| Short Title: | Exchequer and Audit Departments Act 1866 |
| Type: | Act |
| Parliament: | Parliament of the United Kingdom |
| Long Title: | An Act to consolidate the Duties of the Exchequer and Audit Departments. to regulate the Receipt, Custody, and Issue of Public Moneys, and to provide for the Audit of the Accounts thereof. |
| Year: | 1866 |
| Citation: | 29 & 30 Vict. c. 39 |
| Royal Assent: | 28 June 1866 |
| Commencement: | 1 April 1867 |
The Exchequer and Audit Departments Act 1866[1] (29 & 30 Vict. c. 39) is the UK Act of Parliament under which most of the revenue from taxation, and all other money payable to the Exchequer, must be paid into the Consolidated Fund.[2]
The act "established a cycle of accountability for public funds": Public spending was authorised by the House of Commons while the public fund was controlled by the Comptroller and Auditor General who was also responsible for auditing the financial accounts produced by each government department. The Committee of Public Accounts, which had been established in 1861 by William Gladstone, was appointed to oversee the work of the Comptroller.[3]
See also: Comptroller and Auditor General (United Kingdom). The act combined the functions of two historical job functions:
Under the terms of the act the 'Comptroller and Auditor General' continued to authorise the issue of money to departments (the comptroller function) and was given the new task of examining departmental accounts and reporting the results to Parliament.