The Treasury explained to us how the WGA plays a crucial role in enhancing the fiscal transparency of the public sector, giving a more complete and overarching view of government spending and the public financial structure that exists elsewhere. This in turn allows, over the years, for identification of major economic trends and better fiscal management. The content and quality of the reporting in the WGA, beyond the financial statements themselves, is what controls the level of transparency ...

The Treasury explained to us how the WGA plays a crucial role in enhancing the fiscal transparency of the public sector, giving a more complete and overarching view of government spending and the public financial structure that exists elsewhere. This in turn allows, over the years, for identification of major economic trends and better fiscal management. The content and quality of the reporting in the WGA, beyond the financial statements themselves, is what controls the level of transparency achieved.57 The Treasury has succeeded in advancing the content of its reporting in 2019–20 to include valuable overviews of the wider government impacts Type: conclusion | Number: 19 | Response status: not_addressed Government response: 5. PAC conclusion: The content of the Whole of Government Accounts has improved but does not transparently report against all key areas of government spending. 5. PAC recommendation: The Treasury should continue to improve the content of the WGA, with specific re