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Changes over time for: Paragraph 1
Timeline of Changes
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Status:
Point in time view as at 01/01/2012.
Changes to legislation:
There are currently no known outstanding effects for the Budget Responsibility and National Audit Act 2011, Paragraph 1.
Changes to Legislation
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This section has no associated Explanatory Notes
1(1)NAO and the Comptroller and Auditor General must jointly—U.K.
(a)prepare a strategy for the national audit functions, and
(b)review the strategy (and revise it as appropriate) at least once every 12 months.
“The national audit functions” means NAO's functions and the Comptroller and Auditor General's functions.
(2)The strategy must—
(a)for the period for the time being covered by it, include a plan for the use of resources for the national audit functions;
(b)for each financial year for the time being covered by it, specify the maximum amount of resources to be provided by NAO for the purposes of paragraph 2(1).
(3)The strategy (including any revision) must be approved by the Public Accounts Commission.
(4)For this purpose the person who chairs NAO and the Comptroller and Auditor General must jointly submit the strategy (or revision) to the Commission.
(5)Before approving the strategy (or revision) the Commission must review it and may modify it.
(6)In doing this the Commission must have regard to any advice given by the Treasury.
(7)NAO and the Comptroller and Auditor General must each give effect to the strategy.
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