UK accountants slam lack of financial scrutiny in P3 projects
Call for stricter reporting from private sector to determine how public money is being used, whether goals are met.
by Accountancy Age
March 3, 2009— A lack of financial information on multi-billion pound public-private partnerships (PPPs), which are used to deliver public infrastructure such as roads and hospitals, makes it difficult to determine the true extent of government debt and future expenditure, the Institute of Chartered Accountants of Scotland has claimed in a report.
The report focuses on the roads sector, which is the biggest user of the PPP sectors. However, ICAS says its report recommendations may also apply to other UK private finance projects, such as schools and hospitals. . .
To read further, please click on the link below. . .
Links and sources
ICAS: Increase scrutiny of Public-Private partnership projects, by Accountancy Age, March 3 2009
Financial Black Holes: Accounting for Privately Financed Roads in the UK, Institute of Chartered Accountants of Scotland Report, March 2009
Posted: March 07, 2009
Voices of privatization
Feedback and dialogue
Public Values (PublicValues.ca) is a project of the Golden Lake Institute and the online publication StraightGoods.ca