Select committee: Public Accounts Committee
Conclusion 43
34th Report - Department for Business and Trade Annual Report and Accounts 2023-24
Published 25 Jun 2025
Addressed to HM Treasury
Public Accounts Committee Work of the Department for Business and Trade All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The Department stated that it has worked to bring forward the delivery of its 2024–25 accounts to September 2025, a four-month improvement in timeliness. To do so, the Department said it had performed a significant lessons-learned exercise alongside the National Audit Office and increased the capability and capacity of its finance team. HM Treasury’s accounts direction for the 2024–25 resource accounts retains the equivalent deadlines 67 Q 35 68 Department for International Trade, Annual report and accounts 2022 to 2023, July 2023, p 179 69 DBT ARA 2023–24, p 133 70 Q 37 71 Q 35 72 Q 40 73 Q 35 74 National Audit Office, Department for Business and Trade Annual Report and Accounts 2023–24, January 2025 20 as for 2023–24.75 The Department acknowledged that the knock-on impact of the late delivery of the 2023–24 accounts means it will fail to deliver the 2024–25 accounts on time and in accordance with the directions.76 National Audit Office guidance on achieving high quality, timely and efficient audits states “timely reporting supports Parliamentary scrutiny of public spending and gives the public assurance over the way in which public money is being used.”77 The delayed publication of the Department’s accounts therefore undermines Parliamentary scrutiny and the public’s assurance over the spending of public money. The Department stated that it has agreed a detailed timetable and expectations with the National Audit Office to achieve the September laying of its 2024–25 accounts. The Department aims to publish its 2025–26 accounts in line with the timetable set out in HM Treasury’s accounts directions, which would mean in time for the parliamentary summer recess.78
From: Public Accounts Committee, 34th Report - Department for Business and Trade Annual Report and Accounts 2023-24 (HC 818), 25 June 2025
Government response
Latest Treasury Minutes progress report to the Committee of Public Accounts on the Thirty-fourth Report of Session 2024-26
The government responded to the whole report on 4 June 2026 (deadline 25 August 2025).
Treasury minutes: Government response to the Committee of Public Accounts on the Thirty-fourth report from Session 2024-26
Published 18 September 2025.
Summary written by Accountability Index from the government's response. It is not the government's own words.The government states that it agrees with each of the Committee's recommendations on the Department for Business and Trade's 2023-24 accounts, setting target implementation dates between September 2025 and August 2026.
- On the Horizon schemes, the department is finalising letters to remaining eligible Horizon Shortfall Scheme claimants, "expected to be implemented by September 2025". It will also write to those yet to register for redress under the Horizon Convictions Redress Scheme, aiming to complete this "by the end of September 2025".
- Overturned Convictions claims transferred to the Horizon Convictions Redress Scheme from 3 June 2025. The department confirms the same principles will apply, "ensuring no OC claimant is disadvantaged", and says it will publish further guidance by the end of Summer 2025.
- On Post Office funding, the department will write to the Committee in Autumn 2025. It will also give a formal notification to the Committee "when the Letter of Comfort to the Post Office Limited is issued", with a Winter 2025 target date.
- On Bounce Back Loan fraud, the department will submit written findings of a Government Internal Audit Agency audit "before the end of August 2026". It will write to the Committee in one year on Insolvency Service performance, providing information "that is obtainable".