Lack of financial oversight is hurting the sector, PAC hears

摘要

An inquiry into council finances has heard warnings of a yawning gap in the oversight of the sector. Experts told the Public Accounts Committee that sector finances lacked regulation beyond the ultimate sanction of Government intervention following the demise of the Audit Commission. Chief executive of the Chartered Institute of Public Finance and Accountancy, Rob Whiteman, said local government was 'pretty well run,' but argued: 'There's a gap between an unregulated system and the nuclear powers that the secretary of state has. Not all councils are as well run as the rest. The department should have more of an oversight role.'