Miscellaneous Reinsurance for acts of terrorism Requirements
The Act ensures that any public sector bodies that benefit from an arrangement under the 1993 Act can be obliged to comply with any requirements associated with their public sector classification and/or to appoint an accounting officer. The requirements may include matters relating to:
Auditing - for example, MPM which sets out the main principles for the management of resources in UK public sector organisations.
Accounting - for example, Government Financial Reporting Manual (FReM) standards, which are the public sector accounting standards.
Budgeting - for example, MPM and the Consolidated Budgeting Guidance, which is the budgeting framework that applies for expenditure control.
Arm’s length bodies – for example, MPM.
Public sector bodies - for example, MPM and public sector pay guidance.