Open the books on public projects, says ICAS

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The lack of clear and consistent financial information on public-private partnerships (PPPs), which are used to deliver public infrastructure, is preventing taxpayers from understanding where public money is being spent, according to a new report by the Institute of Chartered Accountants of Scotland (ICAS).

Its research found that increasing expenditure outside the direct control of public bodies is creating additional reporting problems that are making scrutiny, control and accountability difficult.

One of the reports authors, Professor Jean Shaoul of the University of Manchester said: The explanation often given about the higher cost of private as opposed to public finance is that the private contractor is taking on some of the projects risks.

However, the lack of information and d...

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