Source · Select Committees · Public Accounts Committee
Twentieth Report - Monitoring and responding to companies in distress
Public Accounts Committee
HC 425
Published 13 March 2024
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Twentieth report from Session 2023-24 · published 28 May 2024
Recommendations & Conclusions
5
Conclusion
Rejected
Set functional standards for monitoring and responding to companies in distress across government.
Conclusion
The Cabinet Office has not assessed or coherently identified the skills and expertise needed for monitoring and responding to companies in distress. We have previously raised concerns about the level of commercial, risk management and corporate finance expertise in government …
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Government Response Summary
The government rejects setting new functional standards, stating existing guidance and risk management strategies suffice. Instead, the Cabinet Office Commercial Function will collaborate with the Risk Centre of Excellence, UKGI, and HM Treasury to explore a more targeted approach for developing necessary skills across government.
HM Treasury
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