The Audit Commission has updated its guides to NHS accounts for non-executive directors and foundation trust governors. There are separate guides for NHS trust/PCT/NHS foundation trust accounts for non-executives and a further guide to NHS foundation trust accounts for governors.
According to the Commission “Making sense of a set of accounts can be difficult in any sector, but in the NHS the challenge can be particularly demanding. [The new guides]…….make the task a little easier.”
The guides steer the reader step by step through the annual accounts. They help equip non-executives and, in the FT governors guide, FT governors to ask pertinent questions and challenge the various entries. They provide the reader with explanations of the primary statements and notes. They clearly explain the role of the non-executive and the external auditor. Each guide also includes an invaluable list of questions to help understand and gain assurance on the detail of the financial statements.
The new guides have been rewritten to reflect the requirements of the newly adopted International Financial Reporting Standards.
Download the 2010 revised guides here.