GovWire

Whole of Government Accounts (WGA) consolidates the audited accounts of over 10,000 organisations across the UK public sector.WGAis based on International Financial Reporting Standards, the system of accounts used internationally by the private sector.

This is the fourteenth year of publication of theWGA. The UK is among the most advanced countries in this regard and theWGAis a uniquely comprehensive product; as it is the only set of consolidated public sector accounts that includes both central government, local government and government owned corporations.

TheWGAis independently audited by the National Audit Office providing greater confidence in the figures, and supports effective scrutiny by Parliament. This scrutiny is exercised by the Public Accounts Committee who examine the accounts each year.

TheWGAforms a key part of the mechanisms for understanding the governments financial performance. Together with the statistical framework that is published in the National Accounts by the Office of National Statistics, and the Office for Budget Responsibilitys forecasts of economic performance and the public finances; theWGAprovides a mechanism for holding government to account for its long term financial performance.