38
Acknowledged
Account publication delayed by merging predecessor data, complex balances, and Post Office provisions.
Conclusion
The Department told us that the delay in publishing its 2023–24 accounts was due to three key reasons. These were: the requirement to merge the financial information of its predecessor departments; the challenging learning curve required to account for more complex balances aligned with insufficient resources; and the complexity inherent in the accounting for the Post Office compensation provisions.61
Government Response Summary
The government agrees with the committee's observation regarding the reasons for past delays in publishing accounts. It notes that the Annual Report and Accounts production and audit are progressing well and are on target for a September 2025 publication.
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
5.1 The government agrees with the Committee’s recommendation. Target implementation date: September 2025 5.2 The department will inform the Committee should it become likely that the September deadline will be missed. The Annual Report and Accounts production and audit are currently progressing well and are on target for a September publication.
Source
Committee
Public Accounts Committee
Report
34th Report - Department for Business and Trade Annual Report and Accounts 2023-24
25 Jun 2025
HC 818
Addressee Bodies
HM Treasury
Timeline
Recommendation age
1.1 yr
Report published
25 Jun 2025