporting requirements. In contrast, private businesses only declare losses and special payments if the amounts involved are considered material to their accounts.37 31 C&AG’s report, paras 2.5 and 2.8 32 C&AG’s report, para 2.10 33 Q 32 34 Q 32 35 Q 28 36 Qq 28 and 32; C&AG’s report para 2.9 37 Q 28 10 2 Key risks and challenges IT change and digital transformation in government
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).