Summary
4.The main purposes of the Act are:
To replace and/or amend the existing legislation on Government accounts (principally the 1866 and 1921 Exchequer and Audit Departments Acts but also the NHS Act 1977 in respect of introducing RAB into the NHS) to enable the introduction of RAB and to modernise the operation of other aspects of the Exchequer and Audit Departments Acts.
To put in place enabling legislation to enable the preparation and audit of consolidated accounts for the whole public sector (Whole of Government Accounts or WGA).
To enable the Treasury to incur expenditure in respect of the establishment of a new body for the purpose of carrying on public-private partnership business and investment in and other financial provision for that body.
