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As part of their role as Monitor’s internal auditors, PricewaterhouseCoopers’ (PwC) Health Group Internal Audit undertook a ‘lessons learned’ review following NHS foundation trust status being granted to St George’s Healthcare NHS Trust on 1 February 2015.
The trust was renamed St George’s University Hospital NHS Foundation Trust. Following authorisation, the trust experienced a sudden deterioration in its finances during quarter 4 of 2014/15 which led to it recording a £16.8 million loss for the first financial year.