Twentieth Report - Monitoring and responding to companies in distress

Select Committee
Public Accounts Committee HC 425 13 March 2024
Report Status Government responded
Conclusions & Recommendations 27 items (17 recs)
Source View on Parliament website
Government Response (AI assessment · 26 of 27 classified)
Accepted 17
Acknowledged 2
Deferred 6
Rejected 1
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Twentieth report from Session 2023-24 · published 28 May 2024
Read the government response ↗ Response on the tracker
Clear

Recommendations & Conclusions

1 results
5 Conclusion Rejected
Set functional standards for monitoring and responding to companies in distress across government.
Conclusion
The Cabinet Office has not assessed or coherently identified the skills and expertise needed for monitoring and responding to companies in distress. We have previously raised concerns about the level of commercial, risk management and corporate finance expertise in government … Read more
Government Response Summary
The government rejects setting new functional standards, stating existing guidance and risk management strategies suffice. Instead, the Cabinet Office Commercial Function will collaborate with the Risk Centre of Excellence, UKGI, and HM Treasury to explore a more targeted approach for developing necessary skills across government.
HM Treasury
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