Addressee: HM Treasury · Source location: Page 11, Paragraph 20, point a
Set out a delivery plan for full Framework implementation, showing short-, medium- and long-term milestones and reporting progress against them. This should include clear milestones indicating when each public financial institution and department is expected to be fully compliant with the Framework.
Response position:
Partially accepted
Delivery:
In progress
· Q4 2027/28
· Confirmed by NAO
Addressee: HM Treasury · Source location: Page 11, Paragraph 20, point b
Work with relevant risk-control experts and strengthen the Framework in line with good practice for control frameworks by:
? assessing systematically the risks the Framework is designed to address;
? producing a complete list of controls mapped to those risks, with clear ownership for each control, and sharing this with public financial institutions, departments and auditors; and
? reviewing the Framework regularly to assess whether residual risks remain within the government?s risk appetite, and updating controls where needed.
Response position:
Under consideration
Delivery:
No implementation status recorded
· Confirmed by NAO
Addressee: HM Treasury · Source location: Page 11, c
Establish a clear and proportionate system for monitoring compliance with the Framework, including for bodies outside of the government?s accounting boundary, such as British International Investment. This system should set out who is responsible for checking compliance, assurance mechanisms, and what information organisations must report. The system must provide HMT with a reliable, consistent way of understanding whether the Framework is being followed, and whether it is operating as intended over time.
Response position:
Rejected
Delivery:
No implementation status recorded
· Confirmed by NAO
Addressee: HM Treasury · Source location: Page 11, Paragraph 20, point d
Agree with public financial institutions and departments on how best to provide more consistent, centrally coordinated guidance to support effective implementation of the Framework. This should include sharing good practice, lessons learned and practical examples, particularly on areas of uncertainty, such as how departments and public financial institutions should work together.
Response position:
Accepted
Delivery:
In progress
· Q4 2027/28
· Confirmed by NAO
Addressee: HM Treasury · Source location: Page 12, Paragraph 20, point e
Ensure that UKGI delivers the improvements planned for the Financial Investment Report, including collecting proportionate and accurate data to ensure ministers receive well-informed advice on the government?s investment portfolio, both annually and when major strategic decisions on FTs arise.
Response position:
Accepted
Delivery:
In progress
· Q4 2026/27
· Confirmed by NAO
Addressee: HM Treasury · Source location: Page 12, Paragraph 20, point f
Apply what HMT has learned from the process of assessing the National Housing Bank to formalise its process for designating public financial institutions. This should include consistent use of minimum standards, clear documentation of key judgements and decisions, and clear expectations for when any outstanding requirements will be met.
Response position:
Accepted
Delivery:
In progress
· Q4 2026/27
· Confirmed by NAO