According to the National Audit Office’s (NAO) 2016/17 annual report, it has spent £100,000 less this year compared to 2015/16 despite cuts to public sector funding resulting in more challenging audits, with the regulator also excelling with its diversity targets
In 2016/17 the NAO’s total net spend totalled £63.9m, a £100,000 decrease from £64m in 2015/16.
Amyas Morse, head of the NAO, said: ‘The past year has been marked by a great pace of change in the public sector. With ongoing challenges to the financial sustainability of public services, we have seen government trying to do more with fewer resources by delivering services in a different way, through greater delegation to local bodies, partnerships with the private and third sectors and with transformation projects with large digital components.
‘This level of change brings opportunities for efficiencies but also challenges to accountability and securing value for money.’
Since 2010, the NAO has saved £7.5 billion, or £16 for every £1 spent. It has also seen a reduction of 21% in resource costs since 2010, even while playing a much greater role in local government and preparing for a significant increase in its UK audit portfolio.
In 2016-17, the NAO certified 372 accounts including those of all 19 government departments and their associated bodies, as well as those of companies such as Network Rail and the Green Investment Bank. In 2016 the NAO also took on the BBC, the Bank of England and UK Asset Resolution LTD audits.
Over 2016/17 the NAO’s intake of graduates from a black, Asian and minority ethnic (BAME) background grew from 21% in 2016 to 41% in 2017. Half of female applicants for director posts were promoted, compared with 25% in 2015/16 and four of the five promotions to director in 21016/17 were female.
NAO’s graduate pass rates above the national average with 91% of trainees passing their ACA qualification on the first attempt (compared with 86% nationally) and 91% also passed the advanced stage exams at the first attempt (compared with 85% nationally).
The report notes that 88% of people who work for the NAO are interested in their job with 77% saying they feel proud when they tell others they are part of the NAO.
Those audited by the NAO remain satisfied with its financial audit work with 92% agreeing it is of high quality and 85% saying that they would actively seek our feedback on accounting and financial control issues.
NAO Annual Report and Accounts 2016-17 is available here
