Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what role the National Audit Office has in holding the Financial Ombudsman Service to account.
The Comptroller and Auditor General, who leads the National Audit Office, certifies the accounts of all government departments and many other public sector bodies, including the Financial Ombudsman Service.
The Financial Ombudsman Service is subject to statutory audit by the National Audit Office, and the National Audit Office also has the associated ability to launch value for money studies covering the Financial Ombudsman Service. A number of National Audit Office reports covering the work of the Financial Ombudsman Service have been presented to Parliament and are available on the National Audit Office’s website.
These mechanisms ensure Parliament can consider the efficiency, effectiveness, and economy with which the Financial Ombudsman Service carries out its functions.