The C&AG also qualified the Groups ‘other accruals’ in 2020–21 as there was insufficient assurance in respect of existence and valuation of £17.3 billion, the Department accrues expenditure it has incurred but has not yet been invoiced for and therefore a liability which will need to be paid in future. In 2019–20 the C&AG qualified his ‘true and fair’ opinion on the Core Departments ‘other financial assets’ due to a disagreement in the application of financial reporting standard IFRS 9. The D...

The C&AG also qualified the Groups ‘other accruals’ in 2020–21 as there was insufficient assurance in respect of existence and valuation of £17.3 billion, the Department accrues expenditure it has incurred but has not yet been invoiced for and therefore a liability which will need to be paid in future. In 2019–20 the C&AG qualified his ‘true and fair’ opinion on the Core Departments ‘other financial assets’ due to a disagreement in the application of financial reporting standard IFRS 9. The Department did not impair the value of the loans to NHS Trusts and Foundation Trusts, resulting in assets being overstated by an estimated £2.2 billion.57 Type: conclusion | Number: 29 | Response status: accepted Government response: 6.1 The government agrees with the Committee’s recommendation. Target implementation date: December 2023 6.2 As the Committee is aware, the department has undertaken a financial reset programme. This programme established robust financial controls and governance acros