The Audit Commission and the Healthcare Financial Management Association (HFMA) have produced NHS Foundation Trust Accounts: A guide for non-executives and governors – April 2011 Update. The publication includes additional questions for non-executive directors and governors, describing the main changes since the previous guides were published in 2010. It complements two documents published in 2010, Foundation Trust Accounts: A Guide for Non-executives and Foundation Trust Accounts: A Guide for Governors. These documents guide the reader step by step through a set of foundation trust annual accounts as they are prepared under International Financial Reporting Standards.
Even for those with a strong background in accounting, some aspects of NHS finance can be very complicated. The guides provide the reader with easy-to-follow explanations of the primary statements and notes. They explain the role of the non-executive director or governor and the external auditor. They also include an invaluable list of questions to help understand and gain assurance on the detail of the financial statements.
The update and guides aim to help non-executive directors and governors, and other users understand and satisfy their responsibilities in this area and are available for free download here.