Committee of Public Accounts
Published: 2000
Total Pages: 31
Get eBook
From April 1st 1999, Siemens Business Services (SBS) took over the day-to-day administration of National Savings products. National Savings retained responsibility for the overall business management and performance and for managing the relationship with SBS. On the basis of a report from the Comptroller and Auditor General, (HC493 Session 1999-2000), the Committee examined the National Savings and SBS on how well the partnership is working, how effectively the contact is being managed and on past weaknesses in financial accounting. Key conclusions are that: the partnership appears to be good value for money; the project is high risk as it is dependent on the introduction of a relatively small but crucial amount of new technology and that National Savings must remain vigilant to ensure that the partnership works as intended.