[an error occurred while processing this directive]
[an error occurred while processing this directive]
On-Air Now
Listen Live

Changes to financial framework on the way?

Sat, 28 Dec 2013

Treasury Minister Eddie Teare
Treasury Minister Eddie Teare

The Treasury is consulting on proposed changes to the financial regulatory framework.

Under the current set up there is 50 local government bodies which range in size - from annual gross expenditure of less than £5,000 to over £30 million.

Under the Audit Act 2006 - regardless of scale - each of the bodies is required to undertake a full statutory audit with a total current cost of over £210,000.

Minister Eddie Teare says each project needs to be regulated:


  • Eddie Teare


Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed