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The Chancellor of the Exchequer aims for a balanced approach with his combination of frozen tax thresholds and the promise of greater efficiency in public services. But his plans suggest a prolonged period of pain.
Many consider the going concern assumption in the public sector “meaningless”, so could resilience statements provide a better way of assessing whether public bodies are financially viable?
Financial Reporting Council rates 70% of local audits as good or only requiring limited improvements, but reiterates concerns about audit timeliness.
On a visit to Chartered Accountants’ Hall, Michalis Hadjipantela FCA, Minister for Health in Cyprus, told ICAEW’s Julia Penny and Alison Ring about how his chartered accountancy skills led to a career in government.
With a statement that was all about tax cuts, incentives and simplification, the Chancellor is taking a big gamble on accelerating growth