Grant Thornton bolsters Value for Money offering

Grant Thornton UK has strengthened its public sector assurance Value for Money (VfM) offering with the creation of a national team, and Guy Clifton and Emily Mayne have been appointed as VfM directors.

The team has been created in response to the National Audit Office Audit Code which has increased the level of VfM activity required in relation to public sector audited bodies in England.

In their new roles, Clifton and Mayne will be leading a national team of specialists. In particular, Clifton will be supporting the local government sector, with a focus on local authorities and other local bodies including police, fire authorities, combined authorities and national parks.

Meanwhile, Mayne will be leading the firm’s focus on the NHS which will incorporate NHS Trusts, Foundation Trusts and Clinical Commissioning groups.

Collectively, the team will be responsible for overseeing VfM work for approximately 290 public sector bodies in England. 

Grant Thornton said its auditing VfM work has a “greater” focus on providing commentary on arrangements to secure VfM, and on providing “better” reporting, more local context and “adding value” to the public sector. 

The VfM audit work will run parallel to the financial statements audit with a separate report published annually.

Mark Stocks, head of Public Sector Assurance at Grant Thornton UK, said: “With financial pressures across the public sector continuing to increase, stakeholders need to be assured that the use of public finances is being properly scrutinised and that public service bodies continue to deliver value for money.

“As a firm, we’re committed to the local audit market. Strengthening our focus in this area with a Value for Money team will allow us to continue to deliver robust VfM audits and provide assurance to the sector and the public.”