Schedule 1: Office for Budget Responsibility Paragraph 16: External Review
127.Paragraph 16 requires the Non-executive Committee to commission from time to time independent reviews of the Office’s work. These reviews will take place at least once every five year period, the first period beginning on 1 October 2010.
128.The Committee will determine the specific timing of a review within this period, and reviews may be undertaken sooner than five years if the non-executives consider this to be appropriate. The Committee will appoint a person or body to carry out these reviews. The person or body will only be appointed if they have the knowledge or experience likely to be relevant to the performance of the Office’s duty under section 4. The Committee will determine which of the reports published by the Office should be reviewed under section 4. The first review will concern reports published since 1 October 2010; subsequent reviews will concern reports published since the date of the last review. The Office may, if appropriate, make payments to the person or body in respect of carrying out such an external review. The Office must publish each external review, lay a copy before Parliament and send a copy to the Treasury.