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This document sets out the financial accountability system for the Greater London Authority. It has been signed off by Sir Bob Kerslake as accounting officer for the Department for Communities and Local Government. It sets out the financial relationship between the Greater London Authority and the Department and sets out the checks and balances including via the elected London Assembly and through various statutory controls which forms the system at present. The statement also signposts changes which are expected to be made during the year.
This statement is a sister document to the system accountability statement for local government published in March 2012. Owing to the unique governance arrangements in the capital, with a strong executive Mayor and elected Assembly, the funding streams and accountability systems are sufficiently different to warrant a bespoke accountability system statement.