DFID Annual Report and Accounts 2016 to 2017
皇冠体育app Department for International Development's Annual Report and Accounts 2016 to 2017 was published on 6 July 2017.
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皇冠体育app Annual Report meets DFID鈥檚 obligation to report on its activities and progress under the International Development (Reporting and Transparency) Act 2006. It includes information on DFID鈥檚 results, spending, performance and efficiency.
DFID鈥檚 Accounts are prepared in accordance with the 2016 to 2017 Government Financial Reporting Manual (FReM), issued by HM Treasury. 皇冠体育app accounting policies contained in the FReM apply International Financial Reporting Standards as adapted or interpreted for the public sector context. DFID鈥檚 Accounts are similar in many respects to the annual accounts prepared by private sector businesses. 皇冠体育appy contain the primary financial statements recording the full costs of activities, DFID鈥檚 assets and liabilities as well as providing information on how resources have been used to meet objectives.
皇冠体育app format is tailored to central government accounting including, for example, financial comparisons against the Department鈥檚 resource-based estimates. Those not familiar with the format of the accounts might like to focus on the Financial Review within the Performance Report, which summarises the key areas of performance. 皇冠体育app Financial Statements and certain sections of the Accountability Report are audited by the National Audit Office before they are presented to Parliament.