PN11 11 October 2007 16.30 hrs
For immediate release
Review of the National Audit Office's corporate governance
The Public Accounts Commission has agreed terms of reference for the review of the NAO's corporate governance, as follows:
"To identify the extent to which the NAO's corporate governance arrangements are consistent with best practice elsewhere (including the arrangements set out in the Combined Code on Corporate Governance and the Treasury's Corporate Governance in Central Government Departments: Code of Practice) and to propose any necessary improvements, taking account of the need to protect the Comptroller & Auditor General's statutory discretion in carrying out his duties.
"The review should focus on the role of the C & AG and his relationship with the NAO, and should cover the role of the NAO's Senior Management Board, whether a separate advisory board would be beneficial, the number of non-executives and the method of their appointment, the method of appointment and reporting arrangements of the Audit Committee, the method of appointment of senior NAO officials, arrangements for determining remuneration, and internal controls, together with any other matters the reviewer or the Commission consider appropriate.
"The review is to be completed by the end of 2007."
The decision to carry out the review was announced in the Commission's 13th report, published on 11 July (HC 915 of 2006-07). Further information about the review will be made available in due course.